If you’re not a limited company, please disregard this message, and I hope you’re having a lovely day. If you are a limited company, and especially if your year end is 31st December, there’s time to plan now to avoid Corporation tax. If you’ve been making profits (remember to add back depreciation), then you’re likely to incur a tax bill. That is, if you haven’t planned ahead.
Wow what a busy June, but then June’s supposed to be. But it was fraught with machines down awaiting weeks on end for parts, so quite a challenging month. Floor grinders were the flavour of the month, for several days we were almost ‘grinderless’. From large 3-phase, even to our ever-popular HTC450 Floor grinder which is the most popular 110-v floor grinder on the market.About 8 years ago, a management decision, stick with the one branch in Warrington, Cheshire. Being...
If yours is a profitable limited company, there is a good chance you will end up paying corporation tax. Something to look into, and maybe avoid a big tax bill is Rishi Sunak’s Super Tax Deduction scheme. Basically, if you buy equipment, you’ll be eligible to claim corporation tax relief that will come to about £2,470 for every £10,000 you spend - not to be sniffed at!If you could get your hands on new flooring machines and surface preparation equipment,...
You can be sure your customer has invoiced and been paid by the main contractor but will he pay you? Bad debt incidents like this can hinder or even derail your business’s progress. You must defend your business and in situations as described above, often the best form of defence is attack! In normal times a vigorous credit control regime with statements, emails, phone calls and text messages will put you at the front of the queue of your customer’s...
