Streets Chartered Accountants covers Virtual Finance Offices, Working Capital Cycles, Annual Tax on Enveloped Dwellings, and more in new news roundup

Working Capital Cycle

Every business has a working capital cycle. This is the time it takes for your business to turn net current assets into available cash.

The longer the working capital cycle, the more time it takes for your business to get a robust cash flow. It’s good practice for businesses to manage their cycle by looking at each step where possible. This could be by selling stock or product quicker, collecting monies owed sooner and possibly paying bills later on. Read more.

Podcast: Purchasing your car through salary sacrifice? There’s a thought…

This episode of The Streets Sessions features Steve Thornton of Motor Source Corporate, a business set up by Steve to provide a car salary sacrifice programme.

In conversation with him Streets discuss how both employees and employers could benefit from using a car salary sacrifice programme. Listen now.

How do you avoid financial forecasting that ends up with rain instead of sunshine?

Financial forecasting can often feel like the weather forecast, financial predictions not always being as rosy as planned, or in many cases, as hoped – a bit like the weather whilst sunshine is predicted rain all too often can be the outcome.

Whilst many businesses will look to use financial forecasting as part of their day-to-day management, there are also many who only produce financial forecasts based on need, say for external finance or investment. Read more.

Annual Tax on Enveloped Dwellings (ATED)

The Annual Tax on Enveloped Dwellings (ATED) was introduced in 2013 to eliminate any tax advantages from holding high-value homes in a corporate structure. In particular the intention was to prevent non-domiciled investors gaining an advantage by holding UK residential property in a non-UK company to avoid triggering UK stamp duty land tax or capital gains tax charges on a subsequent disposal.

However, the charge can apply to any UK residential property wholly or partly owned by a company (including a partnership with a corporate member). Read more.

The Budget 2024 – catch up!

Last week Streets hosted a post Budget webinar, ​​​​​​​providing details of the announcements along with an update on topical issues affecting business clients and private individuals for the new tax year 2024/25.

This presentation was recorded and is now available on demand for those who weren’t able to join live. Watch now.