June 2021
Your monthly news & updates
Welcome to our monthly newsletter for June. Don’t forget that if you have any further questions for us, we are always here to help.
CGT BUSINESS ASSET DISPOSAL RELIEF
Check that your shares qualify for CGT business asset disposal relief. A recent case before the tax tribunal has confirmed that all of a company’s shares are ordinary shares except those that carry a fixed rate of return.

This is crucial as CGT business asset disposal (BAD) relief requires a shareholder to be entitled to at least 5% of a company’s ordinary share capital in addition to being an officer or employee of the company, and for the company to be a trading company or the holding company of a trading group. 

These conditions need to be satisfied throughout the 24 months prior to the disposal of the shares. This two-year rule is important if you are considering transferring some of your shares to other family members now that only the first £1 million qualifies for CGT BAD relief.

HOW TO PIVOT YOUR BUSINESS STRATEGY
If your business is going through a tough period, it may be time to pivot your business strategy. Many businesses have had to pivot their strategies due to the current market conditions. Before doing anything else, it is imperative that you do your research; reassess your current business model and begin building a new approach from there.

Pivoting your strategy may involve targeting a different customer base, new routes to market or even a new range of products and services. If pivoting your strategy pushes you into a new market, you will likely need to re-evaluate your approach to sales, marketing and day to day business processes.
WHY YOU SHOULD TAKE YOUR DOG TO WORK WITH YOU
With lockdown restrictions beginning to ease, more people have started returning to the office, which is great for moral and getting back to normality - not so great however, for their fluffy friends back home who are having to adjust to not having their owners company 24/7.

It is, therefore, a great time to consider taking your dog to the office with you. Especially if it is a Covid puppy that has only ever known you to work from home.

Not only will having your dog in the office help to prevent feelings of anxiety or stress that they may have, it may also help you. Scientific research has looked in to why dogs and the workplace go so well together and the results are very satisfying.
CLIENT SPOTLIGHT
Kwellers is a small family run Café and Gift Shop in St. Neots and as with all businesses in the hospitality sector, they had to shut their doors during each lockdown, not knowing when, or if, they would be able to reopen. We spoke with them to discuss how the business has coped in a year like no other!

“During this time, Fletcher Thompson have been a huge support in sorting the furloughing scheme and helping with advice until we could open again. They have been invaluable to us and we cannot thank them enough!

After just over a year since the first lockdown, in April this year, we were fortunate enough to be able to re-open for outside seating, retail and children’s groups. Although we did not get too many outside customers, due to the unpredictable weather, our children’s groups have thrived.

Our doors are now fully open for everything and we have welcomed many regular customers back to us, as well as some new, who we hope will become regulars in the future. We also have a new team of staff, as well as new and improved retail facilities”

Kwellers will be celebrating their third Anniversary in the first week of August 2021 ensuring they mark the occasion with a week packed full of fun events and celebrations.
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