Objectives

To enable delegates to provide clear advice to small business clients from the start up phase to passing on the business to other family members, sale or incorporation. The course will also cover employment status, in particular, the review of workers in the “Gig” economy  and the “off-payroll” working rules.

Content

• Am I self-employed? Status considerations, particularly in the “Gig” economy
• IR35 and the “off-payroll” working rules
• Tax issues to consider on commencement of trading, VAT registration, choice of accounting date, capital allowances
• Employing the spouse or bringing them into partnership
• Partnership tax considerations
• At what point does a limited company become beneficial?
• Tax consequences of incorporation
• Passing on the business – inheritance tax and CGT issues

Martyn qualified as a Chartered Accountant in 1982 and has specialised in taxation ever since. He became an Associate member of the Chartered Institute of Taxation in 1983 whilst working for a large international firm. His career has combined lecturing with tax consultancy, working for The Financial Training Company Ltd, Horwath Clark Whitehall, and more recently MHA MacIntrye Hudson. He is now a Consultant with MacIntrye Hudson Advisory Services LLP. Martyn’s main area of interest is tax planning for the family business, in particular tax efficient remuneration, exit planning and restructuring. He lecturers on this and other taxation issues as well as running his own consultancy practice.