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Starting Up In Business
 
 This document is locked, you will need to be registered and logon to view it(Locked) Starting Up In Business
It is the ambition of many people to run their own business. Some may have been made redundant and find themselves with free time and financial resources. Others make the decision to start up in business to be more independent and obtain the full financial reward for their efforts. Whatever the reason, a number of dangers exist. Probably the greatest concern is the possibility of business failure. Read on for guidance on some of the factors which need to be ...
 
 This document is locked, you will need to be registered and logon to view it(Locked) Could I Really Make a Go of it?
Many people wonder deep down if they could really make a go of running their own business. It is not for everyone but the following is a list of attributes that successful business owners have. You do not need all of these characteristics but ‘go-getters’ have the majority of the qualities.
 
 This document is locked, you will need to be registered and logon to view it(Locked) Business Structures - Which Should I Use?
Having made the decision to be your own boss, it is important to decide the best legal and taxation structure for your enterprise. The most suitable structure for you will depend on your personal situation and your future plans. The decision you make will have repercussions on the way you are taxed, your exposure to creditors and other matters.
 
 This document is locked, you will need to be registered and logon to view it(Locked) Business Plans
Every new business should have a business plan. It is the key to success. If you need finance, no bank manager will lend money without a considered plan.
 
 This document is locked, you will need to be registered and logon to view it(Locked) Raising Finance
Every business needs finance - whether it is just starting up or looking to develop and grow. But what type of finance is best suited to the development of your business, and who should you approach for funding? We provide guidance below on types of finance available and outline the planning required before approaching any lending institution.
 
 This document is locked, you will need to be registered and logon to view it(Locked) Sources of Finance
The financing of your business is the most fundamental aspect of its management. Get the financing right and you will have a healthy business, positive cash flows and ultimately a profitable enterprise.
 
 This document is locked, you will need to be registered and logon to view it(Locked) Insuring Your Business
When starting a new business, you will no doubt recognise the need for insurance. It can provide compensation and peace of mind should things go wrong but can also represent a significant cost.
 
 This document is locked, you will need to be registered and logon to view it(Locked) Grants
Obtaining finance is not always easy especially if yours is a small business and particularly if it is a recent start-up. Borrowing may be difficult due to lack of security. A grant may be the answer.
 
General Business
 
 This document is locked, you will need to be registered and logon to view it(Locked) Directors’ Responsibilities
The position of director brings both rewards and responsibilities upon an individual. Whether you are appointed to the Board of the company you work for or you are involved in establishing a new business and take on the role of director you will feel a sense of achievement.
 
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Company legislation provides an opportunity for a business organisation to benefit from the protection of limited liability, separating the legal persona of the organisation from the individuals who own it.
 
 This document is locked, you will need to be registered and logon to view it(Locked) Grants
Obtaining finance is not always easy especially if yours is a small business and particularly if it is a recent start-up. Borrowing may be difficult due to lack of security. A grant may be the answer.
 
 This document is locked, you will need to be registered and logon to view it(Locked) Valuing Your Business
There are many reasons why you may need to calculate the value of your business. Here we consider the range of methods available as well as some of the factors to consider during the process.
 
 This document is locked, you will need to be registered and logon to view it(Locked) How Can I Protect My Business Assets – Intellectual Property, Trademarks, Copyright, Designs and Patents
Many businesses think of their valuable business assets in terms of tangible items such as premises, equipment and people. However there are a whole range of intangible business assets collectively known as intellectual property which can bring you many valuable business benefits. Every business should know how to protect and exploit these rights.
 
 This document is locked, you will need to be registered and logon to view it(Locked) Buying and Selling Businesses
At some stage, those who have built up and are running a business may wish to sell it in order to realise value from it. Or they may wish to exit the business at a particular point in time, e.g. on retirement. This factsheet outlines some key considerations for those thinking of buying or selling businesses which are incorporated as private companies.
 
 This document is locked, you will need to be registered and logon to view it(Locked) Money Laundering and the Proceeds of Crime
Recent times have seen tough new rules introduced to crack down on money laundering and the proceeds of crime. The new rules affect a wide range of people and in this factsheet we consider how your organisation may be affected.
 
