Invoice Finance - Terms Explained (Part 1)

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Both Confidential Invoice Finance and Invoice Factoring contracts can have many terms that may be unfmailiar to you. At Gordon Ferguson we try to explain the contract to you in a more simple and meaningfull way. Below are a list of terms that you may come across and there definitions:

Advance/Prepayment/Initial Percentage (IP) - The initial amount payable by the invoice financier to the client against the debt.

Putting family on the payroll?

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One of our clients wanted to put his teenage son on the company payroll to help him with his finances, but was worried what HMRC would say about this. Can his company claim a tax deduction for his son’s wages?