Recent content by Calum_H

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    Web host - what are asp scripts?

    Thanks for the responses. The actual main website of the business is still up and running but, for whatever reason, when you wanted to buy the products online it took you to another website where you could shop. This is still up but you can no longer buy the products. It may be easier to...
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    Web host - what are asp scripts?

    Hi folks A technical question here regarding a suitable web host. I am in the process of finalising the purchase of retail business which also has two web addresses, one for business and one for sales, which are included in the sale. I assumed it would be a case of just taking the host and...
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    Is this a resonable quote for accountancy and taxation services?

    I'm starting to think this may be a sensible way to do this, thanks for your input.
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    Is this a resonable quote for accountancy and taxation services?

    Yes I agree that it is probably worth paying for it but obviously I don't want to over pay for this service.
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    Is this a resonable quote for accountancy and taxation services?

    So if the consensus is that it's a lot what do other people pay? A little detail on the business: We manufacture our own luxury organic handmade chocolates and retail these in two of our own stores - this counts for about 80% of our turnover. The rest of our business is made up of...
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    Is this a resonable quote for accountancy and taxation services?

    Thanks for the responses. Here is a little more detail: Quote for accountancy and taxation services The below includes fee scenarios where we do the monthly book keeping for the business and where we do not. Monthly book keeping and quarterly VAT returns We will maintain the books and...
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    Is this a resonable quote for accountancy and taxation services?

    Hi folks I am about to take over a small business with a turnover in the region of £250k with three premises and about 10 staff, most of which are part time. I have been given the quote below for ongoing accounting for the business and wanted to hear other small business owners thoughts on...
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    Legal fees for having employee contracts written up?

    Yes this is the same solicitor firm I'm using for the purchase. They are a large firm so I'm dealing with an employment solicitor. I take your point about the fixed fee.
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    Legal fees for having employee contracts written up?

    Hi I am in the final stages of buying and existing business with 11 Staff: 1 x skilled employee (full time, contracted) 1 x skilled employee (part time, no contract) 1 x manager (f/t, currently on maternity leave, contracted) 1 x manager (p/t, currently covering maternity leave, no...
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    Commercial lease assignation. Deposit + Premium + 6 months upfront

    Hi, I am buying a business that has has a lease that will be assigned to me from the current tenant. Current deal: Lease 10 years + 5 (2013 is year 9) Rent: £8k per annum Rent paid biannually in advance Deposit: £3k (held for 3 years) I have had a meeting with the landlord who I...
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    Lease premium to landlord when assignation of lease from current tenant.

    Hi I am in the process of buying a business in which there is a lease that has to be assigned to me from the current tenant. I have spoke with the current landlord and he has said that he is looking for a lease premium to be paid to him, is this normal? I am aware that this would be the case...
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    Tax implications for business loan.

    Think i've got it. Thanks!!
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    Tax implications for business loan.

    Ok I am clearly not grasping this! Basically how does a business loan effect the amount of corporation tax i will have to pay? Example the business I am looking at buying: It makes £60k (adjusted net, before tax) How is my loan treated and paid? Thanks.
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    Tax implications for business loan.

    Thanks for that. Right just to get this into my head is the following example correct: Business loan- £100k at 5% pa over 1 year Deductible before tax Loan interest £5k equals Earnings before tax then pay Corporation Tax at 20% equals Earnings after tax then pay £100k loan...
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    Tax implications for business loan.

    Hi, Could someone advise me how tax is calculated in the following circumstances: If I take a loan from family to buy an existing business what are the tax implications for the business? Would the loan be paid back before or after corporation tax has been applied? Thanks Calum
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