Rodolfo Basilio No Comments

HOW TO CHOOSE YOUR BUSINESS PARTNER

For me, a business partnership is similar to a marriage. Marriage could be seen as a legal contract between spouses that establishes rights and obligations between them, between them and their children, as well as society in general. Individuals marry for many reasons, including legal, social, emotional, financial, spiritual and religious purposes.

Now, starting a business partnership could be seen as a legal contract between the business partners (most of the time business shareholders) that also establishes rights and obligations between them, between them and their business as well as society in general. This is the reason why accountants and solicitors recommend the preparation of a shareholder agreement (I will come to this subject later in my article). Business partners come together for many reasons, including creating, managing or delivering a new or existing service or product to the market.

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Rodolfo Basilio No Comments

NATIONAL LIVING WAGE COMMUNICATION

National-Living-Wage-Communication

 

From 01st April 2016 the Government’s new National Living Wage will become law. How is this going to affect you?

From 01st April 2016 you must pay all employees aged 25 and over the National Living Wage rate (NLW), which is currently set at £7.20/hour and is mandatory, not optional.
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Rodolfo Basilio No Comments

NEW DIVIDEND TAX RATES FOR 16/17

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The way dividends are to be taxed is to change from April 2016 and will see basic-rate taxpayer subject to a new levy of up to 7.5%.

The Government expects to raise £6.8 billion over the next five years by replacing the dividends tax credit with a tax-free dividend allowance of £5,000, with higher taxes on income above that.  Another point to consider is that dividend income can also be covered by personal allowance, the amount of income you can earn before being taxed, which will be £11,000 from April 2016 (£10,600 previous year), so someone who receives the entirety of their income in dividends could receive up to £16,000 tax free.
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