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Morgan Davies

VAT penalties - Directors made liable

Between 2008 and 2012 the VAT penalty rules were reconsidered by HMRC. But in order to ensure everyone pays the right amount, the old rules may still be applied under the following criteria:

Prime client expands into Mexico

Prime would like to congratulate one of our clients JJ Churchill Ltd who have just signed a ten year deal with The Offshore Group to manufacture gas-turbine components in Guaymas, Sonora state.

When to be careful taking dividends

It is very common for the shareholder / directors of SME limited companies to take dividends as part of their remuneration strategy. Normally this makes complete sense. However when it can rebound on them is when their company is going through a difficult time and the reserves are very low or even negative, effectively insolvent.

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