Your accountant will often produce a set of accounts that include a balance sheet. But what exactly is this? It is a common misconception that the profit is the only factor you need to worry about. Actually the balance sheet is very important. It provides a summarised snapshot of the business assets and liabilities at…
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The taxman joined twitter just before xmas and I’d encourage fellow tweeters, whether taxpayers or accountants, to follow twitter.com/hmrcgovuk (and by all means follow @TheTaxBuzz too!) HMRC’s twitter policy statement says that if you follow this account, you can expect 1-2 tweets
After telling clients and contacts to go and join the Federation of Small Businesses (FSB), I have finally got around to joining this myself. The Federation started in 1974 as a lobbying group that protects the interests of small business owners as well as the self-employed. It now has over 213,000 members
So, you have decided to offer credit. What next? It is stating the obvious but it is important to know your customer to do an adequate risk assessment, ensure your invoices are correctly issued and ultimately know who to take legal action against if it all goes horribly wrong! Much of the information required can be obtained by using a…
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Here is my video presentation of a 4sight that I did at 4Networking Taunton. It highlights some of the issues that can arise in a small business and gives some tactics that companies can use to
Have you heard of the Wiltshire Business Club? Back in 2009 when PAH Accounting was first set up I needed a way to reach out to new contacts. I was already a keen networker but found it limited to breakfast meetings. Therefore I tried to join a certain evening networking group; however, I couldn’t get…
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If you run a small business which operates from a single premises you could be eligible for substantial rate relief, thanks to a recent government announcement. The amount of relief is dependent on rateable value. As of 1st October, traders operating from a single premises will receive 100% rate relief on properties up to a rateable value…
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As many people will no doubt be aware, HM Revenue and Customs have issued a notice that they are going to be making claims for under (and over) paid tax due to an error in the PAYE system. A further blog is to be issued regarding this; however, I felt it prudent to give a warning of the scams that…
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Are you ready for the pension reforms coming in 2012? As an employer are you in charge of your company’s destiny or will you be complying with the new regulations by default? All employers in the UK, other than single-person companies, will need to take action to comply with their new responsibilities under pension reform. Employers…
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