Beware of Fancy Financial Adviser Titles. Photo Most investors don’t realize that when they walk into a bank or brokerage firm branch, the representatives there are essentially free to emblazon their business cards with whatever titles they please — financial consultants, advisers, wealth managers, to name a few.
But if you’re looking for someone who is qualified to give smart advice about all aspects of your financial life while keeping costs down, you may not be in the right place. The issue came up again earlier this week in an article by my colleagues at The New York Times, who quoted former JPMorgan Chase brokers as saying they were encouraged to promote the firm’s own funds to customers even when more competitive investments were available. Not only were the funds expensive, but the bank also exaggerated at least one investment portfolio’s returns. This may be one of the more blatant examples of the possible pitfalls when working with a bank or brokerage firm. Let us name a few. Mercer E. Paying HMRC (Her Majesty's Revenue and Customs) in UK.
The HMRC will openly tell you on their website that they have duty of care, not just to collect taxes, but to sometimes set an example to the tax paying public.
Once you have decided that you need more time to pay and you cannot pay the taxes in full when they are due, you should contact HMRC immediately. A visit to the HMRC website will tell you that they will not accept payment outside of twelve months unless there are exceptional circumstances. They will also tell you that they will not negotiate the amount owed to a reduced settlement figure. There are plenty of stories about firms reducing the tax paid from the amount owed, but whilst there are exceptions to every rule these stories are in the main, fictitious. You should also keep in mind that HMRC will insist that all other ongoing taxes are paid promptly when due.
So a typical time to pay arrangement will last twelve months and all other taxes must be paid when they are due or any HMRC agreement will be in default. 8 Tips and Resources for Managing Your Business Finances. One area many business owners struggle with is keeping track of their finances, but it is one of the most important areas given that cash flow is the lifeblood of the business.
Small mistakes and a lack of knowledge and resources can be costly and problematic. We’ve selected some of the most important things to consider and provide these tips and resources. Find the best local credit union. Given their frequent willingness to provide loans, finding a credit union that understands the needs of your business can go a long way. There are many online tools to find credit unions based on specified criteria. About the Author: David Cotriss is a business/tech and new media writer, having published 500+ news and feature articles to date worldwide in magazines ranging from PC Magazine to The Industry Standard.