How do you classify a good customer for your business? A good customer will be different for every business. In retail a good customer will probably be one who returns time and time again because of what you sell, your prices, your customer service or just because they love your shop. If you are selling online […]
Archives for 2016
What do you know about Statutory Sick Pay?
Sick Pay is a statutory payment due to employees who meet certain criteria: Their period of sickness must last at least four consecutive days (including non working days) They must be earning at least £112 per week before tax They must have advised their employer of their sickness absence within the time frame set out […]
Are my Christmas party and gifts tax deductible?
If you are treating your employees to a Christmas party, Christmas lunch or dinner, or giving them a gift to show your appreciation you should be aware of how HMRC views the costs of your generosity. If you are having a Christmas party or going out for lunch or dinner HMRC will allow you to […]
Changes to the Flat Rate VAT Scheme
The Chancellor’s Autumn Statement announced a change to the Flat Rate VAT Scheme which many small businesses use to simplify their VAT record keeping. From April 2017 businesses who may have found it financially advantageous to use this scheme may find it will no longer be so. The HMRC website has not yet provided much […]
What would suffer in your business if you were out of action?
How would your business manage if you were suddenly out of action for a period of time? Have you thought what might happen to your business, your customers, your suppliers and your staff? A friend of mine has been taken seriously ill and is unable to think about, let alone do, any of the […]
How do you manage to collect unpaid debts?
Being in business is about selling a service or a product in order to make a profit. On paper it can look as though you are making a profit however your bank account could tell a very different story. When sales are invoiced they are recorded in your accounts as income but if your customers buy […]
When is a reasonable excuse not a reasonable excuse?
The Pensions Regulator has released the latest quarterly bulletin covering compliance and non-compliance with auto enrolment. An increasing number of small and micro employers are reaching their Staging Date and many are leaving it very late to set up a workplace pension. During the period July to September 2016 The Pensions Regulator issued £3,728 […]
Bookkeeping is just data entry isn’t it?
So many business owners think keeping their accounts or “doing the bookkeeping” is just entering data and therefore anyone can do it. But is it just data entry or is there more to it than meets the eye? Having been a bookkeeper for many years I know there are numerous business owners who think keeping their accounts is data […]
Training is so valuable
Why is training so valuable? We learn all the time while we go about our daily work and for us in particular we are constantly working with clients who have different types of business and different needs. Our responsibility to our clients is to know, as far as we can, the HMRC rules which could affect […]
Training is so valuable
Why is training so valuable? We learn all the time while we go about our daily work and for us in particular we are constantly working with clients who have different types of business and different needs. Our responsibility to our clients is to know, as far as we can, the HMRC rules which could affect […]