There’s only one reason to pay yourself Dividends instead of Salary… to avoid a bit of tax / NI… but here’s 5 reasons not to… Dividends are not ‘relevant earnings’ for pension purposes.. so payments into your pension can’t be deducted from any Dividend income… but they can be from any Salary Salary makes your affairs […]
If you’ve spent money on assets you have the right to Capital Allowances… which help reduce your tax bill… but are you claiming all that you can? Sometimes keeping up with all the rules & wrinkles can be a tad too much for smaller accountancy practices… particularly the rules related to property… e.g. did you […]
R&D Tax Relief isn’t just a great way to get HMRC to help fund your Research and Development… you can use it to raise money Already Claiming? 26% of declines by banks are because of affordability… which means your business plan & forecasts haven’t convinced them that you can afford the borrowing you’ve applied for […]
When I was a trainee accountant I sat in a meeting where a client asked one of our Partners to put some of his money Offshore… The Partner thought about it… then stunned the room by waving at the door and saying “That’s the way Offshore… f*ck off” Lord knows what that Partner would say […]
If your company’s been turned down for funding by your bank is it worth appealing? Yes ! Roughly a third of appeals succeed… and for some banks it’s higher… There are a few reasons why appeals work… (e.g. you might supply more or better info on your company during the process)… but I suspect a […]
Your own view doesn’t really matter… but what your accountant thinks does… because your website can be treated as an Asset and not a Cost… … which means a boost to this year’s Profits… a strengthened Balance Sheet… and an improving credit rating… Old Rules For most of you, in the past when you bought or […]
When you come to sell your company… who you sell to can have a massive impact on the price you get… so let’s take a quick look at the Hierarchy of Buyers… worst first. Management Buy Outs (MBOs) … usually these guys don’t have the money to buy you out… so they borrow… and anyone […]
Here’s a fun site to help you find the right SIC code… SIC code Wiki And here’s a blog post explaining why you should check it out… because Standard Industry Classifications matter.. Is your SIC code making your company credit rating sick? You get to pick the SIC code that best describes your company’s activities… […]
I don’t like ’em… never have done… and I think they stand in the way of decent companies accessing the external capital they need to grow. There’s an example of the problems they cause in another post I did : The Problems with Banks… their attitude to security So why does just about every lender insist […]
Company credit ratings are affected by lots of things… but one of the major ‘unknown’ factors is a company’s SIC code… and in my experience most company’s don’t know what their’s is. SIC stands for Standard Industrial Classification… it’s used to classify your business by type of economic activity… Some can be very very specific… […]