First of all, I’d like to thank those readers concerned
enough about the plight of the PBTG team to write to the Editor
on our behalf. Thanks to the tens of…well, just tens,
actually (but it’s the thought that counts), we have
now been relocated to a spacious room on the lower ground
floor. There are, it must be said, still some issues, but
I like to think that the gurgling hot water pipes and stacked
furniture just make things feel cosy. And Bob the maintenance
man? Well, he’ll hopefully get over having to share
his basement soon...
In more interesting news, things are on the up for SMEs
in Asia Pacific, or so it appears from the results of HSBC’s
latest Small Business Confidence Monitor, which revealed that
for the first time since the global economic crisis, all Asian
markets reported a positive
outlook in terms of local economic growth, recruitment, and
capital investment.
Although overall in the Asian region, SME confidence
levels were pretty much maintained from the previous poll
in late 2009 (with an index ranking of 121, compared to 122
in Q4 2009, and where 0 represents the lowest level of business
confidence, and 200 the highest), Singapore was a particular
standout, with business confidence levels having jumped 19
points, from 117 to 136.
Singapore’s SMEs were revealed to be bullish in
a number of areas, including with regard to their expectations
for economic growth (with 57% expecting the pace of growth
to increase), compared to 35% in Asia generally, and just
10% in Western Europe.
Capital expenditure levels are also expected to increase
over the coming six months by 42% of the Singaporean SMEs
(up from 30% when they were last questioned, late last year),
and 57% stated that they at least planned to maintain current
levels of investment in their businesses.
Meanwhile, 98% stated that they were planning to expand
their workforces, or to maintain current staffing levels,
with just 2% planning to make cuts.
Anyway, that’s me done for another week, so I’m
off to see if I can persuade Bob to stop pelting my team with
spitballs. The sub-editor is currently being used by the others
as a human shield, and it ain’t pretty…
According to figures recently released by the UK's Federation of Small Businesses, SMEs and micro-businesses were hard hit in the final quarter of last year by a combination of factors, including increased utility bills, high inflation, and reduced consumer spending power. RSS
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The implementation of new rules and support for SMEs and other businesses in Singapore to re-employ older workers, in the face of a rapidly ageing population took effect earlier this month. RSS
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Figures published by the Hong Kong Companies Registry earlier this month have revealed that the number of start-ups registering in 2011 showed an increase of 6.31% last year on 2010 figures, with a record 148,329 registering over the course of the year. RSS
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The Irish Small and Medium Enterprises Association (ISME) has this month slammed the Republic's government once again for delays in implementing the jobs initiative that was a key post-election pledge. RSS
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Concern has been expressed regarding a ramping up of HM Revenue and Customs' Business Record Checks programme set to take place in April, with many small businesses fearing that the fine which can be imposed if they fail to provide adequate records to support their tax returns may push them into insolvency. RSS
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I am facing a dilemma and would like to invite any reader to advise me.
I am a Brit who has lived outside UK since 1993- initially in Belgium (5 years) & subsequently in 4 African countries. After a year outside UK, the UK Inland Revenue confirmed my status as ‘non-resident’ for tax purposes and as I have had no income in UK, I have not completed a UK tax return for many years. I visit UK very rarely, normally for one or two weeks per year.
In May 2011, I was made redundent by my employers, who were downsizing. This coincided with a move to retire in the Netherlands, where I now have official residency (my wife is Dutch). I thought that, at 63 years of age, I would be unlikely to find suitable employment; in fact, I have not tried hard and had resigned myself to permanent (but slightly premature) retirement.
However, to my surprise, I have recently been approached (through a mutual acquaintance) by a company that wishes to use my skills on a project in the Isle of Man. The role, if & when confirmed, would see me working for about 10 days a month in Isle of Man, with about 5-7 additional days per month, working from home. Contract will be for about two years. The firm has asked me to confirm if I would prefer to be paid (and therefore be taxed) in Netherlands or Isle of Man, the idea being that I create a self-employment entity for this employment. I have no data on which to base a response. Given Isle of Man's traditional ‘low tax ‘environment, are there any benefits to declaring an income in IOM? Are there any Isle of Man residency implications? Netherlands takes a tax cut on total world wide income, and, as I have never had any contact with the Dutch authorities, I am reluctant to start such a relationship now. Do I have to declare income in both countries, with a breakdown prorata to the time spent in each jurisdiction? Should I declare income to UK Inland revenue?
If anyone has pertinent advice on these points, I’d be grateful to hear them.
Just wondering if anyone 'on the ground', as it were, might be reading and able to help me...I was considering relocating my hairdressing business from the UK to Ireland before the economy started to go properly belly-up...now, not so much.
Are things as bad as they seem over there, or is it being over-hyped by the media? And is the government still keen to support small business people? Cos if not, I'll look elsewhere...
Hi, I live in South Africa, and along with 2 business partners (one in South Africa and one in Ireland - all South African citizens though) are setting up a company that designs Smart phone applications. As they will be sold on the various platforms (none of which operate out of South Africa)we have to list our company as operating out of Ireland anyway. As such, we have decided to set up our company in the best tax country and are wanting info on whether Jersey or Malta is best? If anyone has some inside info we would really appreciate it!! Thanks!Mary
I am moving full time to France in Jan 2012 where I will be working as a freelance contract engineer to a number of Australian based companies. It is my choice to move to France not a work requirement. I will be renting my house out in Austrlalia and renting a house while I am in France. I hold both EU & Austrlain citizenshiip. I am married with 2 young children. Approx total family income $100k AUD. Do I pay tax in France or Australia or both ? Any help or guidance would be much appreciated.France move
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