Monthly Archives: January 2015

The only good thing…….

The only good thing about the current VAT rate of 20% is that it is easy to work out - just divide the total by 6 to find out the amount of VAT.  Simple as that! There are several different VAT schemes available.  If you would like us to check that you are using the one best...
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Moving with the big guys!

It seems that even small and micro businesses will be required to change the names of our financial reports in the not too distant future. Here's how it goes: Profit and Loss Account - STATEMENT OF COMPREHENSIVE INCOME Balance Sheet - STATEMENT OF FINANCIAL POSITION Fixed Assets - NON CURRENT ASSET Long Term Liabilities - NON CURRENT LIABILITIES Interesting...
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Turnover

  It's great to have a good turnover and watch it increase as your business grows. But is high turnover essential? At a breakfast meeting recently a colleague said to me - always remember TPC.  Now to be honest, I hadn't a clue what he was talking about, but when he explained it got me thinking. Turnover is Vanity Profit is...
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Cloud based accounting software?

There have been a flood of new on-line accounting software products in the last few years to cover micro businesses right up to fairly large ones. Some of these are very limited but suit businesses that want basic cash flow without financial reports.  Others are very comprehensive and will produce very detailed management information, whilst some will...
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