Finance

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By Tom Horrocks

Can I see your Fraud Prevention Policy asks PI Insurer

Professional indemnity insurers are starting to ask: “what are your firm’s fraud prevention policies and procedures?” before offering a quote.  When the annual cost of fraud to the UK economy moves from £Millions to £Billions, and the SRA lists cybercrime and social engineering as one of its ‘priority risks’, then your ability to avoid becoming a victim of fraud, as well as claims in negligence, becomes important to your insurer.     

By Clay Shaw Butler Chartered Accountants & Business Consultants

The New HMRC Approach - Which Limited Liabilities Partnerships (LLP) members will be deemed employees?

 

Since their introduction at the turn of the century, LLPs have become progressively more widespread as a vehicle for carrying on a variety of businesses. The LLP is a unique entity as it combines limited liability for its members with the tax treatment of a traditional partnership. Currently individual members of an LLP are deemed to be self-employed and are taxed as such on their respective profit shares rather than as an employee and subject to the PAYE system.