Wrong data can still be right

Data. An endless supply of information wanted by everyone in the business. Are we ensuring that we are receiving (or giving) the data in the correct format, the correct volume required and the data itself correct?

The cost of poor quality of data – how much does it cost your business?

Faced with a tough downturn, the oil and gas industry has been working harder than ever to find smarter ways to do business.  Collaboration and a focus on continuous improvement has seen a positive impact in a number of companies.  Having worked for oil and gas operators and directly with oil service companies for over 20 years, and as a true Aberdonian, I think some might say that the penny has finally dropped in our industry.

Capital Allowances Budget 2018 – Part 2

My previous blog discussed the introduction of the new Buildings Allowances. However, the 2018 budget also introduced some other changes, one of the most significant was the temporary increase in the Annual Investment Allowance (“AIA”) to £1,000,000 from 1 January 2019 for 2 years.  For businesses with high capital expenditure, this allowance could have a positive impact on cashflow, enabling an immediate tax deduction for capital expenditure as opposed to receiving it over a number of years.

The changing face of fundraising

Fundraising for start-ups or early stage companies has never been easy but with more and more technology companies emerging each year, the competition to secure investment is becoming even more challenging.

Crowdfunding – a revolutionary finance solution

The rise of digital platforms has made it possible for businesses to raise finance directly from their end customers. Bypassing traditional channels, crowdfunding has grown in popularity in recent years and become a go-to solution for new and existing businesses. Is your business considering it as a finance option? Before embarking on your own round of crowdfunding there are some crucial points to consider.

What to consider if you are thinking of selling your business

Despite the ongoing uncertainties around Brexit, now is a good time to sell your business.  Trade buyers have not been put off by the economic rollercoaster and private equity houses have plenty of cash to spend.  If you are considering selling your business, here are some points to consider:

The importance of a planned exit strategy

For many private business owners, selling their business isn’t something that regularly plays on their mind.  When it’s full steam ahead looking after the day to day demands of running the company it’s easy to think that it’s a topic for another day, one that will take care of itself when the time comes.  However, just as you should regularly review your other financial assets, a business owner should continually revisit his/her priorities, and keep in mind that selling could be an option sooner or later than you had previously envisaged. You should regularly consider whether your commercial objectives can best be met by continued ownership of your business or sale of part or all of your business. 

Capital Allowances Budget 2018 – Part 1

The 2018 Autumn Budget proposed some exciting changes year for Capital Allowances.

North Sea Oil & Gas: The Outlook for Deal Making

The ongoing recovery in the oil price and increasing pricing certainty continues to improve the North Sea Oil & Gas M&A landscape with activity led by the upstream E&P corporate and asset transactions. There are many notable examples, with Total’s acquisition of Maersk Oil being finalised this year and BP’s exchange of North Sea and Alaskan assets with ConocoPhillips and this appears to continue with the recent announcements from Total and Chevron to divest assets in the North Sea. Whilst both vendors have differing rationale behind their decisions to sell, there is no doubt that these proposed disposals could provide opportunities for international private equity firms who continue to build upon their recent market entries and expand their portfolios. 

When companies go bust, who gets what?

Insolvency in a process that the vast majority of business people will have little direct experience of – which is not bad of course. When a company does go into an insolvency process, the process by which the insolvency practitioner (“IP”) decides who gets what is laid out in legislation, and that order is one of the areas that I spend a lot of my time explaining to those affected by the insolvency.

The Brexit Breakfast Seminar

AAB would like to invite you to join us on Thursday 6th December, 7.30am - 9.30am at The AAB Aberdeen Office, Prime Four Business Park, Kingswells, AB15 8PU for our Brexit Breakfast Seminar.

Epayslips – Have you made the switch?

Technology. It seems to have taken over the world. The mobile phone has become such an integral part of our entire being, that many of us have forgotten life without it.

Don’t let VAT be a cost of doing business in the UK – 13th Directive Claims

One of the most common questions we are asked by our overseas clients when they are looking to do business in the UK is – “Can we recover the VAT we incur in the UK?” 

Addressing key risk areas on potential acquisitions

Potential acquisitions can offer both highly attractive opportunities and key risks that should be carefully considered from the outset, as addressing these key risks early is vital to successfully preserving and maintaining value post completion.

Planning ahead, while you can!

Making decisions on our finances and wellbeing is something most take for granted.  But what if you lose capacity to make these decisions?  Who will make them for you, and what impact could this have on your lifestyle?

AAB looks forward to an engaging evening at the Scottish Oil Club in London on 15 November

“Dilemmas and Opportunities: The Future of Oil and Gas Exploration”

The benefits of a proactive deal initiation approach

Deal initiation or ‘match making’ is not a new concept in corporate finance circles with some parties preferring to undertake off market transactions to avoid the competitive nature of the higher profile auction processes.  Naturally, as with any transaction, a focussed deal initiation approach can bring benefits to both buyers and sellers, ultimately the amount of time saved compared to a marketed approach is immeasurable for a number of reasons but often significantly less. 

E&P Private Equity Investments Abroad

AAB Directors Alasdair Green and Callum Gray, together with Opportune LLP Partner Josh Sherman, provide a detailed insight into trends in oil and gas private equity investments abroad for Oil & Gas Investor

The ever-expanding functionality of Xero - CIS

If you work in the construction industry you may find the daily/monthly administration side of CIS a burden.  You have to:

An overview of the Scottish Deals market

The Scottish deals market remains healthy with positive deal activity being reported in most industry sectors underpinned by stable market conditions in spite of the wider political uncertainty over Brexit. We continue to see good deal opportunities across the whole country with particularly healthy levels of activity in the technology, food & drink, construction, support services and leisure & retail sectors. Our deal flow across Scotland remains very strong having completed over 25 transactions in the first half of 2018.   

The Forecast Is Cloud With More Chance of Success

The change which has taken place in the world of accounting software over the last 10 years has been nothing if not seismic, as innovative cloud-based solutions have transformed how people work. It’s not just about the benefits of being able to work anywhere and on any device. There are literally hundreds of apps which, when linked with your accounting app, will revolutionise not just how information is collected and entered, but, maybe even more importantly, the insights which can be gained which then inform the decision making process.

MTD for VAT: Frequently Asked Questions

Making Tax Digital for VAT (MTDfVAT) is coming April 2019… less than 5 months away!  If you are not aware of MTDfVAT please let me provide a brief overview:

HMRC reach conclusion on 2016/17 tax errors – 30,000 individuals potentially affected

HMRC are to undertake a detailed review of around 30,000 Self Assessment tax returns submitted for the 2016/17 tax year and some individuals could find themselves with extra tax to pay.

Payroll Do’s and Dont's for Casual Workers

Have you, or do you ever, employ casual workers for a short period?

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