Wednesday January 26, 2011 at 11:26am
Business rates are one of the largest costs to SME’s but many are unaware of the tax relief available.
A business in England that occupies only one commercial property is entitled under the rules to have their bill calculated using the small business rate multiplier where the rateable value is under £18,000 (£25,500 in London).
There is also the temporary business rates cut for businesses occupying one property where the rateable value is under £12,000. See my earlier.... (read more...)
Wednesday January 19, 2011 at 12:59pm
The government has just announced its plans for the minimum price for alcohol, which it sees as a key instrument in its battle against “binge drinking” and the social and health consequences of alcohol abuse.
The method they have opted for, the rate of duty plus VAT, is the easiest to legislate for and enforce. It also follows that every time the duty changes, so will the minimum price with immediate effect. This ensures that increases are passed on to the customer where minimum pr.... (read more...)
Monday January 17, 2011 at 2:45pm
Are you optimistic or fearful as we enter the first month of 2011? Will it be a year of growth, consolidation, or one in which your business will struggle? I’m a firm believer in taking an optimistic view whilst also preparing for the worst case scenario. With that in mind I was researching the other day some of the main reasons that small businesses fail. The UK insolvency
helpline have gone to the trouble of compiling a list of 65 of the most common reasons for businesses failure. These .... (read more...)
Tuesday January 11, 2011 at 1:11pm
Businesses are still looking to reduce costs so is it possible to renegotiate a lease to reduce your premises costs?
There are a number of tactics a tenant can use to try to renegotiate their lease:
If your lease gives you the right to terminate it before the end of the term then it may be worth asking the landlord to reward you with improved terms in return for your agreement not to exercise that right. A landlord is unlikely to want to have to find a new tenant in the cu.... (read more...)
Wednesday January 5, 2011 at 11:26am
Current market conditions mean that many business owners and directors are having to face up to the consequences of personal guarantees they signed when they first started their business, took out a loan or signed a lease agreement. I've heard of numerous small business owners who have had their business loan called in by the bank. If they haven't got the money in the business to pay it back they will more than likely be personally liable as a result of having signed a personal guarantee. I.... (read more...)
Tuesday January 4, 2011 at 9:56am
As we enter 2011, one thing is for sure: company directors have never before faced so many duties, responsibilities and potential personal liability for the companies they control. Based on recent trends, we predict that the following 4 areas will be the main ones for directors of SMEs to watch out for in 2011. Directors Pay The law on how and when a director can be paid is complex and there are strict procedures that must be followed. We have seen a large increase recently in the volume of clai.... (read more...)
Monday January 3, 2011 at 6:35pm
Below are my 5 key talking points for the property market over the next 12 months:
1. Interest Rates
With continued high inflation becoming a concern it is likely that the current ultra low interest rates will begin to rise steadily later this year. This could lead to a higher volume of properties being marketed for sale in 2011 as loan repayments increase.
2. Bank Finance
I expect the same hard slog in 2011, with a continued lack of Bank finance availability for property investment and d.... (read more...)