55.financial

5 questions you can answer in less than a minute Are you ... ... a small business owner? ... concerned about missing out on tax reliefs your business is entitled to? ... unable to access the management information you need to really understand how your business is performing? ... sometimes overwhelmed by your business bookkeeping, payroll, tax compliance and accounts? ... not enjoying running a business as much as you'd like to? If the answer is yes to any of these questions, we'd be delighted to help so please do get in touch. #TimeSaver #BusinessFinancialManagement #Outsource Inspired by One Minute Briefs

𝐒𝐮𝐜𝐜𝐞𝐬𝐬: 𝐏𝐞𝐨𝐩𝐥𝐞 𝐯𝐬. 𝐏𝐫𝐨𝐜𝐞𝐬𝐬 – 𝐖𝐡𝐚𝐭 𝐑𝐞𝐚𝐥𝐥𝐲 𝐃𝐫𝐢𝐯𝐞𝐬 𝐆𝐫𝐨𝐰𝐭𝐡? I’ve had the good fortune of working with an entrepreneur whose journey I’ve supported over many years, one where the relationship continues, creating lifelong value. Something they said shocked me at first: “I want to be successful despite people.” At first, I disagreed. 𝐏𝐞𝐨𝐩𝐥𝐞 𝐚𝐫𝐞 𝐭𝐡𝐞 𝐡𝐞𝐚𝐫𝐭𝐛𝐞𝐚𝐭 𝐨𝐟 𝐚 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬, 𝐫𝐢𝐠𝐡𝐭? But after reflecting, I saw where they were coming from. Yes, people 𝐦𝐚𝐭𝐭𝐞𝐫, but 𝐰𝐢𝐭𝐡𝐨𝐮𝐭 𝐬𝐲𝐬𝐭𝐞𝐦𝐬 𝐚𝐧𝐝 𝐩𝐫𝐨𝐜𝐞𝐬𝐬𝐞𝐬, even the best team can struggle, impacting time lost, increased costs and heightened risks So, we put in place:  - 𝐄𝐟𝐟𝐢𝐜𝐢𝐞𝐧𝐭 𝐩𝐫𝐨𝐜𝐞𝐬𝐬𝐞𝐬—reducing friction, improving workflows.  - 𝐔𝐩-𝐭𝐨-𝐝𝐚𝐭𝐞 𝐬𝐲𝐬𝐭𝐞𝐦𝐬—providing clarity, speed, and agility.  - 𝐃𝐚𝐭𝐚-𝐝𝐫𝐢𝐯𝐞𝐧 𝐝𝐞𝐜𝐢𝐬𝐢𝐨𝐧-making—ensuring leadership isn’t left guessing. 𝐏𝐞𝐨𝐩𝐥𝐞 𝐜𝐚𝐧 𝐢𝐦𝐩𝐚𝐜𝐭 𝐬𝐮𝐜𝐜𝐞𝐬𝐬, 𝐛𝐮𝐭 𝐢𝐟 𝐲𝐨𝐮 𝐜𝐨𝐦𝐛𝐢𝐧𝐞 𝐬𝐭𝐫𝐨𝐧𝐠 𝐩𝐫𝐨𝐜𝐞𝐬𝐬𝐞𝐬 𝐚𝐧𝐝 𝐬𝐲𝐬𝐭𝐞𝐦𝐬, 𝐭𝐡𝐚𝐭 𝐢𝐬 𝐚𝐦𝐩𝐥𝐢𝐟𝐢𝐞𝐝. It’s not about success despite people—it’s about unlocking their full potential with the right foundations in place. Are your systems helping or holding you back? #𝐄𝐧𝐭𝐫𝐞𝐩𝐫𝐞𝐧𝐞𝐮𝐫𝐬𝐡𝐢𝐩 #𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬𝐒𝐮𝐜𝐜𝐞𝐬𝐬 #𝐒𝐲𝐬𝐭𝐞𝐦𝐬𝐀𝐧𝐝𝐏𝐫𝐨𝐜𝐞𝐬𝐬𝐞𝐬 #𝐋𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 #𝐒𝐜𝐚𝐥𝐚𝐛𝐢𝐥𝐢𝐭𝐲 #𝐄𝐟𝐟𝐢𝐜𝐢𝐞𝐧𝐜𝐲 #𝐆𝐫𝐨𝐰𝐭𝐡𝐌𝐢𝐧𝐝𝐬𝐞𝐭 

