Suffolk Powabyke dealer threatened with closure due to tax bill

overlander

Esteemed Pedelecer
Apr 22, 2009
532
42
Yes its a shame but lets be honest if a business cannot pay £4000 i.e two electric bikes then its not really a viable business.
 

Alex728

Esteemed Pedelecer
Dec 16, 2008
1,109
-1
Ipswich
true, it does seems odd as the shops been around for some time and is well liked, it does make me think he may have been neglecting his accounts/administration as to be fair the amount of tax is usually pretty easy to calculate from the sales and profits of the business..

Also although HMRC automatically send a variety of scary letters they can in fact be suprisingly reasonable when business owners actually enter into dialogue with them (respecting the fact that they will have to pay some tax). My employers have had a variety of these things (sometimes sent due to computers at HMRC being overzealous, or even minor delays in bank transfers) but a single phone call often solves matters very quickly indeed.

It would be a pity to lose one of the rare e-bike dealers in Suffolk, (another one shut up their shop and went to breed cats!) but its surely obvious that in an economic depression sales of new goods wiil drop, also the cycling culture there is often a mixture of teenagers without cars and older retired people so that will be the customer segments his business competes for, I am not surprised repairs have become the bulk of his business..

I thought it worth flagging here as it shows the pressures the entire market is under - despite cycling actually becoming more popular here....
 
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overlander

Esteemed Pedelecer
Apr 22, 2009
532
42
Unfortunately this recession is just starting and due to incompetence and a head in the sand attitude from the previous government this is going to be one long drawn out affair. I think before this is over many businesses will go to the wall. As i said previously our bikes will become a target for theft so buy a good lock.