Michael Reid, managing partner at Meston Reid & Co, offers advice to individuals struggling with personal debt. My recent article regarding personal financial challenges provoked a certain amount of feedback because many individuals are struggling to pay their bills and have a concern that their
Meston Reid & Co
Michael Reid discusses the available options a director should consider when a company is facing insolvency to ensure they act in the best interest of all stakeholders. If all attempts to avoid formal insolvency have been exhausted and the company is about to fold, directors might be forgiven for ha
Michael Reid, managing partner, Meston Reid & Co, discusses the ways to deal with an overdrawn director's loan account in the case of insolvency. As the number of formal insolvencies begins to increase and there are signs that recessionary pressures in 2023 will witness a further wave of company
Michael Reid, managing partner, Meston Reid & Co, offers advice for individuals looking to liquidate their company. One reads plenty media comment about an increase in both corporate and personal financial failure due to various factors and certainly, although there is some government assistance
Michael Reid, managing partner at Meston Reid & Co, discusses the role of liquidators in the fight against fraud. It is often said that challenging economic conditions create financial uncertainty and result in an increase in fraudulent activity by the unscrupulous.
Alan Stewart, tax partner at Aberdeen-based Meston Reid & Co, gives insight on succession planning for farmers and their estates. One of the biggest concerns that any farmer could eventually face is when they decide to pass on their farm to the next generation.
Michael Reid, managing partner at Meston Reid & Co, highlights the need for well managed accounts. There has been a marked increase over the last few months in those seeking independent and experienced advice about the financial condition of their business because the overt signs are that the bu
Chartered accountancy firm Meston Reid & Co is continuing to support the career development of young people by taking on three graduate trainees, a graduate apprentice and a placement student. Its three new trainees – James Chalmers, Ethan Booth and Jessica Stephen – have all recentl
Aberdeen FC legend Willie Miller will be helping two Granite City charities to net a cash boost at a special fundraising dinner next month held by chartered accountancy practice Meston Reid & Co. The former Dons captain – now a sought-after football pundit – will be guest speake
Michael Reid, managing partner at Meston Reid & Co, discusses how company directors should act in moments of financial difficulty and what considerations they should have. When consulting with a director about company matters, it is quite common for words such as “me” and “my b
Michael Reid, managing partner, Meston Reid & Co, warns businesses to avoid using misleading advertisements. The Committee of Advertising Practice (CAP), the organisation that writes the advertising rules which are enforced by the Advertising Standards Authority, has issued an Enforcement Notic
Michael Reid, managing partner at Meston Reid & Co, passes on advice on what to look for when things are not going well in business. Whilst it is easy to say that the lack of cash to finance ongoing trading is the main reason given for many business failures, a number of operational aspects begi
Michael Reid writes about the financial and legal considerations of bankruptcy in regards to losing one's house. He outlines different possible scenarios and factors to keep in mind. Other than writing about the current Russian incursion into Ukraine, current media attention tends to be focused upon
Michael Reid, managing partner at Aberdeen-based chartered accountancy practice Meston Reid & Co, discusses the utilisation of bounce-back-loans for unintended purposes. Much has been reported in the media over the past few months about a company obtaining a bounce-back loan and the directors no
Michael Reid, managing partner of Meston Reid & Co, discusses the issues surrounding fraud. It is often said that desperate times lead to desperate measures and in times of financial hardship, there always seem to be plenty people who will take advantage of a situation to the detriment of others