Manufacturing Matters - October 2020

  • Bucking the Trend

    If 2020 was not already going to be an uncertain year in the lead up to our full withdrawal from the European Union, nothing could have prepared us for the outbreak of COVID-19. Given the pace in which the pandemic took control of us, both personally and in business, it would have been easy to “down tools” and scale back our activities.
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  • R&D tax relief in a COVID-19 world

    20 years on from its introduction R&D tax relief remains a highly valuable incentive for innovation. However, the pandemic has focused minds on particular aspects, with other changes coming as well.
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  • Annual Investment Allowance (AIA) update

    The AIA (currently set at £1m per year), is the amount of capital expenditure on qualifying plant & machinery that a company can claim 100% Capital Allowances on, giving full tax relief in the year of purchase. Expenditure that doesn’t qualify for AIA gains relief much more slowly, using writing down allowances at the rate of either 18% or 6% per annum (depending on the type of expenditure) on a reducing balance basis.
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  • The importance of Cashflow

    Cash is king. Cash is what drives your business forward. Cash is what is used to pay overheads, employees, taxes and buy stock. Without cash, your business stalls. To prevent that happening you need to be able to predict your cash position, enabling you to make decisions and take action to prevent you running out!
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  • Exiting your business

    When is the right time for us to sell the business? It is a question which every business owner will ask themselves from time to time. The optimal time to sell is theoretically when profits are close to their peak and business is growing, however, overall risk and the potential decreasing appetite for risk as owners advance in years should also be considered.
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