Barnett & Turner Accountants Ltd | Business Financing
Chartered Accountants & Chartered Tax Advisers based in Mansfield, Nottinghamshire
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Business Financing

12 Sep Are you active or passive?

Jonathan Wilson of Barnett & Turner explains two fundamentally different approaches to fund management The world of investment funds can often seem confusing, but a few simple pointers can give you a head start. Perhaps the most important issue you need to take into account is whether any fund is ‘active’ or ‘passive’. An actively managed fund is run by a fund manager or investment team. These professionals are responsible for all of the fund’s investment decisions, including when to buy or sell assets. Passive funds are often run by computer software, which tracks or replicates a market or index and includes tracker...

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19 Apr Too much capital? Your company may have more options than you thought.

For some years now, it’s been possible to reduce the capital in your company without going to court. More owners could probably take advantage of the freedom on offer, argues chartered accountant, Jonathan Wilson of Barnett & Turner. For many years, one of the fundamental concepts in company law was the notion that issued share capital had to be maintained and couldn’t be returned. In fact, this was generally accepted for more than a century until the Companies Act of 2006 made it to the statute book. Over the best part of a decade now, private companies have no longer had to...

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01 Dec Could growth vouchers eventually grow on business?

Jonathan Wilson from accountancy firm Barnett & Turner reviews the recent growth voucher programme and wonders what lessons we can learn from its apparent lack of success. Back in January 2014, the government launched a ‘growth voucher’ scheme aimed at supporting small businesses. It was designed to help SMEs gain access to technical and financial advice and offered £2,000 if companies were to match the funding with their own cash. The idea was that small firms and start-ups would benefit from financial advice, assistance with business planning and marketing consultancy. Just the kind of boost that would allow them to take the...

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18 Aug A holding company? There may be no reason to hold back.

If you thought the formation of a corporate group structure was just for big multinationals, it’s time to think again, suggests David Wilson of accountancy firm Barnett & Turner. It’s a serious option for much smaller businesses too. When a limited company has built up a significant amount of wealth on its balance sheet – perhaps three quarters of a million pounds or more – and it has a large value of fixed assets, the option of creating a holding company becomes something worth exploring. Although the formation of a ‘group’ is something you’d more normally associate with large, blue-chip corporations, there’s...

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28 Jul Banking on the right decision

Jono Wilson of Barnett & Turner argues that you need heavy-hitters on your side when you approach a bank with a view to getting finance for investment. When a client needs to persuade a bank to make a substantial investment in their business, I always recommend that they get their professional advisers involved at the earliest possible stage. Unless you have your accountant on board and get some support in presenting your case, there’s a danger you may end up shooting yourself in the foot. Banks can be notoriously difficult to impress and can fall back on a tick-box mentality when it...

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12 May Don’t let customer debt get you down

You've identified a potential bad debt. You've sent the friendly reminder, the follow up letter seven days later. You've then phoned two or three times and sent a final notice. Still no joy. Where does it go from here? It’s a familiar scenario for lots of business people. What seems like a slightly overdue payment is starting to turn into a troublesome debt. You don't particularly want to start formal legal proceedings, as they've been a customer for some years but you're getting increasingly frustrated. The phone rings. It’s the customer telling you about their cash flow problems. Things will apparently be...

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06 Oct There’s great value to a proper valuation

Although valuation isn’t always an exact science, writes Barnett & Turner’s Jono Wilson, it can be an essential part of your long-term business planning. In my experience, clients can have any number of reasons to look for a valuation of their business. Sometimes it can be a personal matter – they’re going through a divorce, for instance, and need help with litigation. On the other hand, they may be thinking about changing the ownership or structure. We may, of course, need to value a business after death. And then there’s perhaps the most obvious reason of all: a valuation with a...

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23 Jun There’s a downside to every upturn, which is why it pays to think ahead.

After a turbulent few years, there are now plenty of signs of recovery in the British economy. Inflation and unemployment are falling and business confidence has picked up markedly. In theory, this paints a rosy picture for small and medium-sized enterprises, but the reality may be rather more complex. In fact, there can be a number of hidden dangers at the start of any upturn. And it’s only by working closely with your professional advisers that you can be sure of avoiding the pitfalls. The first and perhaps most obvious thing to say is that many businesses have stretched themselves to...

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09 Jun When assets need replacing, there’s no need to sweat.

In many businesses, the key asset might be the knowledge and experience of the staff or possibly a valuable piece of intellectual property. Other companies, however, depend heavily on very specific capital assets. The presses used by a printer, for instance. The limousines of a wedding-hire firm. Or perhaps the fixtures and fittings of a gym. But what happens when these vital pieces of equipment or property start to deteriorate? The investment required to replace them can often seem daunting to a small or medium-sized business, particularly if they are already trying to manage existing financial repayments. One option is to replace...

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