Monthly Archives May 2021

Part 4 We are often asked by our clients how they can best extract profits from their company without falling foul of the dreaded Tax Man. Completing company accounts is not and should never be just about ticking the compliance box for the company, it should also be about the owner’s aspirations.  That is why during our regular reviews with our clients we look at where the business is, there the Director/Owner is, what they want to achieve and how we can help them reach those goals. In this instalment we look at withdrawing funds through – company pension funds.
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It is reported that 720,000 businesses are now in significant financial distress, in a recent report published by Begbies Traynor, the 15% rise from the previous quarter was the largest increase since 2014.  Read the full article by the FT here. With government support due to end later this year, maybe now is the time for directors to consider the position of their company and to pay particular attention to the debt that they are carrying.  If all their debts became due immediately, could they make the repayments?  Are you one of the companies considered to be in distress? March
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