Recent content by Richard Dastardly

  1. Richard Dastardly

    Employee mobile phone use

    Indeed that was my experience. I did get better at hiring as time went on, but in reality you just couldn't tell for about the first 3 months. But I was really good at firing people quickly when it was clear they weren't up to it, which stood me in good stead ☺️
  2. Richard Dastardly

    Employee mobile phone use

    Not sure if in the thread you have said what the line of business is? Maybe I missed it. But that is significant. For instance a sales company vs a coffee shop is a big difference between mobile phone use. My business was a PR agency, and the life of the agency went through the rise of basic...
  3. Richard Dastardly

    Small claims dispute

    Any debt I had over £1k I used to get a doorstep collections company on it. Direct Collections was the one I used. See if they don't pay it then when they walk into their shop. 9/10 times they collected it.
  4. Richard Dastardly

    Do I leave out drawings on Sole Trader self assessment?

    Yes I see what you mean here. And unfortunately the answer is yes, you will pay tax ‘twice’. Once on the ltd company business side as corporation tax; and then when you take it out of the company you will pay personal tax on the already taxed business money. I couldn’t believe that myself many...
  5. Richard Dastardly

    Frustrated at banks still misleading directors over BBL liability!

    Had this when my company went under with a BBL. Santander wrote to me personally, no mention of the company name, and threatened adverse credit rating. I phoned them up and said 'I'm not personally liable' and the woman said 'yes, just ignore the letter it's part of their process'. I suppose the...
  6. Richard Dastardly

    Liquidating with ODLA caused by BBL

    This. I used to pay myself a monthly amount and my accountant said that if HMRC saw it they would say it was salary, not dividend, and make us pay PAYE on it. Fortunately it never happened. If you are paying yourself monthly then it's a salary because you do not know if there is any profit...
  7. Richard Dastardly

    Dissolving a company - advice appreciated

    Oh and by the way, if you are going to go down the professional liquidation route then make sure you have a contract of employment for yourself before you do it - if you are paying yourself a director's salary in particular. Include holiday pay in it. Then you can claim redundancy from the...
  8. Richard Dastardly

    Dissolving a company - advice appreciated

    Regarding the trademarks, if they aren't the Ltd company name, then who is going to know about them unless you tell them? Just change the ownership at IPO
  9. Richard Dastardly

    Employee Problem - What Would You Do?

    On reflection regarding my comment above; I think there's 2 distinct issues - stealing for himself, and giving stuff away for free to people he doesn't even know. For me I think giving stuff away for free is much worse because he is showing contempt for the business - he basically doesn't care...
  10. Richard Dastardly

    Employee Problem - What Would You Do?

    It needs to be addressed in some way, even if it's indirectly. These things escalate if not addressed and people steal more. Most people steal from their employer - it's just a fact of life, so I would tolerate it to some degree when I had my own business - because I knew I had done similar to...
  11. Richard Dastardly

    Resigning as a director

    I mean there's a lot of factors - what's the bank balance, what's the relationships like, is it a fintech unicorn, what are the hidden assets, are they gangsters etc :) but the starting point is at least £38k becuase that's what the accounts show - and go from there
  12. Richard Dastardly

    Resigning as a director

    If you're 'owed' £38k then I'm assuming this is your equity in the business according to what the statutory accounts say. So if you want out, then that's a starting point..?
  13. Richard Dastardly

    Accounting for grants as a charity

    This is a question for your accountant. When we received a grant we didn’t invoice and it is listed in the accounts as a grant. When it came in close to year end, the accountants can split it over the subsequent year if only a portion of the grant is to be spent in the current year.
  14. Richard Dastardly

    How to handle this situation with staff manager

    You have to fire him / her in as nice as diplomatic way you can. My best mate, when I was younger, went to work for his dad who had a very successful IT recruitment company at the time - we’re talking the late 80’s and £millions. He was so bad his dad sacked him and told him to go and work for...
  15. Richard Dastardly

    Investment ideas

    I haven't, but that's because my business has downsized somewhat and I don't hold much reserves anymore, so what I do hold in the business I want in cash because of my overall finanical picture is heavy on stocks already. But if I had a lot of business reserves on hand that I wanted to do...
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