by Paul Whyatt | Nov 4, 2021 | Business Advice, Business Start-up, Taxation
If you’re a business that uses freelancers, you should be careful to nail down their employment status from the start. Some of the key issues to consider are illustrated by a recent tax case taken to the First-Tier Tax Tribunal (FTT) – the case of Phillips v...
by Paul Whyatt | Feb 17, 2021 | Business Advice, Business Start-up
Intellectual Property (IP) is an intangible asset. It is created by people when developing new products, services and processes, or when improving existing ones. Obvious examples are inventions and original designs. But IP can also be words, phrases, symbols and...
by Paul Whyatt | Feb 16, 2021 | Business Start-up, Taxation
When a business registers for VAT, it’s important to know that you can claim for VAT incurred before the effective date of VAT registration (the ‘EDR’). This VAT is known as ‘pre-registration input VAT’. The amounts involved can add up to a significant sum. If...
by Paul Whyatt | Oct 14, 2020 | Business Start-up, Taxation
You’re starting a new business and you’re wondering whether you should open a separate business bank account. You’re aware that many banks offer free business banking for an introductory period. But then charges kick-in. So, do you really need a separate account?...
by Paul Whyatt | Oct 9, 2020 | Business Start-up
Starting a new business is a massive step. Many people try and fail. But others succeed, some exceptionally. Luck may well play a part in some success stories, but there does seem to be certain common traits that make your chances of success greater …… A...
by Paul Whyatt | Oct 9, 2020 | Business Start-up
Of course, there is no exact answer to this question. Arguably, there isn’t a right time. The best answer to the question lies in answering several, other questions: Why do you want to start a business?What led you to this point?Is finance a barrier?Is my age an...
