What do we look for when we consider the risk of financial distress? A recent review of a sample of ten companies showing signs of being "at risk of financial distress" found five had an "emphasis of matter" in their auditor's report, and the other five had one or...
Finance
How to rate your accountant
A 31 March year-end is popular. But this may mean your auditor and accountant are squeezing your work into their busiest time of year, with a resultant loss of focus on your business affairs. Review whether you need your work done at a time of the year when the team...
Changes to R&D Tax Credits: What You Need to Know
There have been many changes made to the UK R&D tax relief schemes. Much of what was previously mooted by the Government has now been ratified and some additional details on how the changes will work are available. Headline summary: Most striking is that R&D...
Changes to Capital Allowances in the Budget
There has been some positive news for claimants of Capital Allowances for Property Embedded Fixtures and Fittings in the Budget As expected with the increase in corporation tax taking effect from 1/4/23 the Super Deduction will end - this was designed to give you...
Are you the subject of an HMRC R&D Tax Relief enquiry?
There has been a rash of these enquiries in these last few weeks with a deliberately scary and sometimes perceived as threatening incoming letter demanding detailed explanations of why your claim qualifies, details of how the time of staff and consultants were...
When a business collapses do you always heed the lessons?
When business people see the increasing number of articles coming out about the collapse of businesses in the public eye, there is a temptation to think that it is solely a result of them growing too big and too fast. However, like the collapse of any business, there...
7 next steps if you’ve been rejected for business finance
In a perfect world, every business would secure its funding choice immediately without a hitch. However, this is often not the case. Lenders and investors have set criteria they stick to when considering businesses, and not everyone will meet them. Funding isn’t an...
7 credit management tips for maintaining cash flow
Maintaining positive cash flow is integral to the long-term running of your business. It enables you to meet your financial commitments and keep your operations ticking. However, there are constant threats to cash flow. One that frequently affects businesses is late...
Should you lease or buy business assets?
Every company needs assets to operate, from machinery and hardware to vehicles and furnishings. Without these, staff cannot do their jobs and customers are left unserved. However, securing these assets comes at a substantial cost. Buying assets outright requires...