Recent content by Mike MD

  1. M

    Tender Process, Showing accounts

    Good luck. As others have said, you have a large number of eggs in one basket. It is firstly a lot to do with who has the power in this negotiation. The fact that they are prepared to upset the apple cart by doing a formal process rather than directly negotiating with you suggests to me...
  2. M

    Advice for a new pub business please!

    Just realised that I have replied to a 4 month old thread! Sorry, hope everything has gone amazingly!
  3. M

    Advice for a new pub business please!

    I wouldn't do anything without negotiating what the new lease will be. Say you put heart and soul into this for 8 months, make a right go of it, and the landlord then whacks a massive increase in the rent on. You leave, someone comes in and takes on a newly thriving business.
  4. M

    Unofficial UKBF Manifesto For SMEs

    I'd say the biggest thing needed is to simplify complying with everything. So a one stop shop training businesses on correctly paying living wage, holiday pay, and what does and doesn't count as working time. A kind of compulsory 30 minute training video so people who employ get it right first...
  5. M

    What businesses can/should i start with 10k?

    You mention car detailing. Not a bad plan - low cost to get into, although insurance costs need to be factored in in case you damage anything. Big thing though, set your prices as if you were paying someone to do it for you - plus a profit on top. Check what the competition are charging, and...
  6. M

    Does a Company Director Need to Justify a Company Car?

    Yes, that is correct. It's due 6 July after the end of the tax year. It is calculated at 13.8% of the Benefit in Kind value - so in the above example, that would be £138 in a full year. It is worth either asking an accountant as they can take all your circumstances into account, or really...
  7. M

    Does a Company Director Need to Justify a Company Car?

    No - you don't need to justify having a business lease for a company car. As there is private use, you will have to pay tax on it as a "benefit in kind". This BIK is currently 2% of brand new list price of the car until 2025 (not what you paid for the car). So if the car was £50,000 new, then...
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