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Menzies in the media – November 2019

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As part of Menzies commitment to sharing #BrighterThinking, our teams of accounting and business advisors have been providing their opinions on some of the leading hot topics raised within some of the UK’s leading national, regional and specialist press titles.

Here follows a summary of Menzies in the media for November 2019.


Phil Wright - Menzies AccountantDirector and business advisor Phil Wright, explores Menzies concept of the ‘Good Business Equation’ and how this accounting formula can be used by business owners to assess and maximise the value of their business activities.

“Businesses are constantly considering ways to improve profitability, however, knowing where to start can be the biggest hurdle for many SME owners. This simple, visual concept encourages SMEs to consider more than just profit when regarding the value of the business – it also shows the impact that risk can ultimately have on a valuation.”

Read Phil’s article in full via Business Matters.

k pagetCorporate Finance Director Kevin Paget evaluates the current strong availability of credit and the opportunity it offers to business owners considering an exit.

“When a shareholder is considering an exit, they sometimes think a trade sale is the only option and would be more likely to achieve the value they are seeking. They may not have considered selling to the management team because they believe the individuals involved lack the resources and/or capability to take on the running of the business and make a success of it.”

Read Kevin’s feature via SME News.

Freddy Khalastchi - Menzies AccountantFollowing the announcement of Mothercare’s collapse into administration, Business Reocvery Partner Freddy Khalastchi’s comments we’re featured across a number of business and financial publications including City AM, the Mail Online, The Telegraph and AccountingWeb.

“Despite Government figures suggesting that only about one in three CVAs are successful, this is yet another high-profile example of the process failing to turn a retailer’s financial fortunes around. While more struggling retailers are clutching onto CVAs as a means of restoring profitability, it’s important to recognise that they work where stores already have a viable business model, otherwise they are only a temporary sticking plaster solution. Exploring experiential retail methods, reacting to changing consumer habits and a strategic rethink will be required to weather the storm facing the sector.”

accountant rachel lai headshotInsolvency Director Rachel Lai, evaluates the pros and cons of a Director’s loan for a quick cash injections.

“Directors’ loan accounts provide a record of money lent to, or borrowed from, the company by its directors which is not a business cost, such as salary, dividend or expense payments. For example, if the organisation is struggling to afford an important piece of equipment, the director may decide to fund the asset personally in order to boost business performance.”

Read Rachel’s feature via Insider Media – Wales.

accountant john cullenFollowing the news of a new rescue deal for British Steel, Insolvency Partner John Cullen

“‘This agreement in principle is good news – but some caution is needed as the deal has not yet been completed. With steel consumption falling and weak performance across the manufacturing sector in Europe, the prospective owner of British Steel has not ruled out the need for some cost cutting, although its primary focus is to expand its operations outside of China.”

Ross WigginsCorporate Finance Director Ross Wiggins’ comments are features following the news that Funding Xchange secures an £8million funding to roll out a new white labelled service.

“Funding Xchange is an extremely innovative platform, which provides a much-needed solution to the challenges modern banks and lenders face. It was an honour to be involved in the project and I look forward to seeing the company achieve great things in the years to come.”

Read Ross’ comments via Asset Finance International.

Craig HughesPrivate Client Partner Craig Hughes outlines the seven items for individuals involved in the buy-to-let property sector to consider

“Those involved in the buy-to-let property market face a restriction of tax relief of interest payments, the removal of wear and tear relief and the introduction of additional 3% stamp duty charges for purchases of further properties. From 6 April 2020, landlords will also have to accept further restrictions on principal private residence (PPR) relief and letting relief.”

Read Craig’s tax checklist YourMoney.com.


ACCOUNTANCY | FINANCE | BUSINESS

Menzies LLP is an accountancy firm delivering traditional accounting services combined with strategic commercial thinking. Our services include tax, audit, payroll, business recovery as well as a business and financial consultancy service proven to add value and help your business to grow.

Specialising in eight core UK and international business sectors, Menzies’ local accountancy and business advisory offices in London, Surrey, Hampshire and Cardiff, all offer our #BrighterThinking approach.

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Nicky Purnell

Marketing & Business Development Director

For more information on our #BrighterThinking press features contact Nicky Purnell.