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Business Owners should act now to benefit from vital tax relief

Business Owners should act now to benefit from vital tax relief Verdict Staff February 16, 2021 (Last Updated February 16th, 2021 15:04) Share Article Whether you have been planning to close down your company or fear that as a result of the pandemic that your company may fail in the months to come, then now is the time to act before it’s too late, comments Nick Nicholson, Insolvency Partner at Haslers The specialist insolvency and recovery team at Haslers is calling on directors and shareholders of companies stuck with difficult decisions about their future to think about the tax implications of winding up.

Business Owners should act now to benefit from vital tax relief - International Accounting Bulletin

Business Owners should act now to benefit from vital tax relief Verdict Staff February 16, 2021 (Last Updated February 16th, 2021 15:04) Share Article Whether you have been planning to close down your company or fear that as a result of the pandemic that your company may fail in the months to come, then now is the time to act before it’s too late, comments Nick Nicholson, Insolvency Partner at Haslers The specialist insolvency and recovery team at Haslers is calling on directors and shareholders of companies stuck with difficult decisions about their future to think about the tax implications of winding up.

When debts become doubtful

WHILST many businesses and sectors have been affected by the turmoil caused by the Covid-19 pandemic, it is fair to say that some business owners have seen less of an impact on their top line. But with the economy now in recession and uncertainty set to continue for months, being aware of potential weak links for your business will stand in you good stead, writes Daryl Warwick of Armstrong Watson. Are all of your outstanding debts collectable? There are many examples of businesses that have collapsed when a business owing them money have collapsed, resulting in an unexpected cash hole in the cash flow forecast. This is likely to become more prevalent as we enter 2021, with unemployment continuing to rise and the UK’s GDP expected to be adversely impacted by the ongoing uncertainty around Brexit.Where businesses use an invoice finance facility, their lenders will be aware of potential bad debts, but if you don’t use such a facility, you should still ensure that you have ro

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