Putting Your Business Assets On The Back Burner
Many business owners are now faced with challenges of preserving their Asset and Resources these days due to COVID-19 crisis.
There is a temptation to sell off assets that are under-utilized due to the present COVID disruption. If assets are readily converted into cash this sell-off process could make a welcome contribution to cashflow.
Mothballing your entire business is another matter…
If you could stop trading and place all of your business assets – including your work-force – into hibernation, then perhaps you could close your doors and wait-out the coronavirus epidemic.
Unfortunately, most businesses have significant costs that cannot be canceled. These fixed costs, for example, rent, rates, and insurances, will need to be paid even if you are closed for business.But, for those businesses that have limited the fixed costs – say businesses run from home – mothballing may be a way to protect your business from extinction while you find other paid-for work to tide you over?
In this way you could reawaken your “sleeping beauty” business when we can once again contemplate business life without the concerns of lock-down, masks and social distancing.
The property income tax rates April 2027 will increase the tax paid by individuals receiving rental income directly. From 6...
Business Asset Disposal Relief used to be known as Entrepreneurs’ Relief before 6 April 2020. The relief was renamed in...
Electric vehicles (EVs) can offer significant tax advantages for UK limited companies, particularly those purchasing company cars or providing electric...
A small business spends £2,000 on Google Ads, social media campaigns and printed promotional materials. When preparing its tax return,...
The VAT threshold for UK businesses in 2026/27 is £90,000 in taxable turnover over a rolling 12-month period. Businesses must...
The benefits of a tax advisor include legitimate tax savings, improved cash flow, reduced compliance risks and better financial decisions....
Founders’ Relief is a proposed new capital gains tax relief for founders and significant early investors in high-growth UK companies....
Business rates relief 2027 raises the small business rates relief threshold to £18,000 of rateable value for retail, hospitality and...
Making Tax Digital (MTD) is a UK government plan to make tax simpler. It’s all about using digital tools to...
The events and entertainment industry is fast-paced, diverse, and financially complex. From music festivals to trade shows and celebrity agencies...