𝐓𝐡𝐞 𝐩𝐚𝐭𝐡 𝐥𝐢𝐭 𝐛𝐲 𝐩𝐮𝐫𝐩𝐨𝐬𝐞….. Attending the Engager.app #LABS25 with my brother, a digital innovator passionate about efficiency and exceptional service, I expected to gain insights into the latest tools and systems for running a successful financial management business. What I didn’t expect was to be reminded of the deeper driving force behind it all, purpose, impact, collaboration and community. Nick Entwisle, CFA - One Minute Briefs presented "How to go Viral on Social Media". He presents with 𝐜𝐨𝐮𝐫𝐚𝐠𝐞. He’s 𝐡𝐮𝐦𝐛𝐥𝐞. He shares both 𝐩𝐚𝐢𝐧 𝐚𝐧𝐝 𝐩𝐮𝐫𝐩𝐨𝐬𝐞. Such 𝐭𝐚𝐥𝐞𝐧𝐭. So much 𝐢𝐦𝐩𝐚𝐜𝐭. What an 𝐢𝐧𝐬𝐩𝐢𝐫𝐚𝐭𝐢𝐨𝐧. That 𝐬𝐩𝐚𝐫𝐤. That 𝐜𝐨𝐧𝐧𝐞𝐜𝐭𝐢𝐨𝐧. Exactly the kind of person I want to walk alongside. Then he says— “Now you. Write your one-minute brief. Advertise your service.” I thrive on problem-solving, strategy, empowering others to build sustainable success. Yet, in that moment, I hesitated, because creativity isn’t where I naturally lean. Nick helped me realise that my purpose is to empower talented, humble people to clarify their vision, make a meaningful impact and redefine what success means to them. Nick Entwistle loved meeting you after you presented on stage, you are an absolute inspiration. Engager.app what a brilliant event you put on in Liverpool this week - thank you. One Minute Briefs #LABS25 #SPARK #Inspire

I was in Liverpool today for the Engager.app labs event and heard an inspirational talk by Nick Entwistle of One Minute Briefs. Thanks very much Nick and Johann Goree. It seemed appropriate to borrow some lyrics from the Fab Four, I hope they don't mind .... If you need help, please do get in touch with us at 55.financial because we wanna hold your hand! #LABS25 #OneMinuteBriefs #Help #Business #Financial #Management

Caroline Foot and Martin Vincent are in Liverpool for engager labs, we're super excited to hear what innovations we can deploy for the benefit of our clients. Thanks very much Johann Goree and the Engager.app team for organising this great event