 This document is locked, you will need to be registered and logon to view it(Locked) Limited Liability Partnerships
From 6 April 2001, there is a business vehicle in addition to companies, traditional partnerships and sole traders. It is now possible to run your business using what is known as a Limited Liability Partnership (LLP).
 
 This document is locked, you will need to be registered and logon to view it(Locked) Raising Finance
Every business needs finance - whether it is just starting up or looking to develop and grow. But what type of finance is best suited to the development of your business, and who should you approach for funding? We provide guidance below on types of finance available and outline the planning required before approaching any lending institution.
 
 This document is locked, you will need to be registered and logon to view it(Locked) Sources of Finance
The financing of your business is the most fundamental aspect of its management. Get the financing right and you will have a healthy business, positive cash flows and ultimately a profitable enterprise.
 
 This document is locked, you will need to be registered and logon to view it(Locked) Insuring Your Business
When starting a new business, you will no doubt recognise the need for insurance. It can provide compensation and peace of mind should things go wrong but can also represent a significant cost.
 
 This document is locked, you will need to be registered and logon to view it(Locked) Preventing Identity Fraud
Identity fraud is one of the fastest growing crimes in the UK. According to Home Office statistics an estimated 100,000 people are affected by the offence every year, leading to annual losses of more than £1.7 billion. A series of high-profile data breaches have fuelled concerns over the scale of the threat, bringing the issue firmly into the public domain.
 
 This document is locked, you will need to be registered and logon to view it(Locked) Corporate Manslaughter: the New Rules for Business
Ensuring that you are protected against potential health and safety litigation is a necessary part of managing your business. However, this obligation now carries even greater significance following the recent changes to the law on corporate manslaughter.
 
 This document is locked, you will need to be registered and logon to view it(Locked) Fraud and How to Spot It - Ten Step Guide
Major corporate frauds and collapses hit the headlines from time to time and many of these were high profile and the amounts involved quite spectacular.
 
Business Property
 
 This document is locked, you will need to be registered and logon to view it(Locked) Taking a New Commercial Lease
Taking a new lease of premises is a serious step. You will be entering into a long term liability that you cannot get out of easily. The liabilities will extend beyond paying the rent and rates to include such things as keeping the property maintained and decorated and complying with any requirements imposed by the landlord or by statute.
 
 This document is locked, you will need to be registered and logon to view it(Locked) What to do at the End of Your Lease - A Guide for Business Tenants
What happens at the end of a lease can be more expensive to sort out than taking the lease in the first place. You may or may not have ‘security of tenure’ depending on whether certain forms were served on you by the landlord before the start of the lease. Even if you have security the landlord can oppose the grant of a new lease if they can prove certain grounds for possession.
 
 This document is locked, you will need to be registered and logon to view it(Locked) How to Deal with Rogue Contractors
Embarking on building works or home improvements can be an expensive and time-consuming business, so it is important to plan carefully in order to avoid any additional problems, such as disputes with the contractor – and should the worst happen, to make sure the appropriate steps are taken to rectify the situation.
 
 This document is locked, you will need to be registered and logon to view it(Locked) Recovering Possession of residential property against a tenant
As a landlord, you may occasionally find that it is necessary to take action to recover possession of a property against your tenant(s). This factsheet sets out some of the points you should consider, and the action you need to take, when dealing with the sensitive issue of tenant evictions. The information provided is intended for guidance only, and relates to the law currently applying in England and Wales.
 
 This document is locked, you will need to be registered and logon to view it(Locked) Dealing with squatters or trespassers on your land or property
If you discover trespassers or squatters in your property or on your land you will need an order from the court in order to remove them. In cases where the trespasser does not dispute your entitlement to recover possession, the procedure will be straightforward for obtaining the order and recovering possession, but if the trespasser does dispute your entitlement there will be a full hearing before a judge. It is always a good idea to obtain advice when seeking to recover possession ...
 
