Employing a financial director can be revolutionary for a business, but it’ll also normally come with a big financial cost too. However, there is an alternative. The job of financial director is much more than simply ‘bean counting’ or ‘producing management accounts’ these days. Financial directors are members of a senior executive team with responsibility for … Continue Reading
Reduction in VAT from 15th July for the tourism and hospitality industries
Reduction in VAT
Is a VAT reduction on the horizon? (Updated – yes was the answer!)
You may have seen recently that a several EU countries have reduced VAT rates in an attempt to stimulate their economies. The theory is that if VAT is reduced, prices should fall which will encourage consumers to spend more.
VAT – Should you charge VAT on things you’ve bought on behalf of your customer?
Quite often in business we will buy something on our customers behalf. E.g. A plumber may buy a radiator for their customer. A solicitor may pay land registry fees for their client. But should you also charge VAT on these items when you eventually invoice you customer? The problem from the customers point of view, … Continue Reading
How do you calculate holiday pay for workers who are not on fixed hours?
The majority of workers in the UK are full-time on fixed hours with fixed pay. These workers are typically on a fixed monthly salary, so if they take a week’s holiday. They will normally receive the same pay at the end of the month. As they would normally receive. However, it’s not always this straight … Continue Reading
In business? Here’s how to automate everyday accounting tasks
If you’re in business you probably already have a thousand-and-one things to think about even before you get to all those financial tasks like invoicing, reconciling payments, managing cash-flow, following up unpaid invoices, etc. So, wouldn’t it be nice if you could automatically automate a lot of these and access everything from your phone, tablet … Continue Reading
Social Distancing – What are the current rules at work?
The Health and Safety Executive (HSE) UK is providing advice and information about social distancing. In-work activities, and keeping businesses open during covid-19. The guidelines are for keeping workers safe. It covers things such as social distancing measures, staggering shifts, providing additional hand-washing facilities and how to talk with workers about working safely. HSE is … Continue Reading
Organisations given protection from landlords aggressive debt recovery tactics
,In order to help protect them from aggressive rent collections or unfair price hikes, High Street shops and other bricks and mortar organisations under strain during the current lock-down will be protected and rather asked to simply pay what they can as outlined in a recent government statement “The majority of landlords and tenants are … Continue Reading
Why is my Profit different to my Cashflow?
What is the difference between profit and cashflow? The income after all expenses, is your profit. Cashflow is the amount of available cash within a business at any point in time. It’s to meet everyday expenses as a result of the inflows and outflows of money. A question I am frequently asked by clients is … Continue Reading
Business support in Sheffield during Covid-19 Lockdown
Business support grants There are 3 business support grants available for small businesses in Sheffield and we can help. Firstly: £10,000 for businesses in receipt of Small Business Rates Relief (SBRR) or Rural Rates Relief £10,000 for retail, hospitality or leisure businesses with a rateable value of £15,000 or less £25,000 for retail, hospitality and leisure businesses … Continue Reading
