Strategy – It’s All About The Execution

Your firm might have the best business strategy but if the management team doesn’t execute that strategy properly, it could fail. While execution can go wrong for a variety of reasons, one of the most basic mistakes may be failing to allow the strategy to evolve over...

Risky Business: Good Risk Versus Bad Risk

From a business perspective, there are good and bad risks. Every opportunity that creates value can be considered a good risk. Bad risks include ignoring regulations or failing to implement effective policies and procedures. Successful business owners understand when...

What is this “Dementia Tax”?

The Conservative Party Manifesto announcement and subsequent U-Turn on the requirement to pay for social care may have caused many voters to switch their allegiance in the June Election. Although this so-called “Dementia tax” is not strictly a tax, paying for social...

One Business or Two For VAT?

A recent VAT Tribunal had to decide whether two hairdressing businesses should be treated as a single business for the purposes of VAT registration. The distinction was critical as the two separate businesses were operating below the registration limit (currently...

Motor Racing Sponsorship was Tax Deductible

In order for an expense to be deductible against business profits it must be incurred “wholly and exclusively” for the purposes of the trade. In a recent tax case a hotel owner near Silverstone sponsored his grand-daughter’s career as a racing driver by making...