Information Technology
 
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In order to protect the firm, its employees, and customers and suppliers, all members of staff should be given a copy of the firms policy regarding acceptable use of IT resources - particularly internet and e-mail access. This will form part of the contract of employment - to the extent that any breaches of the policy could result in disciplinary action, and in some cases dismissal.
 
Employment and Pensions
 
 This document is locked, you will need to be registered and logon to view it(Locked) The National Minimum Wage
The National Minimum Wage (NMW) and National Living Wage (NLW) are the legal minimum wage rates that must be paid to employees.
 
 This document is locked, you will need to be registered and logon to view it(Locked) Statutory Sick, Statutory Maternity And Statutory Paternity Pay
Statutory Sick Pay (SSP), Statutory Maternity Pay (SMP), Statutory Paternity Pay (SPP) and Shared Parental Pay (ShPP) are important regulations to understand as they enforce minimum legal requirements on employers. Each operates in a different way. This factsheet sets out the main principles of the regulations and what an employer needs to consider.
 
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There have been many changes to employment law and regulations in the last few years. A key area is the freedom or lack of freedom to dismiss an employee.
 
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Most claims for discrimination in recruitment have no maximum limit. Can your business afford compensation of perhaps £20,000 because you made a simple mistake?
 
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Most claims for discrimination in recruitment have no maximum limit. Can your business afford compensation of perhaps £20,000 because you made a simple mistake?
 
 This document is locked, you will need to be registered and logon to view it(Locked) Managing Absence
Recent surveys indicate that the adverse impact of absence on business profitability today is significant, with thousands of man hours lost every day. We consider the main principles of effective absence management.
 
 This document is locked, you will need to be registered and logon to view it(Locked) Health and Safety
It is very likely that owners and managers of many smaller businesses are not aware of just how demanding health and safety regulations can be.
 
 This document is locked, you will need to be registered and logon to view it(Locked) Legal Working in the UK
In line with the Immigration, Asylum and Nationality Act 2006, it is a criminal offence to employ anyone who does not have an entitlement to work in the UK, or undertake the type of work you are offering. Any employer who does not comply with the law may be facing a fine of up to £20,000 per offence. Further, if employers knowingly use illegal migrant labour it could carry a maximum five year prison sentence and/or unlimited fine.
 
 This document is locked, you will need to be registered and logon to view it(Locked) Avoiding Charges of Discrimination
Both the nature of the workforce and patterns of work have changed dramatically over recent years and there is now in place a host of legislation designed to protect employees from discrimination. As an employer it is vital that you are fully aware of your obligations and that you take action to implement them across your business.
 
 This document is locked, you will need to be registered and logon to view it(Locked) Age Discrimination
The Equality Act 2010 replaces all previous equality legislation, including the Employment Equality (Age) Regulations 2006. The Equality Act covers age, disability, gender reassignment, race, religion or belief, sex, sexual orientation, marriage and civil partnership and pregnancy and maternity. These are now called ‘protected characteristics'.
 
 This document is locked, you will need to be registered and logon to view it(Locked) Occupational Pension Schemes: Trustees' Responsibilities
Many employers offer their staff an opportunity to save for their retirement through an occupational (or company) pension scheme. We outline in this factsheet the main responsibilities of occupational pension scheme trustees.
 
 This document is locked, you will need to be registered and logon to view it(Locked) Annual Leave
Under the Working Time Regulations 1998 (as amended), workers are entitled to paid statutory annual leave of 5.6 weeks (28 days if the employee works five days a week). This basic entitlement is inclusive of bank holidays. This annual leave entitlement is now closer to that of workers in other European countries, where holiday allowance is typically more generous.
 
 This document is locked, you will need to be registered and logon to view it(Locked) Gardening Leave
Garden leave or “gardening leave” is the name given to a period where an employee has given, or has been given, notice of dismissal and is ordered to serve out the period of notice at home, whilst still receiving their normal salary.
 
 This document is locked, you will need to be registered and logon to view it(Locked) Corporate Manslaughter: the New Rules for Business
Ensuring that you are protected against potential health and safety litigation is a necessary part of managing your business. However, this obligation now carries even greater significance following changes to the law on corporate manslaughter.
 
