Entries by petewild

Pay no tax when you sell your company… EOT

Most owners get Entrepreneurs Relief and so only pay 10% on the Capital Gain when they sell their business…  many are not aware there’s a 0% tax option… Transfer controlling interest to an Employee Ownership Trust (i.e. sell the business to the employees) and you pay no CGT (and no Income Tax and no IHT) […]

Gifting Shares… if you’ve got to…

So you want to give some of your shares to staff or family members?… it may trigger a Capital Gain Tax bill for you, and an Income Tax bill for them… even if no money has changed hands… so some care is needed Gifting Shares to Employees Don’t do it… simple as that… if you […]

BS Shareholder schemes

CSOP … SAYE … SIP … schemes to get shares into the hands of staff … to be avoided … because there are simply better ways to do it… If you really need to know why … SIP and SAYE must be offered to all employees on similar terms … yeah right CSOP (the Company […]

Amortisation

The depreciation of an intangible asset CHECK..what can be can capitalised… R&D complications Takeaway … change your policy … ID all costs that could be classed as intangible … stick them in the balance sheet and boost your EBITDA The basic idea … you put the cost of intangible assets in your balance sheet … […]

Patent Box… videos and links

I did a full post on Patent Box a while back… but I thought I’d throw in a couple of videos we did on it a few years ago… This first video has poor sound quality, clunky jump-cuts and is a no frills interview with a cracking Patent Attorney… Tom Hutchinson of HutchinsonIP This second […]

A Wild Way to look at Wealth Management

Owners of businesses are special in a ton of ways… and they need advisors who recognise that reality… but when it comes to Wealth Management it just doesn’t happen… Too many wealth/financial planning guys see you as walking pension pots…  maybe they’ll sort you Key Person Cover, and maybe encourage you to get a shareholder agreement in […]

Your Competitor’s Turnover… how to calculate it

Filing abbreviated accounts at Companies House means people don’t know what your Turnover is… or do they? Old accounting lags like me and credit agencies have their own ways to estimate a company’s Turnover from just a Balance Sheet… here are a few… and they can be surprisingly accurate Estimating Turnover from Debtor Days Debtor […]

LPA Lasting Power of Attorney… what it is & why you NEED one

Protecting you guys from yourselves has become a mission of mine since a client’s world fell apart when her husband had a disabling heart attack… Terrible for him, his family and the family business… incapacity means legally decisions cannot be made… even by his wife, joint shareholder and driver of the business… without ridiculous, repeated, time-consuming, […]