I would consider whether an enhanced R&D claim is possible instead? Obviously depends on terms of the development and whether there is any subcontracting involved?Much more tax efficient.
Another major advantage which has not been mentioned here is the ability to set up a SSAS and remove all Corporation tax following incorporation. Particularly now the new pension rules are so favourable.
Accountant as IFA I became an IFA several years ago as I feel it is extremely complementary to the work of a Chartered Accountant allowing him to give a more complete service. The exams are very easy there is an excellent revenue stream (even rebating some commissions to clients)and I would recommend it. FSA Regulation can be tedious though.
My answers
CCH?
Wouldn't bother getting a quote from CCH-Their premiums are astronomic, esp for a small Practice!
TAXWISE
Using Taxwise is fine until you claim more than your premium in a year-Then they don't want to know you! They have a we win, you lose policy!
R&D CLAIM INSTEAD?
I would consider whether an enhanced R&D claim is possible instead? Obviously depends on terms of the development and whether there is any subcontracting involved?Much more tax efficient.
Many thanks for your helpful comments. Much appreciated!
Negligible value
Thanks to all contributors here as always-Much appreciated!
Too late?
Yes but the shares existed at 5th April 2014 and the Tax Return has not been submitted yet?
Putting SSAS in place
Another major advantage which has not been mentioned here is the ability to set up a SSAS and remove all Corporation tax following incorporation. Particularly now the new pension rules are so favourable.
Goodwill values?
Goodwill value seems a bit low to me-How was this calculated?
CRM
Goldmine every time. Have been using it for our Group of Companies for 10 years and found it indispensable. Highly recommended.
Accountant as IFA
I became an IFA several years ago as I feel it is extremely complementary to the work of a Chartered Accountant allowing him to give a more complete service. The exams are very easy there is an excellent revenue stream (even rebating some commissions to clients)and I would recommend it.
FSA Regulation can be tedious though.