An interesting bit of PR insight in to the haulage company that bears Eddie Stobart's name: news.bbc.co.uk/1/hi/business/5315366.stm
The biggest surprise was reading that at one point the fan club made a profit whereas the trucks didn't, and even today, with 850 vehicles the profit is only £6000 per truck per year.
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There is a case for loosing profit though as it reduces your tax bill - so things like purchasing equipment and claiming every possible tax deductable comes into it. Profit should be looked at excluding some of the more, er, questionable deductables.
My accountant claims for so many things, even with my small business, so even on years that I dont appear to make a profit, you should see the stuff ive been able to buy instead of showing one.
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The company in question has large amounts registered abroad I thing.
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I'm self-employed and most tax deductions are just that. For instance, if I buy a computer, I can't claim its cost against tax, only against my taxable income, which probably amounts to about 25% off its price.
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My accountant claims for so many things, even with my small business, so even on years that I dont appear to make a profit, you should see the stuff ive been able to buy instead of showing one.
You should sit down, (sober) and read your own words. If you still can't work it out I respectfully suggest you either get a grip or seek some grown up advice.
MD
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Please this is the kind of accountant Ive been looking for!! I live in Surrey and can be contacted via my contacts
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I'm a chartered accountant by training, and I can tell you that there are far too many accountants in practice servicing businesses who concentrate on saving their clients tax (in itself this is of course a good thing) to the exclusion of giving them advice on how to develop their businesses towards greater profitability and security.
This demands more lateral thinking on the part of both client and adviser, and is therefore in short supply.
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