𝐓𝐡𝐞 𝐑𝐢𝐠𝐡𝐭 𝐀𝐝𝐯𝐢𝐬𝐞𝐫𝐬 – 𝐏𝐥𝐚𝐧𝐧𝐢𝐧𝐠 𝐀𝐡𝐞𝐚𝐝 A successful business sale doesn’t happen overnight. 𝐓𝐡𝐞 𝐛𝐢𝐠𝐠𝐞𝐬𝐭 𝐦𝐢𝐬𝐭𝐚𝐤𝐞? 𝐋𝐞𝐚𝐯𝐢𝐧𝐠 𝐞𝐱𝐢𝐭 𝐩𝐥𝐚𝐧𝐧𝐢𝐧𝐠 𝐭𝐨𝐨 𝐥𝐚𝐭𝐞. To achieve 𝐦𝐚𝐱𝐢𝐦𝐮𝐦 𝐯𝐚𝐥𝐮𝐞 and a 𝐬𝐦𝐨𝐨𝐭𝐡 𝐭𝐫𝐚𝐧𝐬𝐢𝐭𝐢𝐨𝐧, you need to engage the right experts at 𝐝𝐢𝐟𝐟𝐞𝐫𝐞𝐧𝐭 𝐬𝐭𝐚𝐠𝐞𝐬—long before you’re ready to sell. 𝐖𝐡𝐨 𝐝𝐨 𝐲𝐨𝐮 𝐧𝐞𝐞𝐝, 𝐚𝐧𝐝 𝐰𝐡𝐞𝐧? 𝟑-𝟓 𝐘𝐞𝐚𝐫𝐬 𝐁𝐞𝐟𝐨𝐫𝐞 𝐄𝐱𝐢𝐭: 𝐁𝐮𝐢𝐥𝐝𝐢𝐧𝐠 𝐚 𝐒𝐞𝐥𝐥𝐚𝐛𝐥𝐞 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐂𝐨𝐧𝐬𝐮𝐥𝐭𝐚𝐧𝐭 – Helps refine strategy, scalability, and operational efficiency.  𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐌𝐚𝐧𝐚𝐠𝐞𝐦𝐞𝐧𝐭 𝐄𝐱𝐩𝐞𝐫𝐭 – Strengthens financial reporting, cash flow, and profitability.  𝐒𝐚𝐥𝐞𝐬 & 𝐌𝐚𝐫𝐤𝐞𝐭𝐢𝐧𝐠 𝐒𝐩𝐞𝐜𝐢𝐚𝐥𝐢𝐬𝐭 – Ensures sustainable revenue growth and a scalable client base.  𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐂𝐨𝐚𝐜𝐡 – Guides leadership development and transition planning.   𝐖𝐞𝐚𝐥𝐭𝐡 𝐌𝐚𝐧𝐚𝐠𝐞𝐫 𝐚𝐧𝐝 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐏𝐥𝐚𝐧𝐧𝐞𝐫 – to support your personal wealth planning.  This is the phase where you 𝐭𝐮𝐫𝐧 𝐲𝐨𝐮𝐫 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐢𝐧𝐭𝐨 𝐚𝐧 𝐚𝐭𝐭𝐫𝐚𝐜𝐭𝐢𝐯𝐞 𝐚𝐬𝐬𝐞𝐭—one that can thrive without you. 𝟏-𝟐 𝐘𝐞𝐚𝐫𝐬 𝐁𝐞𝐟𝐨𝐫𝐞 𝐄𝐱𝐢𝐭: 𝐒𝐭𝐫𝐮𝐜𝐭𝐮𝐫𝐢𝐧𝐠 𝐟𝐨𝐫 𝐕𝐚𝐥𝐮𝐞 & 𝐄𝐟𝐟𝐢𝐜𝐢𝐞𝐧𝐜𝐲 𝐓𝐚𝐱 𝐒𝐩𝐞𝐜𝐢𝐚𝐥𝐢𝐬𝐭 – Advises on structuring the sale for maximum tax efficiency.  𝐋𝐞𝐠𝐚𝐥 𝐀𝐝𝐯𝐢𝐬𝐞𝐫 – Ensures compliance, contracts, and shareholder agreements are in place.  𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐞 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 𝐀𝐝𝐯𝐢𝐬𝐞𝐫 – Prepares valuation insights and sale readiness.  𝐇𝐑 & 𝐏𝐞𝐨𝐩𝐥𝐞 𝐂𝐨𝐧𝐬𝐮𝐥𝐭𝐚𝐧𝐭 – Strengthens leadership succession and team stability. By this stage, your business should be 𝐫𝐮𝐧𝐧𝐢𝐧𝐠 𝐥𝐢𝐤𝐞 𝐚 𝐰𝐞𝐥𝐥-𝐨𝐢𝐥𝐞𝐝 𝐦𝐚𝐜𝐡𝐢𝐧𝐞, proving to buyers it can operate successfully post-sale, proving to buyers it can operate successfully post-sale. 𝐅𝐢𝐧𝐚𝐥 𝟏𝟐 𝐌𝐨𝐧𝐭𝐡𝐬: 𝐓𝐡𝐞 𝐒𝐚𝐥𝐞 𝐏𝐫𝐨𝐜𝐞𝐬𝐬 𝐂𝐨𝐫𝐩𝐨𝐫𝐚𝐭𝐞 𝐅𝐢𝐧𝐚𝐧𝐜𝐞 𝐀𝐝𝐯𝐢𝐬𝐞𝐫 – Leads negotiations and ensures the best deal.  𝐋𝐞𝐠𝐚𝐥 𝐓𝐞𝐚𝐦 – Drafts sale agreements and due diligence support.  𝐖𝐞𝐚𝐥𝐭𝐡 𝐌𝐚𝐧𝐚𝐠𝐞𝐫 & 𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥 𝐏𝐥𝐚𝐧𝐧𝐞𝐫 – Secures personal wealth and reinvestment post-sale. 𝐓𝐡𝐞 𝐛𝐞𝐬𝐭 𝐞𝐱𝐢𝐭𝐬 𝐝𝐨𝐧’𝐭 𝐡𝐚𝐩𝐩𝐞𝐧 𝐛𝐲 𝐜𝐡𝐚𝐧𝐜𝐞—𝐭𝐡𝐞𝐲 𝐡𝐚𝐩𝐩𝐞𝐧 𝐛𝐲 𝐝𝐞𝐬𝐢𝐠𝐧. Start planning early, surround yourself with the right advisers, and create the business that buyers compete for. 𝐀𝐫𝐞 𝐲𝐨𝐮 𝐛𝐮𝐢𝐥𝐝𝐢𝐧𝐠 𝐚 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐬𝐨𝐦𝐞𝐨𝐧𝐞 𝐰𝐢𝐥𝐥 𝐰𝐚𝐧𝐭 𝐭𝐨 𝐛𝐮𝐲? #𝐄𝐱𝐢𝐭𝐏𝐥𝐚𝐧𝐧𝐢𝐧𝐠 #𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬𝐒𝐚𝐥𝐞 #𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜𝐆𝐫𝐨𝐰𝐭𝐡 #𝐋𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 #𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥𝐏𝐥𝐚𝐧𝐧𝐢𝐧𝐠 #𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬𝐂𝐨𝐚𝐜𝐡𝐢𝐧𝐠 #𝐓𝐚𝐱𝐄𝐟𝐟𝐢𝐜𝐢𝐞𝐧𝐜𝐲 #𝐁𝐮𝐢𝐥𝐝𝐓𝐨𝐒𝐞𝐥𝐥 

