Recent content by Tom Volpe

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    Not drawing wages gone through Payroll

    Again I'm not an accountant, but if an accountant agrees that paying them and then separately borrowing the money from them reduces CT, I would imagine that the business would need the cash to do that. I believe HMRC can be a bit funny about cash yo-yoing about too, if you are taking the same...
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    Not drawing wages gone through Payroll

    Im assuming (perhaps wrongly, Im not an accountant) that if money changes hands you would remove the CT liability. If they are family members and you can trust them, could you just pay them and then let them lend the money to the business in a separate transaction?
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    Wordpress updates "maintainence fee"

    I agree with comments here that this has been badly handled by the service provider - assuming you were not made aware of these costs until after you had been contracted for other services. I also agree that you can learn to maintain your site yourself - indeed anyone can learn any skill...
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    How do I find a good website designer?

    You absolutely should be looking for developers with a strong portfolio - and I do think it is important that you like their design work. Something that is critical though - I believe - is you want to be focussing on agencies that give more than JUST a pretty picture. Ask questions about ROI...
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    Not drawing wages gone through Payroll

    Good shout from Cindy on getting formal advice. If I'm ever going to do something even slightly out of the ordinary I run it by my accountant. If family members want to work for the business, and then loan their wages back I can't see any issue there. Surely it can be reflected on the balance...
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    Not drawing wages gone through Payroll

    If you aren't actually paying them, is there any benefit to processing the payroll? I'd be inclined to process no more than the national insurance allowance to avoid creating a tax liability?
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    UK SME investor and business turnaround specialist. Particular interest in digital and...

    UK SME investor and business turnaround specialist. Particular interest in digital and recruitment, as well as distressed (any sector)
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    Can/will the UK Govt. bail out companies?

    There is no way that the UK government is going to keep every business damaged by coronavirus alive. The example of the wedding photographer from the op is obviously an unmitigated disaster, but for many businesses I think there is likely to be a lot of help from an understanding HMRC (from...
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