Monthly Archives: July 2013

Welcome to the Brand New PM+M Blog – The Online Hub For News, Hints and Tips About Your Personal and Business Finances

Hello and welcome to the very first blog post on our newly launched website!

PM+M AccountantsWe’ve worked hard to ensure that our new website is cleaner, fresher and as user friendly as possible. It still has all the information you need including contact details, information on our services and our latest news and events, but we’ve also added some exciting new features (such as this blog) and video content – check out our new partner profile videos, we hope you like them as much as we do!

The website has been built using the latest responsive technology, which basically means that however you choose to view the site, either via a smartphone, tablet or pc – it will automatically adapt to give you (what our web designers like to call) ‘an optimal viewing experience’ – making it really easy to read and navigate, with minimal resizing and scrolling.

We’ll be updating this blog with regular posts to keep you up to speed with all the latest news, hints and tips regarding personal and business finance, as well as the fun things that are happening behind the scenes here at PM+M. We’ll have contributions from all of our teams covering accounts, audit, tax, payroll, corporate finance, wealth management and technologies – hopefully there’ll always be something interesting and useful for you to read, so remember to check back regularly!

We’d love to know what you think of this blog and our new website, so please have a good look around and tell us what you think. You can do that in a number of ways, simply leave a comment at the bottom of this post, drop us an email social@pmm.co.uk or tweet us @pmm_acc

Look forward to hearing you what you think!

Claire Jewsbury – PM+M Marketing Team

Tax Man Launches Further Attack on Owner Managed Businesses

The tax rules on loans that company owners take from their business are set to be toughened warns Jane Parry, head of tax at PM+M.

There are already longstanding rules that impose a tax charge if company owners have borrowed money from the company and not repaid it.  In this Spring’s Budget we saw some more rules introduced to stop people getting round this tax charge by repaying the loan and then taking out a new one soon after.

The government has now launched a consultation exercise to consider how else they might tighten up the loans to participators regime.  There are a number of options under consideration and we are unlikely to know which one is chosen until this year’s Autumn Statement.

What seems clear, though, is that business owners need to keep a close eye on the rules and, wherever possible, avoid having outstanding loans that will give them a tax problem.  “We work with our clients at the start of the year to plan their cash extractions from the company in advance so as to prevent such tax charges arising” says Jane.  “That has got to become best practice for all owner managed companies.”

For more information about the proposed tax changes or any other tax planning queries, contact Jane Parry at jane.parry@pmm.co.uk or on 01254 679131.

New Grant Fund Available for Lancashire Businesses

A new grant fund has just been launched aimed at Lancashire businesses less than 3 years old.

Businesses can apply for capital grants of 25% of the total investment cost up to a maximum of £50,000. The minimum grant is £5,000 implying that the capital cost of the project must be at least £20,000. The grant covers machinery, property improvement, building expansion and infrastructure improvement with a condition is that jobs must be created (not just preserved).

For more information visit www.fusefund.co.uk or contact Jim Akrill on 01254 604353 to discuss your eligibility.