Online Money Manager
Delayed paymendt will impede your credit score
A business’s net financial position changes every day. Consequently, where the purchase consideration is based partly on the net asset position, there has to be a ‘cut off date. It is usual for financial statements to be drawn up on the cut off date to finalise the purchase price: these statements are known as ‘completion accounts’.
Any arrangements that include deferred or delayed payments of the purchase price of your business, or payment in shares, should be examined by your taxation advisers to ensure you keep your tax liability to a minimum. Deferred payment instruments, such as loan notes, can be a very effective way of reducing your tax liability, but expert advice is required in an area of the law that is always changing.
Welcome! My name is Eve Santori. I professionally deal with money management for almost 15 years now and this blog was created to share some of my knowledge with your. After graduation from Stanford University I learned a lot about thing that ordinary people find confusing and frightening, such as loans, mortgage or debt. I shared that experience in two books that I've published, but I also decided to offer the same information on my blog. So, there it is!