Advice

Tariffed and bust? What should businesses be considering in the face of tariffs?

Although many American citizens may be questioning “ Liberation Day” there is no doubt that The US administration’s announcement of global tariffs have sent markets and world trade into uncertain times. How will tariffs impact UK businesses? Are they an opportunity or a risk? What are the tariffs and how do they apply to UK businesses At the time of writing this article the tariffs are outlined below. However, as President Trump has made a number of changes on a regular basis since the initial announcements you should check up to date information when you read it! The good news [...]

2025-04-23T21:43:31+00:00April 23rd, 2025|Advice, Updates|

Is your business sustainable after 6 April 2025? Are you addressing the issues head on or “hoping for the best”?

The recent increases in National Insurance (NI) contributions and the minimum wage in the UK have posed significant challenges for small businesses.  The rise in employer NI contributions from 13.8% to 15% and the lowering of the salary threshold for contributions have increased staff costs. Coupled with the minimum wage hike mean businesses face tighter profit margins. What can you do? Reduce Hiring and Hours: Many small businesses, especially in sectors like retail and hospitality, should consider reducing staff hours or delaying hiring plans to manage the financial strain.  Opening hours should also be considered.  When do you make your [...]

2025-04-16T23:19:41+00:00April 16th, 2025|Advice, Directors|

Director’s Loans: Borrowing from Your Business

There are two main types of Directors Loans; borrowing on your business (in debit) or lending your business money (in credit). This article will focus on the former; when a director takes money out of the business that is not for their salary, dividends, or as an expenses repayment. In theory, taking out a Directors Loan can be a handy solution to any short-term cashflow problems you may be having, but only if you know that you can pay them back in a timely manner, and with interest. It’s also important to note that there are tax implications for the [...]

2025-04-07T21:19:50+00:00March 20th, 2025|Advice, Directors|

Bailiffs: What Are Your Rights?

No one wants to have that knock on the door and realise that bailiffs have come to claim your assets, but for a lot of people, the panic takes over and you blindly assume that you must do exactly as the bailiffs say. This is not the case. You have rights, and it’s important that you understand them if you are ever in this situation. Bailiffs do NOT have the right to enter your home or business premises and there is nothing stopping you from talking to them through the door or a window. Unless they have a signed writ [...]

2025-03-10T23:44:58+00:00March 3rd, 2025|Advice|

How Can I Tell if My New Customer is “Good for the Money”?

As a business owner, it is important to ensure that your new customers are financially reliable and capable of fulfilling their payment obligations. The phrase “good for the money” is a common one in business, referring to a customer who is likely to pay you on time and in full. But how can you determine if a new customer falls into this category? Here are some key steps to help you make a more informed decision: Conduct a Credit Check A credit check is one of the most straightforward ways to assess a customer's financial standing. Credit reference agencies can [...]

2024-10-13T21:48:20+00:00October 2nd, 2024|Advice|

If it sounds too good to be true it probably is!

Recent developments involving Atherton Corporate (UK) Ltd and Atherton Corporate Rescue Limited highlight the risks associated with unqualified advice in times of financial distress. These companies, which falsely claimed to offer a legal alternative to insolvency practitioners, misled directors facing company debts. They encouraged the disposal of assets and assured directors they could escape responsibility for company liabilities. The closure of Atherton companies and their associated firms underscores the critical need for businesses to seek guidance from licensed insolvency practitioners. Unlike unregulated entities, Insolvency Practitioners (IPs) are qualified professionals who adhere to stringent ethical and legal standards set by governing [...]

2024-10-13T21:49:05+00:00September 26th, 2024|Advice|

Rising Insolvency Rates Exceed Financial Crisis Levels – What This Means for Businesses

In a concerning turn of events, the number of UK companies facing insolvency has now surpassed levels seen during the 2008 financial crisis. Recent figures highlight that over 25,000 businesses entered insolvency in the last year alone, representing a sharp increase driven by economic factors such as high interest rates, inflation, and ongoing market volatility. This marks a critical period for companies struggling to navigate the challenging financial landscape. Many businesses, particularly in sectors like construction, retail, and hospitality, have been hit hardest. The combination of decreased consumer spending, increased borrowing costs, and ongoing supply chain disruptions has created a [...]

2024-09-30T08:34:52+00:00September 19th, 2024|Advice, Updates|

I Am Not Being Paid by a Customer: What Are My Options?

As a business owner, one of the most frustrating challenges you can face is a customer who fails to pay on time or, even worse, doesn’t pay at all. This can significantly impact your cash flow, limit your ability to meet your own obligations, and, in extreme cases, jeopardise the survival of your business. If you find yourself in this situation, it's important to know your options and the steps you can take to recover the debt. Communicate Clearly and Promptly Before taking any formal steps, attempt to resolve the issue through direct communication. Often, late payments result from simple [...]

2024-09-30T08:36:07+00:00September 12th, 2024|Advice|

Restructuring Your Business for Recovery: A Strategic Approach

In the vibrant world of business, encountering financial difficulties can be daunting. At DMC Recovery, we understand the importance of seeking help early when your business is facing financial problems. Our primary aim is to enable companies to continue trading and increase the prospect of recovery through effective restructuring if necessary. Comprehensive Operational Assessment The first step in our approach is a thorough assessment of your entire operation. We will work closely with you to identify which parts of your business are profitable and which are not. This detailed analysis helps in pinpointing the segments that are draining resources and [...]

2024-07-25T06:33:25+00:00July 23rd, 2024|Advice, Directors|

5 Top Tips for a Smooth Summer: Ensuring Business Continuity During Staff Holidays

As summer approaches, businesses often face the challenge of maintaining smooth operations while staff members take their well-deserved holidays. At DMC Recovery, we understand the importance of effective planning to ensure that business continuity is not compromised during this period. Here are our top five tips to help you prepare for a seamless summer. Plan Ahead for Staff Holidays One of the most crucial steps in preparing for summer is to plan staff holidays well in advance. Encourage your employees to submit their holiday requests as early as possible. This allows you to map out the periods when key personnel [...]

2024-07-23T06:21:10+00:00July 15th, 2024|Advice|
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