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In December last year draft proposals were put together to eliminate commonly controlled companies as “associates”. What does this mean? Practically, if you control a company and your spouse controls a second company, they would have been “associated” for tax purposes. This could have resulted in higher tax payments.

On 31 March I presented at the Morgan McKinley Finance Forum held in Gatwick. There were a wide range of businesses represented from owner-managed businesses up to multi-nationals. The main focus of the talk was announcements made in the Budget changing Corporation Tax and business tax.

The Budget made an interesting change for property investors. The Finance Bill 2011 is introducing a reduction in stamp duty land tax payable for ‘bulk purchases’.

You may know that certain very tax efficient small cars (Qualifying Low Emission Cars "QUALECS") qualify for 100% tax relief in the year in which a company purchases the vehicle. You may also know that generally it is not tax efficient to have a company vehicle!

With the Coalition Government in place, there have been several changes to tax and employment legislation and it's important that businesses know the current lie of the land. I am positive that these seminars will help business owners understand how they can operate tax efficiently and maximise profit.

I have just been reading details of the new 'education' initiative by HMRC. The scheme is designed to help new business owners by talking them through the main things they need to be aware of and direct them to the relevant page on their online help.