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All the best,
The SK Accountants team
Thank you for getting in touch. A member from our friendly team will aim to get back to you shortly.
All the best,
The SK Accountants team
Thank you for getting in touch. A member from our friendly team will aim to get back to you shortly.
All the best,
The SK Accountants team
The cost-of-living crisis can be a challenging time for businesses, with many additional costs being added to business expenses.
As a result of this, many business owners are faced with difficulty including staffing costs and decisions such as whether to raise costs.
Energy, raw materials, and fuel have all been affected by inflation, while the overall cost-of-living crisis is putting pressure on some employers to pay more to help staff with their expenses and affecting consumer confidence.
Businesses should look at practical savings and consider if they are making efficient use of staff. You should also consider if you are paying for services, you no longer need and how you can cut costs.
Online accounting
Accounting and financial technology can give you instant information on sales, costs and products and allows cloud-based apps to reduce the time needed for vital but time-consuming tasks.
This can include invoicing systems that tell you what’s been paid and other apps that help you keep track of your cashflow.
Research your competitors
Check out the competition, both locally and nationally, to see what they are charging for similar products and services.
This can often depend on different areas of the country and levels of relative prosperity. Can less well-off consumers withstand price increases?
Make maximum use of your accountant
Accountants offer a wide range of services, including strategic advice and money-saving and revenue-boosting ideas.
Accountants can help with managing debt, addressing cashflow and advising on business strategy.
If you need advice on related matters, contact us today.
Small business confidence dips ahead of new customs controls coming into force
Four in 10 exporters have reported a fall in international sales since the end of the Brexit transition period, a major study has revealed. According to the tracker, four in 10 – around 41 per cent of traders – have reported a “drop off” in international sales in the three months to September 2021.
Business
HMRC asks sole traders to correctly report SEISS grants or “repay in full”
Sole traders who have not correctly reported their Self Employment Income Support Scheme (SEISS) grants may be forced to repay them in full, it has been warned.
Compliance
Small businesses call for Government support to tackle climate change
According to new research, many are addressing energy usage, increasing recycling and investing in microgeneration, but only a third of those have a formal plan to tackle climate change within their business.
Economy
Almost 800,000 tax scams reported to HMRC in past 12 months, figures reveal
Nearly 800,000 tax-related scams were reported to HM Revenue & Customs (HMRC) in the past 12 months, a major study has revealed. According to the report, HMRC responded to 797,010 referrals of suspicious contact from the public in the last year. Around 358,000 of these involved scams where taxpayers were offered bogus tax rebates.
Tax Planning