Business owners often ask me how much their business is worth. And although the answer is ‘Whatever someone will pay for it’, there are some very good, simple methods for calculating the value.
The classic formula is:
Business value = Profits x Price earnings ratio
Big changes to PAYE
PAYE was introduced to help provide funds to pay for the Second World War. Real Time Information (RTI), which applies from 6 April 2013, is the most significant change since its introduction. RTI is compulsory and incorrect returns may give rise to penalties.
£2,275 grants for employers
Government grants of up to £2,275 are available if you take on a full-time young employee.
R&D tax relief
Research and development tax relief is a government-initiated scheme to encourage the development of innovative technology in the UK. However, many companies do not realise they have eligible projects..
That’s all for this month. Feel free to contact me at any time.