The Importance of Credit Reports in Business Acqusistion
When most people start looking at buying a business, they focus on the obvious things. Turnover, profit, client numbers, growth potential. All important, but also all very easy to dress up. What often gets missed at the early stages is one of the simplest and most revealing documents you can get your hands on: the […]
The One Question Every Business Buyer Should Ask, and Why It Matters More Than You Think
If you’re buying a business, there’s a question you should be asking the seller early on, and frankly, most buyers don’t. It’s simple, almost innocent on the surface, but it tells you more about the deal than half the due diligence pack ever will. That question is: when did you start planning to sell? Most […]
Valuation 101: Enterprise Value Plus Balance Sheet Reality
When you’re looking to buy a business, the big question is always the same: what is it worth? Ask ten people and you’ll get ten answers. A seller will tell you what they need. A broker will tell you what sounds good. Friends and colleagues will throw out numbers they’ve seen in the press. None […]
Don’t Let Brokers or Sellers Set Your Valuation
When you’re looking to buy a business, one of the first and most pressing questions you’ll ask is: what’s it worth? It sounds simple, but the answer is often distorted before you’ve even opened a set of accounts. Why? Because two voices dominate early-stage conversations—the broker and the seller. Both will happily give you a […]
Bounce back loans – where are we now?
The bounce back loans, CBILS and CLBILS for larger companies were some of the most generous schemes available to businesses suffering from the impact of lockdowns due to the Covid-19 pandemic, paying out a total of £80 billion to help keep businesses afloat. The Bounce Back Loan Scheme was the largest of these, paying out […]
Get ready for the plastic packaging tax
Get ready for the plastic packaging tax The plastic packaging tax is a new tax which is being introduced from 1 April 2022. The tax aims to provide a financial incentive to use recycled plastic in plastic packaging, which in turn will boost recycling and divert plastic away from landfill. You may have to pay […]
Back to the office
Now that the ‘work from home if you can’ guidance has been lifted, employees are returning to the office. If, following their return, you allow employees to keep their homeworking equipment for personal use, there may be tax consequences to consider. Employer-provided equipment If you provided homeworking equipment to your employees to enable them to […]
NMW reminder for summer staff
If you take on temporary staff over the summer, you will need to pay them at least the National Living or Minimum Wage appropriate to their age. Workers aged 23 and over Workers aged 23 and over are entitled to be paid at least the National Living Wage (NLW). This is set at £8.91 per […]
6 Stages to your business journey
OnPoint Accounting has long believed that there’s six key stages to businesses growth and the OnPoint Accounting Group have embraced that theory. In this blog we look at the opportunity and risks of each stage and which members of the OnPoint Accounting Group are best suited to serve you at each stage of business growth. 1. […]
Top 20 most popular questions from small businesses in 2020
At OnPoint Accounting, we aim to keep our clients informed throughout the year and make sure they have all their business questions answered. In this blog post, we gather the most-asked questions from small businesses in 2020. It has been a challenging year for all companies, big and small. However, as much and as fast as […]