Client Portal
What do we mean by profit?
When most business owners refer to business profits, they are likely to mean the difference between sales and costs, and more concisely, that sales exceed costs. However, the word “profits” can prove to be a moveable feast as HMRC, banks and traders will...
To register or not to register
In the recent Spring Budget, the VAT registration threshold was raised to £90,000 (previously £85,000) which means that smaller businesses that did not want to register for VAT, now have an additional £5,000 of turnover they can make each year...
We are unpaid tax collectors
Clients often refer to the VAT added to supplier invoices as if it were a cost to their business regardless of their VAT position. This is true if you are not registered for VAT, you do not have to add VAT to your sales and you cannot recover any VAT you pay on...
Time to rethink the credit you offer your customers
Most business owners are driven by sales targets and to meet these targets they may be tempted to offer extended payment terms. For example, if your business grants a customer time to pay – say 60 days – after the services or goods supplied have been...