Ian Friend
- Position: Partner OCA
- Phone: +44 (0) 1753 551111
- Fax: +44 (0) 1753 550544
- Email: Ian.Friend@ouryclark.com
Another cost you might want to review is that of your insurances. Some policies are based upon the gross sales or turnover of the business or other financial data such as the cost of payroll etc. With your results coming under pressure, the financial numbers used to assess your insurance premiums may well have fallen and you may be able to negotiate lower premiums as a result.
Similarly, the cost of life protection insurance has fallen over the past 10 years and the simple re-broking of policies may reduce costs.
Some brokers may be happy to levy a fee rather than take a commission. This will reduce the amount of insurance premium tax payable.
Lastly, do you know what all those miscellaneous standing orders are for? Are they [...]
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