Managing the Monster

YEAR END TAX REVIEW 2017-2018 The tax system behaves like a hydra monster, no sooner has one head been chopped off, two more grow in its place. From April 2018 the UK will have three versions of land transaction tax and three types of landfill tax (in Scotland, Wales and the rest of UK). There are also likely to be …

Offshore Non-Compliance

IMPORTANT NOTICE TO ALL CLIENTS from Marc Bennett : Tax Investigations as a result of Offshore non-compliance – VERY IMPORTANT I am writing to advise you that if you have any under declared taxes from overseas assets i.e. tax that should have been paid on bank interest, property income or other overseas assets, then it is vitally important that a …

News

HELLO, WELCOME TO THE AEL NEWSLETTER Business Owner #1: “Are you busy?” Business Owner #2: “Yes I’m really busy.” Business Owner #1: “That’s great, you must be making enormous profits” Business Owner #2: “Errm…actually no, I’m too busy” Recognise the above? This recurring conversation between business owners takes place every minute of every day. Building a sustainable, profitable, and world class …

View from AEL: January 2018

The month of January should be a fresh start to a brand new year. A chance for practice owners to embrace and implement the changes needed to both compete and flourish. However, for many, the wave of optimism is dampened by the looming spectre of tax bills where payment once seemed so far away. There is no escape from having to …

View from AEL: October 2017

The expression “take stock” is a well-worn idiom meaning to consider first and act later. But it’s quite remarkable how many independent optical practices don’t set aside the time to consider how decisions on stock control can affect the profitability of their practice. Independents Day on November 6th will be headlined detail for successful retail and will include sessions on …

View from AEL: September 2017

Las Vegas. Fortunes made and lost on the spin of a roulette wheel. Which brings me to one of the most frequently asked questions by practice owners; how much of a gamble is claiming overseas travel expenses as a tax deduction? Vision Expo West (VEW) is taking place in Las Vegas as I type so it seems topical to look at …

Rocket Fuel for Practice Owners #2

Marc Bennett has spent over 25 years analysing and advising on the finances of some 1,000 opticians’ practices around the UK. He is an expert in the areas of practice valuation, maximising VAT recovery and tax efficient Exit strategies. In the second of a 5 part series he’ll be looking at increasing profitability through a practice refurbishment and financing the …

Rocket Fuel for Practice Owners #1

Marc Bennett has spent over 25 years analysing and advising on the finances of some 1,000 opticians’ practices around the UK. He is an expert in the areas of practice valuation, maximising VAT recovery and tax efficient Exit strategies. In the first of a 5 part series he’ll be looking at increasing the profitability of a practice by reducing low-return …