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Equestrian

If you run a business involving horses, you’re not alone. Across the UK, there are around 8,000 equine enterprises, directly and indirectly employing an estimated 250,000 people.

But even though you are part of a vibrant, multi-billion pound industry, is it hard to find the professional advice you need, from people who understand the way your business works?

Fawcetts are different. We’ve been looking after the financial interests of rural and equine enterprises for many years, so the tax and business advice we offer is based on years of experience in helping businesses like yours to achieve their maximum potential.

We understand the particular pressures facing equine businesses, and can advise you on the most appropriate steps to meet these challenges.

Our team will take time to get to know and understand you and your business and advise you on all the financial implications of running an equine business, including:

  • business start-ups
  • choosing the right business structure
  • business acquisitions
  • tax-efficient operations
  • tax allowances and reliefs
  • specialist VAT advice
  • succession planning.

By working with you to establish where you are now, and where you want to be in the future, we can help you develop strategies to develop, diversify or expand to achieve your goals. We can also help your business to run more smoothly with support services including payroll and accounts.

Whether you work in equine tourism, run a livery stables, stud farm or riding school or work as a trainer, we will tailor our advice and services to meet your needs.

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Latest News

Debt recovery costs small businesses an average of £9,000

The cash flow difficulties that late payments cause small businesses are well known. However, the cost of recovering late payments is less well publicised, despite being a major and growing expense – coming in at around £9,000 last year for an average business.

Research by Bacs Payment Schemes found that the cost of recovering late payments has increased considerably in recent months. Collecting money owed to them collectively cost small businesses £6.7 billion in 2018, having risen from £2.6 billion in 2017. The figures comprise costs such as staff time and interest on borrowing taken out to make up for the shortfall caused by late payments.

Small businesses’ efforts to tackle the problem could be beginning to pay off – with the total value of late payments falling from £14 billion in 2017 to £13 billion in 2018.

Paul Horlock, Chief Executive of Pay.UK of which Bacs is a part, said: “When smaller companies do well, so does UK plc; as the backbone of the whole economy, the significance of SMEs cannot be overstated.”

Link: UK small businesses face average £9,000 bill to recover late payments

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