Lambert Roper & Horsfield Limited Accountants Calderdale
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Most businesses are very good at providing the products and services that their customers need – but running a business involves much more than that.

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The financial world is a complicated place and there are times when you’ll need some expert help.

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You are here: Home » Business services in Calderdale » Strategic Business Planning

Strategic Business Planning services in Calderdale


Running a business is a full-time job, so it’s not surprising that many owners and managers are often too busy to think about the bigger picture.

But if you want to give your business the best chance of success, you need a clear idea of where you are going and how to get there.

That’s where business strategy comes in – to define your goals, your game plan and the funding, management tools and work practices you need achieve them.

But it’s tough to do it alone, which is why taking independent advice from experienced people can help you to look at your enterprise with fresh eyes and develop a strategy that gives you a focus for the future.

Our expertise in business strategy has been built up over decades, working with hundreds of clients from all types and size of business.

We’ll start by working with you to decide on your overall direction, then produce budgets and projections to test and improve the viability of your plan.

We’ll also help you to put in place the structures you will need to devise key performance indicators to measure your progress along the way. This detailed planning can also be documented to support proposals for funding to help you achieve your goals.

You will almost certainly need different strategies for different stages of the life of your business but we also encourage you to regularly review your plan – whether this is monthly, quarterly or to look at a specific issue – so that you stay on track to achieve what you want and develop your plan to reflect any new opportunities.

To find out more about how we can help you, please contact LRH accountants in Calderdale.

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Get in touch!


Telephone: 01422 360788

Email: mail@lrh.co.uk

"We provide proactive and timely advice, based on an in-depth knowledge of our clients and their businesses."

Nick Frost, Director

"Honest, long-term relationships that help clients achieve their goals."

David Roper, Director

"Accurate and timely information is essential for business owners and enables them to make the right decisions."

Sam Mitchell, Director

 
 

Latest News

Gifts out of income and their benefits to beneficiaries

June 6th, 2018

Giving away surplus income as a gift to family members is often touted as an excellent way of planning for the future and as a way of reducing liabilities on a person’s estate. But how do the rules regarding gifts work in practice?

Gifts provided from surplus income – i.e. income less usual expenditure to maintain your standard of living – are not considered as remaining part of a person’s estate, regardless of how long they survive for following the gift and should, therefore, be free of inheritance tax (IHT).

Under the current rules, there is no limit on the amount that you can give away as a gift out of income, but it is recommended that a letter of intent is prepared when making such regular gifts.

This can be provided to HM Revenue & Customs (HMRC) in the event of a short period of giving due to a change of personal circumstance. In addition, there is no requirement for the donor to survive seven years for the gifts to be free of IHT, unlike lifetime gifts.

Where gifts are to be made to a minor, and regular payments may not be appropriate, then a discretionary trust into which the payments are made might be more suitable.

Normally, there is IHT on the transfer of income into the trust if the nil rate band is exceeded, although the accumulated income in trust will not use up the Nil Rate Band. However, this does not apply where regular gifts out of income are made.

Please note that there is an IHT charge every 10 years based on the value of the trust’s assets at the date of the 10 year anniversary and the maximum tax rate is six per cent.

The 10 year charge can be avoided by distributing the assets in the trust prior to the 10 year anniversary of the trust. Alternatively, a number of different trusts could be set up with the amount invested into each trust restricted so that the nil rate band is not exceeded at the 10 year anniversary of the trust. However, the growth in the value of the assets in the trust would need to also be taken into account.

The trust should have no other assets in addition to the regular gifts out of income and each should be set up on a different day, as multiple trusts set up on the same day are aggregated for the purpose of determining whether the Nil Rate Band has been exceeded at the 10 year anniversary.

Those considering giving away surplus income should keep a record of the gifts and record their income in the fiscal year, including expenses, as this would be required by the executors to ensure no inheritance tax is payable.

Link: Inheritance Tax: Gifts

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