It feels like I’m paying more than my fair share in taxes…
There’s nothing worse – you’ve just put in another year of blood, sweat and tears, you’ve paid your bills and paid your employees wages only to find that someone else now wants a big chunk of your hard earned money… and that ‘someone’ is the tax man! Of course, you don’t mind paying your way and contributing to society but you’re fed up reading in the newspapers about the mega rich and their tiny tax bills whilst you seem to be shouldering more than your fair share of the burden.
The good news is that the taxman is more than happy for you to arrange your affairs in a way that means you pay less than the headline tax rate that applies to the level of your personal income, any capital gains you make from the sale of assets or the profits you retain in your business.
In fact – read the next few words very carefully – paying the headline rate of tax is completely optional.
Ultimately, the amount of tax you pay is entirely dependent on how familiar you (or your advisors) are with the thousands of rules that make up the tax system.
We make it our job to be VERY familiar with the rules and how they apply specifically to you and your business, which means that you never pay a penny more in tax than you absolutely need to.
So give us a call on 020 3667 5200 to arrange a free initial consultation. During the consultation you’ll discover if you are:
- Taking advantage of the many completely legal and ‘above board’ ways there are to tax efficiently take the profits out of your business.
- Due a tax refund – sometimes it’s even possible to go back and reclaim tax that has already been paid if you have overlooked a tax saving strategy in the past.
- Using the most effective structure for running your business today so that when you come to sell your business you get to keep as much money as possible.
I’m working hard but my business isn’t making me enough money…
“You work 16 hours and what do you get, another day older and deeper in debt…”
…I don’t know if you are familiar with that song or not (there’s a small prize if you email the name of the song and the original artist – clue: it’s an oldie!), but if you are familiar with the sentiment then maybe we should be talking. We’ve cast our eyes over hundreds of different businesses over the years and seen first hand how talented entrepreneurs turn everyday, hard to run, marginally profitable businesses into cash generating machines.
These entrepreneurs often sell the same products or services as their competitors but they’ve figured out how to generate a much bigger return from their efforts whilst putting in far fewer hours and experiencing a lot less stress.
You could transform your experience of being in business, if you did what they did. Well we know what they do – we’ve seen the strategies, systems, policies and procedures they employ – and we can share these insights with you.
If you want to fast track your way to a more profitable, enjoyable and ultimately more valuable business then give us a call on 020 3667 5200 and we’ll show you the way!
I’m/my people are bogged down with ‘administration’ and never seem to have enough time to do the really important work that makes money…
As a business grows so does the amount of time that you have to put into non-revenue generating activities – that’s work that absolutely needs doing, costs money to do but doesn’t actually generate any revenue.
Successful business owners know that it’s important to minimise the amount of this type of work that needs to be done and wherever possible ensure that revenue generating employees are relieved of these activities.
A growing business can quickly become over resourced or unable to afford the right level of experience for their needs if they try to directly employ people for these roles, which is why it is often better for this type of work to be outsourced.
Outsourcing can apply to anything from telemarketing to IT services and particularly applies to things like book keeping, payroll and the preparation of VAT returns, all of which definitely need doing, cost money to do but generate zero revenue.
We can support you here by taking on these ‘financial jobs’ and ultimately probably do it at a lower cost than you could do it for internally.
That’s because we can almost certainly do the work faster than you could do it yourself, are resourced to never miss a deadline and our highly trained staff have the technical ability to deliver the kind of accurate, mistake free work that doesn’t cost you money!
Give us a call on 020 3667 5200 to discuss your requirements and get a free quotation.
I’m thinking about starting my own business and I don’t know how to go about doing it…
Right now we can only guess at why you want to start your own business.
Maybe it’s because you are fed up sitting on the side lines watching someone you know who is running their own business and ‘raking it in’ (… even though you have more talent and ability than them!)
Perhaps you’ve watched one too many episodes of the Dragons' Den TV program and you’ve found yourself muttering “I could do better than that” just once too often (and now someone’s called your bluff!)
Or maybe you are one of those people doing a job you don’t like, for someone you don’t respect, for a wage you can’t afford to live on… and you’ve just decided that enough is enough.
Whatever the case, congratulations on your decision to start your own business, this could be the making of you… IF you get it right.
But, you should also proceed with great caution right now because if you get it wrong then the emotional and financial consequences can take many, many years to recover from and sadly some people never manage to bounce back from business failure.
The reality is, statistics show that the majority of new businesses do fail. BUT most of them needn’t have.
Unfortunately many businesses are doomed to failure before they even start because the entrepreneurs behind them were blinded by their own enthusiasm.
You could dramatically improve your chances of success by running your ideas past someone who has been there before. And we have. Dozens of times in fact as we’ve helped people just like you get their businesses off the ground.
We can help you with all of the standard stuff like forming a company, opening a bank account, registering for VAT etc. And that will certainly make your life easier.
But we can be of even greater assistance and even more value to you by acting as a sounding board, showing you how to test your assumptions, helping you to create a realistic plan and giving you the kind of unbiased, objective, independent view point that could keep you out of trouble.
So, if you are thinking about starting a business and want to give yourself the best possible chance of success give us a call on 020 3667 5200 to discuss your plans, earlier rather than later.
