During the Global Health Crisis, we realise that the difficult job of running a business just got harder and we'd like to help.
We have listed a range of services that we can offer during the Covid 19 pandemic to try to share the burden. Please contact us to find out more or have a no obligation, no charge call.
The headline change proposed by the OTS is to equalise the rate of Capital Gains Tax with that of Income Tax, which would amount to a significant rise from the current rates. There are 11 recommendations made by the OTS' comprehensive review and a second report due early in the new year, will look at the practical realities of making changes. Ironically the capital gains tax take was the highest ever in 2018/2019 and many believe that when tax rates increase, then more people look to avoid paying it and the overall tax take is lower....
My general thoughts would be:-
1. Get your CVBILS or BBBLS in place whether you think you need it or not.
2. Start your ‘back to business’ plan, because it’s going to happen soon.
3. Keep engaged with your staff so that they don’t forget who you are.
4. Start talking to staff about the return to work plan.
5. Select key customers, talk about how you can support their return to work.
6. Decide on changes to be made to make work Covid compliant.
7. Start searching now for adequate supplies of hand sanitiser etc.
8. Source PPE where necessary
(contact Fairmountain for PPE, as we have a very reliable supplier).
9. Think about your business model, is it time to re-engineer the business?
10. If you want to talk about keeping control of your SME business but working with a larger group to increase profits, talk to us at Fairmountain.
We can help with cross working synergies, investment, restructuring, refinancing, sales or cost improvements, mergers or management buy outs.
11. Stay safe, positive and focussed!
We can provide you advice and information free of charge via a phone call or video conference call. We can confidentially talk through options and strategies to help at this challenging time.
We can send you free of charge regular updates and bulletins as things develop, so that you are always in touch with the latest developments from reliable sources.
We can help you prepare your management information to access lending with your main bankers, or use our panel of professional lenders to provide you with cashflow loans if needed.
We are still considering all viable businesses for new equity investment or financed investment, please speak to us for more detail.
Now maybe the time to consider selling the business and realising value that you've built up. There are still sensible business sale options available despite the current crisis.
We are being approached regularly by businesses that see the value in merging or acquiring companies in the same sector as them. Now could be a good time to look at the possibility of joining forces with complimentary businesses.