 This document is locked, you will need to be registered and logon to view it(Locked) Recruitment and Discrimination
Recruiting the right staff is the key to success for any business. The recruitment process, however, can be problematic and costly if you do not address the issue of discrimination from the very beginning.
 
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No-one likes a claim being brought against them for discrimination. It takes time and resources to deal with, and can cause serious damage to a firm's reputation. Taking a few sensible precautions can reduce the chances of a claim, and significantly reduce the chances of any claim being successful.
 
Corporate and Business Tax
 
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Corporation Tax Self Assessment (CTSA) was introduced in 1999. It completed the self assessment reforms introduced for individuals some years earlier by extending the principles of self assessment to company tax returns.
 
 This document is locked, you will need to be registered and logon to view it(Locked) Companies - Tax Saving Opportunities
Due to the ever changing tax legislation and commercial factors affecting your company, it is advisable to carry out an annual review of your company's tax position.
 
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The issue of whether to run your business as a company or a sole trade or partnership is an important decision. In this factsheet, we summarise the relevant tax changes and show the potential tax savings currently available from operating as a company.
 
 This document is locked, you will need to be registered and logon to view it(Locked) Franchising
Franchising is becoming increasingly popular in Britain with an annual turnover of around £15.1 billion. The business community now takes franchising very seriously and it is accepted across a range of sectors.
 
 This document is locked, you will need to be registered and logon to view it(Locked) The Construction Industry Scheme
The Construction Industry Scheme (CIS) sets out special rules for tax and national insurance (NI) for those working in the construction industry.
 
 This document is locked, you will need to be registered and logon to view it(Locked) Capital Allowances
The cost of purchasing capital equipment in a business is not a tax deductible expense. However tax relief is available on certain capital expenditure in the form of capital allowances.
 
VAT
 
 This document is locked, you will need to be registered and logon to view it(Locked) VAT
VAT registered businesses act as unpaid tax collectors and are required to account both promptly and accurately for all the tax revenue collected by them.
 
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It is quite possible within the VAT system for a business to be in the position of having to pay over VAT to HM Revenue & Customs while not having received payment from their customer.
 
Employment Issues (Tax)
 
 This document is locked, you will need to be registered and logon to view it(Locked) Travel and Subsistence for Directors and Employees
Travelling and subsistence expenditure incurred by or on behalf of employees gives rise to many problems.
 
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Today the remuneration of many directors and employees comprises a package of salary and benefits.
 
 This document is locked, you will need to be registered and logon to view it(Locked) Cars for Employees
The current regime for taxing employer provided cars (commonly referred to as company cars) is intended to encourage manufacturers to produce cars which are more environmentally friendly and to give employee drivers and their employers a tax incentive to choose more fuel-efficient and environmentally friendly vehicles.
 
 This document is locked, you will need to be registered and logon to view it(Locked) National Insurance
National insurance contributions (NIC) are essentially a tax on earned income. The NIC regime divides income into different classes: Class 1 contributions are payable on earnings from employment, while the profits of the self-employed are liable to Class 2 and 4 contributions.
 
 This document is locked, you will need to be registered and logon to view it(Locked) Share Ownership for Employees - EMI
Retaining and motivating staff are key issues for many employers. Research in the UK and USA has shown a clear link between employee share ownership and increases in productivity. The government has therefore introduced two ways in which an employer can provide mechanisms for employees to obtain shares in the employer company without necessarily suffering a large tax bill.
 
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The basic procedures to help you set-up and run your payroll.
 
Specialist Areas
 
 This document is locked, you will need to be registered and logon to view it(Locked) Charities : Trustees' Responsibilities
It is often considered an honour to act as a trustee for a charity and an opportunity to give something back to the community. However, becoming a trustee involves a certain commitment and level of responsibility which should not be underestimated.
 
 This document is locked, you will need to be registered and logon to view it(Locked) Community Amateur Sports Clubs
Since April 2002, many local amateur sports clubs have been able to register with the Revenue as Community Amateur Sports Clubs (CASCs) and benefit from a range of tax reliefs including Gift Aid.
 

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