Welcome to our latest e-newsletter and thanks for all your encouraging comments.
We really are living in interesting times and it is wonderful to hear how positive you are all remaining despite the current climate. We’re feeling upbeat about the dental profession too but like you, we’re not getting complacent. None of us can afford to sit on our laurels. Without doubt there will be challenges ahead and the best way to confront them is head on and with our eyes wide open.
While many things are beyond our control it is vital that we manage well, those things that are within our sphere of influence. Keeping costs under control, making the most of available revenue streams and identifying opportunities that will derive benefit are all activities that will help us successfully steer our way through. And of course there is the power of team work – if you need advice or assistance, give us a call, we’re here to support you.
Keep feeding us your anecdotes and titbits, and if you think your colleagues would be interested in receiving our e-newsletter, let us know and we'll make sure they’re added to our mailing list.
John Baker of Vector Finance passed by our office recently and opened our eyes to the potential difficulties of dentists raising finance for re-equipping surgeries, purchasing equipment etc. This is a very recent phenomenon and reflects the banks’ unwillingness to lend money on an unsecured basis to anybody unless they’ve passed more vetting procedures than Radio 2’s latest broadcasting guidelines.
John gave us some great tips to pass on that could help you gain access to the best deals:
- Ensure your latest accounts are fully signed off – draft accounts are no longer sufficient.
- Keep accurate and up-to-date management accounts.
- Provide the lender with full details of every debt. Forgetting just one tiny loan will raise the bank’s suspicions.
- Have invoices or order details available to show that the purpose of the borrowing is genuine.
And John’s number one tip:
- Never miss a domestic mortgage payment. Defaulting on your most important loan will give you the highest rating of negativity and dramatically reduce your chances of raising finance.
Our advice is to talk to an expert like John who will work with you, in conjunction with your accountant, to obtain the best, properly structured deal.
Dan was a single guy living at home with his father and working in the family business when one day he discovered he would inherit a fortune when his sickly father died. 'What I need is a wife to share my fortune,' he thought.
Women are so much better at financial planning than men.
Keep alert!
'Watch out for scam emails purporting to come from HM Revenue & Customs (HMRC) offering a 'tax refund' and asking for credit details', warns the Institute of Chartered Accountants in England and Wales. Although the 'tax refund' document looks very convincing, HMRC never asks for this information.
'Heritage
Financial Advisers Ltd’ is an appointed representative of First Financial Advisers Ltd which is authorised and regulated by the Financial Services Authority.
Heritage Financial Advisers Ltd’s Registered Office: Swatton Barn, Badbury,