Business News

Thursfields provided legal advice to the shareholders of Precedental. Director Gareth Burge and associate Joe Rollins advised on corporate matters, with Lisa Kemp providing employment advice and Ben Lyons advising on property matters. Burge said: “Precedental was founded in 1990 by directors Ross Liversidge and Peter Smith in conjunction with the Prince’s Youth Business Trust. The company is a specialist dental service provider and is highly regarded in its field by dental practices. “We are very pleased to have been able to advise on the deal, which will enable Precedental to consolidate its place in the market as an industry leader.” Ross Liversidge and Peter Smith, founders of Precedental, commented: “We definitely made the right decision in choosing Thursfields to represent us in the sale of our business. The high level of client care and service we received from Gareth, Joe and the entire team at Thursfields was second to none! Their advice, guidance, attention to detail and support made the entire sale process much easier for us. We would have no hesitation in recommending Thursfields and we are so pleased they were recommended to us – for any legal matters in the future, they will be our go to for sure!” Corporate finance advice was provided to the shareholders of Precedental by BSN Associates. ALS was advised by Lawrence Stephens (legal) and Azets (corporate finance).

Chris Williams explains Research and Development (R&D) Tax Credits “The ThirdRock Way”. Company Directors will recall discussing with their accountant the most tax efficient method for profit extraction and a conversation around salary v dividend. Despite Government measures to level the playing field, the savings in National Insurance Contributions continue to outweigh the company tax relief on salary for many Directors with, the optimum strategy landing on a combination of nominal salary and profit balance taken as dividend. Chris Williams of ThirdRock considers the Director of an innovating Company, claiming R&D Tax Credits who is devoting a lot of time to Research and Development. The Director will be shocked to learn that the valuable 230% tax deduction applies only to staff costs, including salary but cannot value the Directors dividend. Should the Director challenge the traditional thinking around salary v dividend, and which is best? ThirdRock take a holistic approach to R&D tax claims and have crunched the numbers with some startling results. R&D Tax Credits remain a generous cornerstone of the UK tax code and many local companies are not claiming. With the average claim worth an estimated £54,000 contact us to see how we may reward your innovation.