Carraghyn - Chartered Directors

Major Tax Changes in Summer 2015 Budget

Having presented his Budget in March of this year, UK Chancellor George Osborne wasted no time following the Conservative victory in the General Election in May to present a second Budget “untainted” by his then Liberal Democrat coalition partners.

There were some very significant changes in the Summer Budget presented today and we highlight the key changes to taxation below and will produce more detailed articles on many of these over the next few days.

Read more: Major Tax Changes in Summer 2015 Budget

Why You Should Ditch Your Customers

bumped into a friend recently, the CEO of a long-established and successful medium-sized company. We chatted briefly about business, both bemoaning the impacts of the current economic climate, and he recounted to me a story about a client.

Read more: Why You Should Ditch Your Customers

Financial Transaction Tax: No Need to Panic Over European Court Ruling

If you were to believe the media hype, and statements from politicians in the UK and Europe, Britain's challenge to the imposition of the Financial Transaction Tax (FTT) is dead in the water.

The left-wing press, led by the Guardian, are gleefully claiming that George Osborne's attempts to "go in to bat for bankers" has failed. On the right wing Boris Johnson is rending his garments and bewailing disaster (well he is a classical scholar as well as Mayor of London) and dear old Nigel Farage is claiming that it shows that the EU is moving outside its remit to impose taxes on individual nations which is properly the sole responsibility of each member state.

Read more: Financial Transaction Tax: No Need to Panic Over European Court Ruling

HMRC uses Hadoop to tackle corporate tax avoidance

As recently reported by Computer Weekly, HMRC has turned to using open-source big data technologies to analyse corporate tax returns. What does this mean in English, for business people?

Basically it's very simple. Probably for the first time ever HMRC has the ability to make direct comparisons of businesses tax submissions, comparing similar businesses to identify those which appear to be under-performing in their tax generation, and comparing businesses performance year on year to identify changing tax generation patterns.

Read more: HMRC uses Hadoop to tackle corporate tax avoidance

Using ORM For Strategy Development

I recently did a strategy development workshop for a board with no Vision, Mission or Values. They are neither unsophisticated nor unsuccessful, they lead a perfectly viable and operationally streamlined business which keeps on doing what it does and customers keep on buying from them, but they had no defined vision of the future.

Read more: Using ORM For Strategy Development

The Changing Face of Business

You have a low-cost low-volume specialist product to sell. Maybe it's something that you've come across, used and want to promote more widely. Or perhaps it's of use to a very narrow subset of people who have a specific illness. There are many possible reasons why someone would like to sell (or buy) a very niche product. 

Read more: The Changing Face of Business

Tax Evasion; Tax Avoidance; or Tax Planning

For most of the forty plus years since I entered the tax profession it was accepted by tax collectors, tax payers, accountants, lawyers and by the courts, that tax avoidance was legal but that tax evasion was not.

Read more: Tax Evasion; Tax Avoidance; or Tax Planning?

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