𝐖𝐡𝐚𝐭 𝐃𝐨 𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐎𝐰𝐧𝐞𝐫𝐬 𝐍𝐞𝐞𝐝 𝐌𝐨𝐬𝐭 𝐚𝐬 𝐋𝐞𝐚𝐝𝐞𝐫𝐬? Running a business is more than just making decisions—it’s about leading with confidence, especially in uncertain times. But what do business owners themselves need most as leaders? At the top of the list: 𝐇𝐨𝐩𝐞 – A vision for the future that inspires confidence, even in challenging times. 𝐓𝐫𝐮𝐬𝐭 – The foundation of every strong business relationship, from clients to teams. 𝐂𝐨𝐦𝐩𝐚𝐬𝐬𝐢𝐨𝐧 – Understanding the human side of business—both for yourself and those around you. 𝐒𝐭𝐚𝐛𝐢𝐥𝐢𝐭𝐲 – The ability to navigate uncertainty with clarity and resilience. 𝐇𝐨𝐩𝐞—the feeling of wanting and expecting a particular thing to happen; something that you wish for, is what keeps businesses moving forward. But perhaps no one needs it more than those steering the ship, business owners who are making tough decisions, managing risk and striving for sustainable growth. This became clear to me during a recent conversation with a business owner who felt overwhelmed by uncertainty. Their challenge wasn’t just about numbers, it was about having clarity, confidence and the reassurance that they were making the right decisions. Leadership in business isn’t about having all the answers, it’s about guiding, reassuring and encouraging yourself and those around you. Whether it’s strengthening cash flow, scaling for growth or preparing for an exit strategy, business owners need to build an environment where 𝐡𝐨𝐩𝐞, 𝐭𝐫𝐮𝐬𝐭, 𝐜𝐨𝐦𝐩𝐚𝐬𝐬𝐢𝐨𝐧, 𝐚𝐧𝐝 𝐬𝐭𝐚𝐛𝐢𝐥𝐢𝐭𝐲 are at the core. So how do you, as a business leader, ensure you bring these qualities into your leadership and decision-making? 𝐖𝐡𝐚𝐭’𝐬 𝐦𝐚𝐝𝐞 𝐭𝐡𝐞 𝐛𝐢𝐠𝐠𝐞𝐬𝐭 𝐢𝐦𝐩𝐚𝐜𝐭 𝐨𝐧 𝐲𝐨𝐮 𝐚𝐬 𝐚 𝐥𝐞𝐚𝐝𝐞𝐫 𝐢𝐧 𝐲𝐨𝐮𝐫 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐣𝐨𝐮𝐫𝐧𝐞𝐲? #𝐁𝐮𝐬𝐢𝐧𝐞𝐬𝐬𝐋𝐞𝐚𝐝𝐞𝐫𝐬𝐡𝐢𝐩 #𝐄𝐧𝐭𝐫𝐞𝐩𝐫𝐞𝐧𝐞𝐮𝐫𝐬𝐡𝐢𝐩 #𝐅𝐢𝐧𝐚𝐧𝐜𝐢𝐚𝐥𝐂𝐥𝐚𝐫𝐢𝐭𝐲 #𝐇𝐨𝐩𝐞 #𝐓𝐫𝐮𝐬𝐭 #𝐒𝐭𝐚𝐛𝐢𝐥𝐢𝐭𝐲 #𝐃𝐞𝐜𝐢𝐬𝐢𝐨𝐧𝐌𝐚𝐤𝐢𝐧𝐠 #𝐆𝐫𝐨𝐰𝐭𝐡