Things aren’t working out – my business is in trouble and I don’t know what to do next…
If you are reading this, then you’ve probably been worrying about your business for quite some time now. How do we know that? Because from our experience, business people almost always think (or should that be hope!) that things will get better, long after there’s actually any chance that they will… without that is, some form of radical new type of plan being put in place. The natural optimism that is absolutely essential for an entrepreneur to be able to get a business up and running can now be actually very detrimental to survival.
The stress of managing a business in troubled times can cloud your judgement and lead to poor decision making at a time when clarity of thought and accurate decision making are absolutely critical.
So, what exactly should you be thinking about right now and precisely what decisions should you be making? We’ve a great deal of experience in turning around businesses and we can give you fast accurate advice, help you evaluate your options and create an action plan that will give you the greatest chance of successfully reversing the situation.
But please, don’t leave it even one more day before you pick up the phone and arrange a free initial meeting to talk about your situation because one day it will be just that one day too late to turn things around.
Our phone number is 020 3667 5200 – call us today.
I need to raise some finance but I don’t know where to go or how to do it…
Sometimes, to move your business forward you have to use OPM – that’s Other Peoples Money. Borrowing money for the right reasons AND in the right way can be very beneficial, enabling a business to take advantage of short term trading opportunities or to finance growth and realise potential quicker.
However, even when everything stacks up on paper and you are absolutely certain that it’s the right thing to do, borrowing money or seeking an investor can still be a worrying prospect and the process of doing it quite daunting.
You may have even come to the conclusion that it’s not even worth trying to raise finance at the moment because few people are interested in lending or investing and those that are will want you to jump through far too many time consuming and/or expensive hoops to qualify.
Whilst it’s true that it IS more difficult now than it’s possibly ever been to borrow money or secure an investment, it is still possible IF you have a solid proposition, a ‘water tight’ presentation and you know who to make your presentation to.
The fact is, nowadays you do have to compete for money. The banks are picky about who they will lend to and investors are choosy about who they will back.
Over the years we’ve helped businesses raise millions of pounds and we’ve used just about every finance raising option in the book to do it.
You can tap into our experience and more importantly the credibility that we’ve established with lending institutions and investors who, based on our track record, know that propositions supported by Nicholas Peters are always a good bet!
So, if you’re thinking of raising finance then give us a call on 020 3667 5200 to arrange a free initial consultation – our advice could save you a great deal of time and enable you to safely borrow the money you need on the most favourable terms.
My business is profitable but I never seem to have any money…
Does this sound familiar; your end of year accounts ‘say’ you made a profit… but you just don’t seem to be able to put your hands on the money!
WARNING: the filing cabinets of insolvency practitioners are overflowing with businesses that were profitable but for one reason or another couldn’t put their hands on the money when it was needed.
Maybe you are familiar with the saying: ‘turnover is vanity, profit is sanity BUT cash flow is reality‘? Another version is ‘turnover is vanity, profit is sanity but cash is king‘.
Choose the one you like most, grab a marker pen, write it as big as you can on a piece of A4 paper and stick it up on the wall where you will not be able to avoid looking at it at least 100 times a day!
Particularly in these turbulent economic times you must put cash flow right on top of your list of daily priorities.
That ugly hand written notice is a start but you should also create systems that provide you with accurate up to date information, give you advanced warning of problems and ultimately enable you to get your cash in quicker.
We can help you create these systems, prepare monthly management accounts, cash flow forecasts and even help you put a process in place that gets your customers to willingly pay you quicker (backed up by friendly but firm techniques to chase the money when they don’t!).
These systems, processes and techniques will not only ensure that you can get your hands on your money in a timely way but will also enable you to confidently grow your business by knowing exactly what impact your decisions will make on your cash flow.
You will never be in complete control of your business until you get in control of your cash. Take control – we can help you – to discuss how call us on 020 3667 5200 and arrange a free meeting.
I’d like to sell my business but I don’t know how much to ask for it or how to go about selling it…
Success in business rarely comes easy. For you to get to where you are today you may have had to make many sacrifices along the way, take some comfort zone stretching risks, done the work of two average everyday people at times… and after all of that, found yourself standing at the back of the queue for wages!
But now it’s time for the big pay day – you’re going to sell your business and finally reap the rewards for all of that sacrifice, risk taking and hard work.
The only thing standing between you and your pot of gold is a hard nosed buyer who doesn’t want to pay a penny more than they have to for your business and the tax man who wants his final pound of flesh.
Finding the right buyer for your business, negotiating the best possible price AND then figuring out how to keep as much of the profit as possible can be a tricky move to pull off.
There are so many things to consider and ‘cashing out’ is often more difficult and far more complicated than people imagined it would be.
Small fortunes have been made or lost at this critical stage of the entrepreneurial game.
That’s why the whole process needs to be managed very carefully to ensure that mistakes aren’t made. Your decision making needs to be razor sharp, as does your negotiating ability if you are to come out on top.
Here, possibly more than at any other time in your business building career, professional advice, support and insight can be essential and bring you a huge return on investment.
We are very used to working alongside our clients at this important time and can bring a great deal of practical experience to the table, enabling you to dispose of your business with the absolute certainty that you got the very best possible deal.
If you are thinking about selling your business give us a call on 020 3667 5200 to find out how we would help you through the process, profitably!