Despite the looming prospect of Brexit the overwhelming majority of businesses in the South West looking to export are eyeing Europe as part of their 2017 expansion plans.
That’s one of the headline findings of a far-reaching survey into South West businesses’ growth plans we recently carried out.
Many people in the past have been reluctant to use tax planning involving a trust, especially a Discretionary Trust, as they see it as complicated, over-burdening and expensive. However in all reality this is not the case.
There are other types of Trust that can exist, with different legal and tax consequences, but I am concentrating on a Discretionary Trust. This is a Trust where no beneficiary has an entitlement to the income or capital, instead the Trustees choose how much income in the Trust should be distributed to whichever beneficiary they choose.
We’re extremely pleased to announce that Alan Sanders (pictured centre) has joined us as our new Audit & Assurance Manager.
It is the second time Exeter University graduate Alan has worked for us, having completed his training here before joining national accountancy firm BDO’s Bristol office three years ago.
Although the milk price appears to be improving for many dairy farmers, there is often a lag before this shows itself as cash in the bank. A number of farmers are therefore still feeling the consequences of the low prices achieved over many months and are facing pressure on their cash position.
Here are a few potential areas that can be looked at to help improve the cash flow position:
The most radical ever reforms to private sector pensions were introduced into the UK by the Government in 2015 using primary legislation (the Taxation Of Pensions Act 2014), which means the key changes made to pensions are likely to be around for some time especially as the legislation received cross-party support.
In accordance with our engagement terms, Thomas Westcott’s Standard Terms of Business have been amended as below. Version 3 of the revised Standard Terms of Business are effective from 1 December 2016. Any work instructed after notification of the changes will be treated as carried out under the revised standard Terms of Business. For the full version of the revised standard Terms of Business click here.
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