Financial benefit for small business owners and their companies ... An opportunity arises when owners make loans to their companies. Charging interest at a market rate can result in tax savings and other benefits. Company tax efficiency: When business owners charge interest on loans to their company, the payments are treated as a deductible expense. This expense can reduce taxable profits subject to corporation tax. Personal tax efficiency: Interest received by the owner does count as taxable income but, unlike a bonus paid via PAYE, there is no employees or employers national insurance cost. Interest paid by your company is even better than dividends because dividends are paid from company profits after corporation tax has been charged and are also subject to income tax on the shareholder receiving them. Investment cost recognition: Charging interest helps business owners ensure that their investments in their companies are recognised appropriately, they receive a fair compensation and business profits reflect arm’s length borrowing terms. Building business creditworthiness: Handling owner loans on an arm’s length basis can help strengthen a company's financial profile by demonstrating a strong servicing and repayment history which could help in securing future funding from third parties. Key Considerations: - The interest rate should be set at a commercial rate to avoid tax complications. - Maintaining clear documentation of the loan terms and repayment schedules to support tax claims is recommended. - When a company pays interest to an individual, it must make a basic rate tax deduction and account for this tax to HMRC on a quarterly basis. The tax deducted counts towards the individual’s personal income tax liability. - Loans made can be risky, especially if the company has inadequate security to offer the lender. #SmallBusiness #OwnerLoans #TaxEfficiency #55financial

𝐌𝐨𝐬𝐭 𝐛𝐮𝐬𝐢𝐧𝐞𝐬𝐬 𝐨𝐰𝐧𝐞𝐫𝐬 𝐬𝐭𝐚𝐫𝐭 𝐰𝐢𝐭𝐡 𝐚 𝐯𝐢𝐬𝐢𝐨𝐧, 𝐛𝐮𝐭 𝐡𝐨𝐰 𝐦𝐚𝐧𝐲 𝐨𝐩𝐞𝐫𝐚𝐭𝐞 𝐰𝐢𝐭𝐡 𝐥𝐚𝐬𝐞𝐫 𝐟𝐨𝐜𝐮𝐬 𝐨𝐧 𝐭𝐡𝐞 𝐞𝐧𝐝 𝐠𝐨𝐚𝐥?     If your plan is to exit in 3-5 years, you need to start today—because businesses don’t sell on potential, they sell on value.     𝐖𝐡𝐚𝐭’𝐬 𝐭𝐡𝐞 𝐠𝐨𝐚𝐥? Define your ideal exit. Is it a sale, a merger, or succession?  𝐖𝐡𝐚𝐭’𝐬 𝐭𝐡𝐞 𝐩𝐚𝐭𝐡? Identify the key drivers that create enterprise value.  𝐎𝐛𝐬𝐞𝐬𝐬 𝐨𝐯𝐞𝐫 𝐧𝐮𝐦𝐛𝐞𝐫𝐬. Revenue, profitability, recurring income, EBITDA; buyers pay for certainty.  𝐓𝐢𝐦𝐞 𝐡𝐨𝐫𝐢𝐳𝐨𝐧. Every decision must align with the exit timeline.   𝐖𝐡𝐚𝐭’𝐬 𝐭𝐡𝐞 𝐰𝐡𝐲? Is it financial freedom? A new venture? More time for family? Your motivation fuels your discipline.     𝐓𝐡𝐞 𝐛𝐢𝐠𝐠𝐞𝐬𝐭 𝐦𝐢𝐬𝐭𝐚𝐤𝐞? Waiting too long. Every business is for sale at the right price; so build yours like someone will want to buy it.     𝐓𝐡𝐞 𝐛𝐞𝐬𝐭 𝐞𝐱𝐢𝐭𝐬 𝐡𝐚𝐩𝐩𝐞𝐧 𝐛𝐲 𝐝𝐞𝐬𝐢𝐠𝐧, 𝐧𝐨𝐭 𝐛𝐲 𝐜𝐡𝐚𝐧𝐜𝐞. Are you building a business that someone would fight to own? If you missed it check out the podcast link in the comments.

Saving of up to £195 available but you need to act soon ... From 1st April 2025, electric vehicles will no longer be exempt from Vehicle Excise Duty. By renewing in March 2025 (even if the renewal is not due next month) you can extend your exemption and avoid the standard rate of £195 for another year. #Save #£195