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Inheritance tax: another day, another government U-turn

By: Katherine Shaw|In: Small Business Accountant|Last Updated: October 26, 2018

IHT treatment of specialty debts

The government has back-pedalled on a controversial decision on inheritance tax after widespread criticism. HMRC came under fire when it decided that a type of debt which had historically been exempt from inheritance tax would now be subject to it – going against centuries of legal precedent.

After discussions with professional bodies, it has now changed its position again – though things still aren’t back to how they were before. Let’s take a look at what’s going on.

What’s the history?

The controversy relates to a type of debt called a ‘specialty debt’, which is one owed to someone who is not domiciled in the UK. It’s a kind of debt created by a deed or a seal, not just a normal contract.

Historically, such debts, when owed to a non-dom, have been exempt from UK inheritance tax if the document recording the debt is …

By: Katherine Shaw|In: Business Solutions|Last Updated: October 23, 2018

The job market is suffering from candidate skills shortage. People seeking employment should use a recruitment agency specializing in their sector. Working with a recruitment firm takes pressure off the seekers and make the search more fruitful. Recruiters also offer a job seeker the opportunity to work for noble employers. How do you make sure that you’ve selected the right agency?

Assess Your Needs

Before contacting an agency, you should be familiar with your needs. What are you looking for in the job industry? What’s preventing you from achieving your dreams? To identify the support you need from a headhunter, it’s vital to assess your portfolio as well as career prospects.

Do Your Homework

To choose the right recruitment agency, do your homework. Look at the firm’s LinkedIn profile for the experience. Is there a sign of experience in your area of specialization? Do they demonstrate the claimed experience …

By: Katherine Shaw|In: Small Business Accountant|Last Updated: October 20, 2018

At some point, somewhere, in someplace, someone you know is thinking about or actually starting a viable business of some kind. Whether they succeed or fail in this endeavor will depend in part on how well they manage the books. The activity of recording business transactions or bookkeeping helps businesses account for what you’re doing now and hope to do in the near the future.

Not a numbers person? Don’t let that frighten you. Think of it, instead, as just information about your business. And that means to a large extent, your employees, your customers, your vendors. The total of this aggregate and more are your business’ assets. Let’s say you entered all of this data into a spreadsheet to keep things organized. This would help you better track the businesses expenses. And to make things easier you can use bookkeeping software to simplify the process.

Assets and Liabilities

Here’s …

By: Anthony Williams|In: Business Management|Last Updated: October 19, 2018

The concept of a cafe franchise is intriguing to lots of investors. If there is anyone that has ever spent their time wondering how they could get into a franchise business a cafe maybe a great place to get started. The reason for this is because it is a smaller venue than a fast food restaurant. When people engage into the cafe franchise business they have a better chance of setting their own boundaries and dealing specifically with a smaller selection of items.

If you search for a Franchise for sale you may find that the cafe business is going to be one of the more popular results to pop up in your search engine. This has much to do with the quaint setting that people like when they are in between decisions on going to a fast food or a full-scale restaurant. This is the safe middle ground …

By: Anthony Williams|In: Business Intelligence|Last Updated: October 5, 2018

what are the business benefits of using artificial intelligence technology for knowledge managementI’ve noticed lately that there appears to be a lot of confusion about merging dimensions in Internet Intelligence. First, define the requirements of your customers. AI might be a attractive field, but it always makes sense to return to the fundamentals in building a business. Exactly where do your present or potential buyers have explicit or implicit unmet requirements? Even the most disruptive current company ideas, such as Uber and Airbnb, address people’s fundamental needs.

The greatest way to think about these worst case scenarios is to consider about the militarization of two capabilities in which artificial intelligence currently touches our everyday lives: facial recognition and driverless cars. As you know if you have ever tagged a photo on Facebook, artificial intelligence has already reached the point at which you can be very easily and instantly identified by …