Forecourt Trader - 30 years at the heart of the fuel retailing community
Retail » Money talk

Money Talk: Brexit means business as usual... for now

It seems like a very long time since June 23. Yet as this is being written, the new Prime Minister is still making the last appointments of her new government team and everyone else is still grappling with the possible consequences of the referendum result. So it was quite interesting to have had a chance conversation with a petrol retailer client on the same subject just a few days ago.

Money Talk: Your car wash - dead space or profit centre?

Hundreds of forecourts have the same problem: a large and heavy piece of equipment taking up quite a lot of space in its own dedicated area which, although costly to install and maintain, has produced very decent profits for many years. But that was before a no-tech alternative sprang up causing the market for their particular service offering to collapse almost overnight. Today that once-expensive piece of equipment sits under-used (if used at all) and physically decaying.

Money Talk: Keep it simple and make sure you keep it separate

Some business operators do like to make life complicated. Not just for their accountants, but potentially for themselves. One way in particular is very common among small, owner-operated traders using the business as just another personal cash and bank account.

Money Talk: Paper still supports your accounting system

Whenever we meet someone about to go into business for themselves, eventually the conversation gets down to practical matters: things like business bank accounts, choice of book-keeping system, EFT terminals, etc. A few even ask how long they'll have to keep their 'records'... ]

Money Talk: Budget 2016 - not so sweet for all of you

Rather surprisingly, the Chancellor decided to leave Fuel Duty unchanged in his March 2016 Budget perhaps influenced by the recent upward creep in pump prices- largely due to the pound/dollar exchange rate or maybe he just decided to keep his powder dry and save that option for the future. Of course, that wasn't the only surprise in the Budget: most media coverage has focused on the proposed 'Sugar Tax' on soft drinks, which wasn't expected especially, perhaps, from this government.

Money Talk: The big question - will fuel duty rise in the Budget?

Many retailers will doubtless remember that increases in duty were once routine - in fact automatic at virtually every Budget. Between 1993 and 2000, the increases were explicitly intended to be significantly above general inflation, regardless of which government was in office.

Money Talk: Don't let tax years and accounting dates fox you

Having just passed the annual self-assessment tax return deadline, hopefully your own return was in by January 31. Of course, that particular submission related to your personal tax calculations for the tax year 2014/15. Currently we're in tax year 2015/16, which runs until April 5, 2016.

Money Talk: Business health is still all about the cash flow

It started as so many of these contacts do a call from someone who had originally spoken to us about his prospective business nearly a year earlier, but then had gone quiet. This call was slightly awkward for him he'd taken up a friend's offer to 'look after' his accounting and was now a little desperate.

Money Talk: Some things change, others never seem to

Whatever the eventual fall out from the VW emissions scandal, there is a feeling in the air that we might come to look on 2015 as representing the high water mark of diesel road fuel here, across Europe, and almost certainly in the US.

Money Talk: Forecourt hourly pay rates rise to £6.67

As regular readers will be aware, each autumn we look at the hourly pay rates of thousands of staff working at hundreds of forecourts around the country, to obtain a picture of real pay rates in the petrol retail industry.

My Account

You are not logged in.
  • Weekly
    Retail
  • Weekly
    wholesale
  • Daily
    Average
Weekly retail fuel prices: 20 January 2020
RegionDieselLPGSuper ULUL
East133.4167.40141.10128.52
East Midlands132.93141.67128.44
London133.0565.90142.23128.80
North East131.55139.57126.67
North West132.1066.90140.54127.58
Northern Ireland129.82134.61125.46
Scotland132.65139.08127.50
South East133.80141.93129.03
South West132.9567.90139.13128.12
Wales132.1064.90137.03127.13
West Midlands132.7866.57142.07128.26
Yorkshire & Humber131.9963.90141.14127.34

Most read

As Brexit day finally arrives at the end of January, are you expecting any negative impact on your forecourt business through leaving the EU?

Digital Edition