If you want to succeed in business, understand that Cash is King. Your business can’t survive without cash.
A tax bill passed in May made changes that affect cashflow.
Taxpayers who earn income from various sources may get caught short if they don’t plan ahead. This could come about in various ways:
- Overseas investment
- Shares in an overseas company
The way contractors pay tax changed on 1 April, giving greater choice, and making it easier to get tax right.
Changed Research and development (R&D) tax credit rules, which came into effect at the start of the 2016 income year, can help business cashflow.