Cause for optimism?

Posted on 11th April 2023 by Streets - Business Support

As we have moved into the new tax year, since 6 April 2023, the March hares have had their opportunity for madness and there is just a glimmer of warmer weather ahead. And perhaps, we may even witness a growing measure of control over rising prices.

There were a few good tidings for business owners in the recent Budget, for example, the unlimited expensing (100% write-off) of qualifying capital expenditure for companies, and the abolition of the lifetime limit on pension pots.

But whilst we may draw deeper breaths and enjoy the sun on our faces in the coming weeks there are still challenges ahead and we would do well to be mindful…

Is now a good time to take stock? To quantify any damage to balance sheets and to reappraise our trading prospects in the coming year? We would say yes, it is.

And whilst we can undertake this “planning” while we soak up the spring sun, it is more productive to give yourself half-a-day away from your desk and create a formal business plan that you can use to measure performance in the coming months.

Every business and business owner will have a unique set of circumstances to deal with during 2023. If you are keen to make the most of any upturn in trade, now is the perfect time to consider your options.

We can help.

No Advice

The content produced and presented by Streets is for general guidance and informational purposes only. It should not be construed as legal, tax, investment, financial or other advice. Furthermore, it should not be considered a recommendation or an offer to sell, or a solicitation of any offer to buy any securities or other form of financial asset. The information provided by Streets is of a general nature and is not specific for any individual or entity. Appropriate and tailored advice or independent research should be obtained before making any such decisions. Streets does not accept any liability for any loss or damage which is incurred from you acting or not acting as a result of obtaining Streets' visual or audible content.

Information

The content used by Streets has been obtained from or is based on sources that we believe to be accurate and reliable. Although reasonable care has been taken in gathering the necessary information, we cannot guarantee the accuracy or completeness of any information we publish and we accept no liability for any errors or omissions in material. You should always seek specific advice prior to making any investment, legal or tax decisions.