Fresh Threads: selling up, employer disputes, and a garden office

  1. Ray Newman

    Ray Newman UKBF Regular Staff Member

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    Hi UKBFers,

    Welcome to Fresh Threads, our weekly roundup of the best comments and advice from the forums. 

    Here are my top picks from this week.

    1) Selling a sole trader business

    Julie Murphy

    I own a small business with a great client base and no assets to sell, and am looking to sell for around £15,000. It has the potential to earn more than it currently does. 

    I would be selling the domain name, website, client details and changing over names on a couple of contracts, eg with the credit company, however when I have spoken to solicitors they don't seem interested and have advised that I don't need a solicitor.

    Has anyone been in a similar position at all that could help?

    Clinton: Businesses with real potential are not for sale, the owners are already exploiting the potential. 

    The Byre: Every person selling a business uses the word potential. It's probably better to describe the room for growth. 

    consultant: Why not employ someone to do the paperwork, let them grow the business and you can continue to benefit from it?

    Keith Green: My experience is that for a small business like yours, an appropriate solicitor would charge anything from several hundred to around £1,500.

    2) Am I screwed or can I get out of this?

    Wantinglegaladvice

    I work for a local college which is launching an investigation into why I won't pass a high-level exam prior to my contractual deadline of January 2020. 

    Being honest, I've been working on launching my own marketing agency and web business and I've got a few local businesses on retainer at what's a good rate. 

    The plan was to keep working while building up a client base and so I could cover any business expenses. Do I just cut my losses now and resign? The breach of contract won't happen until January when I haven't passed by then, not October. 

    intheTRADE: Have you known from the moment you started employment that the basis of it being made permanent was passing this exam?

    Darren_Ssc: What have you to lose by waiting to see what happens? You're not going to pass the exam and are seriously thinking of quitting anyway? The college may not fire you and even if they do it means you get a wage coming in for a few more weeks and, maybe, something more?

    Mr D: Starting investigation now they can get rid of you before January, presumably they have also noticed your work performance. 

    MBE2017: The answer is probably your start date, just under two years ago, so in two weeks' time they can sack you without any comeback if they choose to.

    3) External office built on home premises

    NEF

    If I built an office in my garden for business-related and office activities, how would this impact me if I sell my property?

    Are there any requirements to look into for this, as it will always be classed as owned by the business or as a business asset?

    SteLacca: Yes, there is possible liability to business rates, and a possible loss of private residence relief for capital gains tax purposes.

    kulture: There is nothing stopping you having a shed in your garden in which you occasionally use for office work and sometimes use for recreation.Clearly this would not include a space where customers come on a regular basis.

    estwig: It won't be owned by the business, that's too complicated mainly for planning and land ownership reasons.

    You own the garden office and your business pays you rent for its use, speak to your bean counter. It will always remain as residential, not commercial usage.

    Chris Ashdown: Far better to be quiet and not annoy the neighbours. Why invite potential trouble when it's easily avoided? Are you really desperate for that extra rent and heating money?

    4) Suspended for gross misconduct

    sean23

    I’m currently suspended for gross misconduct for not following a procedure about working hours. 

    I never received any training on how to use these timecards and face losing my job, which I noticed was advertised online before this investigation broke out. 

    What are my chances of this being thrown out or reinvestigated?

    fisicx: Clocking in usually means using some sort of automated system they registers the time in and out. You seem to be describing a self-monitoring system.

    JeffreyMills:.You need to stick to explaining that you rarely enter the time and you think you made a mistake.

    obscure: What Jeffrey said. Keep it simple, clear and factual.

    CompPropSolicitor: @obscure This is the best advice so far. Pick a legitimate story and stick to it.

    That's all for this week – keep an eye out for the weekly UKBF newsletter on Friday.

    #0
  2. Furqan721

    Furqan721 UKBF Contributor Free Member

    54 4
    Thank You for sharing this stuff!
     
    Posted: May 16, 2018 By: Furqan721 Member since: Feb 26, 2018
    #2
    Chris The Dropshipper likes this.