Recent content by c1223

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    Reducing payments on account

    I'm just finalising my tax return for 2018-19. Obviously I'm due to pay the balancing payment for 18-19 and the first payment for 19-20 by the end of next month. At the end of the 18-19 tax year, my position changed from being self-employed to being a director & shareholder of a business. As...
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    Buying into a company: Do you account for future salary in a valuation?

    Thanks - articles of association and shareholders agreement are already drawn up.
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    Buying into a company: Do you account for future salary in a valuation?

    I'm in the process of buying into a LTD company. I've written a similar thread previously (cannot post links, but can be searched for). I realise there are no absolute rules about any of this, however some advice on this situation would be appreciated. The business is run by one person and has...
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    Tax differences with asset vs expense

    I'm currently trying to work my way through valuing a company. Before I enlist some professional help, I'm just trying to work through the accounts from the last few years. One thing that the owner said to me is that equipment that costs the company less than ~£500 goes down as an expense on...
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    Small business valuation cost

    I'm looking to buy a 40% share in the business. The owner has provided me with their valuation, so I just want to get it checked over. To be clear, as I wasn't in my first post, their valuation is based on: Net assets + (pre-tax profit * PE value). So it's book value of the assets. They are...
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    Small business valuation cost

    I'm looking at getting a counter-valuation for a small business that has been running for 4 years. It'll be based on the previous 3-years of accounts. The valuation provided by the business is based on assets + profit x PE value. How much should I expect to be paying an accountancy firm for a...
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    Structuring so as to have different shareholdings with equal dividends

    The working hours will be equal, however the company has been running for a few years so the current owner doesn't want to just "hand over" 50% of the company.
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    Structuring so as to have different shareholdings with equal dividends

    The company currently exists with a sole director who owns 100 ordinary shares. A third party is buying into this company and the deal is going to pan out roughly as follows: Third party initially buys 40% shareholding in the company however is paid 50% dividends After 3-5 years, the third...
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    VAT on sponsorship

    I've read the HMRC VAT notice 701/41 regarding VAT and sponsorship but I'd like some clarification please. I'm on a student committee (unaffiliated with the university) that runs a fundraising event each year. Although we ourselves aren't a charity, all money raised is donated to a designated...
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