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Everyone knows that starting a business is risky but once over that stage most entrepreneurs look to the next challenge – growing the business. In many ways this is much more of a risk as if you get it wrong – and the line between success and failure can be a very fine one – […]

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In the UK there are four main ways you can structure your business: as a sole trader; in partnership with one or more other people; as a limited company; or as a member, with one or more persons or companies, of a Limited Liability Partnership. When deciding on the appropriate structure for running your business […]

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Under EU law each member state must elect their MEPs (Members of the European Parliament) by a system of Proportional Representation (“PR”). However it is left to member states to choose which particular version of PR system they will use. PR is designed to ensure that the number of seats won by a party or […]

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The one aspect most likely to delay the start of business for a new company is not the actual incorporation but the printing of stationery, design of website and so on.. Letter headings and other stationery cannot be printed until after the company is incorporated. This is not just commercial prudence in case a name […]

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There have always been people who liked the idea of starting and running their own business. They like the idea of the freedom and independence this offers – though in fairness there are downsides too – working alone, doing all the accounts and paperwork etc. It isn’t as easy as you might think. In the […]

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No one likes getting complaints from customers but the fact is that if you handle a complaint well you can make the complainer into an asset – someone who will praise your business. OK, we all know that there are some people you can never please no matter what you do and there are some […]

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The basic ways to structure your business are as a sole trader, in a partnership, or as a limited company. If you trade as a Limited Company you are said to be an “incorporated business” any other structure is called “unincorporated”. You should think carefully about which structure would be best for your business. There […]

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Networking refers to the practice of interacting with associates, fellow entrepreneurs, colleagues and other people to build a network of far-reaching contacts. Today, networking has become an integral element of conducting business as it helps to reach wider audiences and perhaps maximize client base in the process. A very famous entrepreneur Robert Kiyosaki once stated […]

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The doom and gloom-mongers in the British media, as well as some politicians, are claiming that yesterday’s decision by the European Court of Justice (ECJ) rejecting the British government’s challenge to the operation of the Financial Transaction Tax (FTT) spells disaster for the City of London. But in the immortal words of Corporal Jones in the […]

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The Isle of Man has been awarded the top ‘Compliant’ rating by the global body reviewing tax transparency around the world. The OECD (Organisation for Economic Co-operation and Development) Global Forum on Transparency and Exchange of Information for Tax Purposes has just published ratings for the 50 countries reviewed to date and the Isle of […]

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According to many a tax haven is a jurisdiction (a state, country or territory) where one or more type of tax is levied at a low rate or not at all. Others have suggested that any country which modifies its tax laws to attract foreign capital could be considered a tax haven. On that basis […]

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Recently there has been a lot of negative comment in the press regarding the use of interns in the City of London and elsewhere. Generally, an internship consists of an exchange of services for experience between the intern and an organisation. Interns can use an internship to determine if they have an interest in a […]

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Most people know the phrase “Stockholm Syndrome” from the numerous high-profile kidnapping and hostage cases – usually involving women – in which it has been cited. The term is probably most associated with Patty Hearst, the Californian newspaper heiress who was kidnapped by revolutionary militants in 1974. She appeared to develop sympathy with her captors […]

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On this day in 1958, the U.S. nuclear submarine Nautilus – completed the first undersea voyage to the geographic North Pole. The world’s first nuclear submarine, the Nautilus dived at Point Barrow, Alaska, and traveled nearly 1,000 miles under the Arctic ice cap to reach the top of the world. It then traveled on to […]

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The Institute of Directors (IoD) has just released a new report, The Midas Touch, which reveals how EU directives have been ‘gold-plated’ during translation into UK law, creating unnecessary additional burdens for businesses. The report calls on the Government to fulfil its pledge to carry out a comprehensive review of all EU laws to identify […]

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Ahead of this week’s Queen’s Speech and following a survey of IoD members, which found that the two biggest factors holding back businesses are the economy and government regulation, the Institute of Directors (IoD) has called for the introduction of three Bills. The IoD accepts that there are no quick fixes for our economic situation, […]

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For several years HM Revenue & Customs (HMRC) have been concerned that directors and shareholders of companies, referred to as “close companies”, have been able to avoid paying tax by abusing rules relating to loans made to directors, shareholders or other “participants” or indeed to their associates. Typically this might involve a director or shareholder […]

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 In his Budget yesterday UK Chancellor George Osborne responded positively to calls from the London Stock Exchange and abolished stamp duty on shares of companies listed on growth markets including the Alternative Investment Market (AIM) and the ISDX Growth Market. The Stock Exchange, financial institutions, and business organisations have long argued that removing stamp duty […]

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According to Chief Minister Allan Bell, the Isle of Man is beginning to get its message across to senior politicians, decision makers and opinion formers in the UK, EU and further afield that it is part of the solution not part of the problem of tax evasion. Mr Bell and Treasury Minister Eddie Teare attended […]

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The Court of Appeal has now confirmed the decision of the Upper Tier Tribunal in Anson –v- HMRC, a case dealing with the issue of whether a Delaware Limited Liability Company was tax transparent or not. Mr Anson was a member of a Delaware LLC which carried on business in the US. Since a Delaware […]

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