Mobile phone traders
Discussion
Adam
Assuming that you're dealing in wholesale/trade you should be aware that the business works on incredibly tight margins - it is something that can work as a sole trader if you have the contacts but i haven't yet seen a larger company that makes a profit on less than £150m turnover (not saying it can't be done tho & I do help un-profitable businesses by trade!).
You should also be aware that you'll be watched like a hawk by HMCR due to carousel fraud and will have difficulty getting banking arrangements (even credit) due to same - let me know if you need help banking, i have re-banked one of these recently and know of only 1 major clearer that is accepting new business.
Sorry if teaching you to suck eggs - not clear how much you already know from your first post.
Assuming that you're dealing in wholesale/trade you should be aware that the business works on incredibly tight margins - it is something that can work as a sole trader if you have the contacts but i haven't yet seen a larger company that makes a profit on less than £150m turnover (not saying it can't be done tho & I do help un-profitable businesses by trade!).
You should also be aware that you'll be watched like a hawk by HMCR due to carousel fraud and will have difficulty getting banking arrangements (even credit) due to same - let me know if you need help banking, i have re-banked one of these recently and know of only 1 major clearer that is accepting new business.
Sorry if teaching you to suck eggs - not clear how much you already know from your first post.
Very true - the margins are tiny and the tax man checks out books with great care. However, the company is already making a small profit and we have recently been offered an opportunity which if we are able to make it work will be very nice indeed! I don't take care of the banking side as I have only just been asked to get involved but we seem to have everything in place. Company has been trading for some months and I have worked with the owners on a bunch of other things over the years.
I will ask them if they need to make any changes on the banking side and if they do I will definitely get in touch. Thanks for the advice - much appreciated. I am a huge fan of this forum precisely because of the response and advice one gets.
Cheers
A
I will ask them if they need to make any changes on the banking side and if they do I will definitely get in touch. Thanks for the advice - much appreciated. I am a huge fan of this forum precisely because of the response and advice one gets.
Cheers
A
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