BEFORE:

Many countries have double tax treaties or social security agreements which prevent double taxation and coordinate social security. Prima facie this seems there won’t be tax or social security implications if the contractor travels for their role.

However, double corporation tax could be applied to an office located overseas if it is established to generate local business, even if it is a home office. It is incumbent on all business owners to seek advice on how to manage their affairs to make best use of opportunities available in the most tax efficient way.

AFTER:

Many countries have treaties or agreements in place to prevent double taxation and coordinate social security. This suggests there won’t be double tax or social security implications if a contractor is travelling abroad for their role. But this isn’t always the case.

If the office is overseas to generate local business, it might be subject to corporation double tax. When growing your business overseas, it’s important to get advice on the nuances of rules to ensure you’re making your moves as tax efficiently as possible.

BEFORE:

The Board competency, skills compilations and risk management has for many years come under public scrutiny with construction business failures further adding a spotlight onto the individuals sat in those seats and the Boards ability to manage risk and strategically plan for future challenges and opportunities.

Contrary to popular belief, a Board’s job is not to manage the day-to-day operations of the business successfully but instead to be well-positioned in understanding and navigating the key risks associated with current and future business trading activities. Considering the legacy of past performances during unprecedented times – such as the COVID-19 pandemic, the conflict between Ukraine and Russia, and political uncertainty in the UK and US – there have been winners and losers, generating a wealth of learnings for Boards. However, questions remain over whether those at Board level understand how the business has been impacted by macro environments and how well it has implemented change compared to others.

AFTER:

For many years, board competency, skills compilations and risk management have come under public scrutiny. Construction business failures have brought governance into sharper focus. There is now greater weight given to the individuals in those board seats and their ability to manage risk and plan for future challenges and opportunities.

An effective board isn’t in charge of managing the day-to-day operations of the business. Instead, it should be well-positioned to understand the key risks associated with current and future business trading activities.

Recent unprecedented times – such as the COVID-19 pandemic, the conflict between Ukraine and Russia and political uncertainty in the UK and US – give us a glimpse into the way boards have handled uncertainty and adversity. But do those at the top really understand how the business has been impacted? And have firms gained a clear view on how well they have implemented change compared to others?