A profit and loss, also called a P&L, report is an important financial statement for every business. In summary profit and loss reports detail the company’s financial performance during any given period. It is a statement of the income and expenses, normally divided into categories, that when considered in conjunction with one another, explains how […]
Are your credit terms stopping you chasing outstanding sales invoices? It may seem obvious to reiterate the importance of chasing outstanding sales invoices, but how many companies can say, hand on heart, that they do chase them religiously and how many businesses can claim that they get 100% of invoices settled within their normal credit […]
Last month we wrote about the lost decade – the ten years since the financial crash of 2008 – and having discussed this theory in meetings with a range of SMEs it feels like the side effect of the lost decade is a numbness to economic uncertainty. That is not to say that businesses are […]
We are seeking an apprentice accountant to join our team and support our growing client base. Established in 1967, we specialise in providing accounting advice and business support to start-ups, sole traders, charities, partnerships and Limited companies. From our offices on the edge of Chichester City Centre we maintain close working relationships with all our […]
Offering employees a small benefit or treat is a method employers use to boost productivity and reward the hard work and commitment of their staff. But, what happens when these small gestures of goodwill start to become unwanted additional tax burdens to the employee? We explore the new trivial benefit tax exemption. Employers will be […]
O’Hagan’s Sausages has been established for 25 years and serves award winning sausages which are handcrafted on a daily basis using only the finest ingredients. The company prides itself on having pioneered the sausage revival in the UK during the 1980’s, leading to significant improvements within the industry. Founder Bill O’Hagan opened the company’s first […]
The VAT Flat Rate scheme can be extremely helpful for businesses with a turnover under £150,000. Moreover, it’s possible to actually generate profit out of the scheme if the flat rate percentage applicable to your sector is particularly favourable. For example, a journalist that pays 12.5% of gross sales as VAT each quarter, doesn’t have […]
Currently, there is a rumour spreading that it’s possible to backdate a dividend to avoid paying the dividend tax that applies from 6 April 2016. Unfortunately, we can confirm this is not true, a dividend simply cannot be backdated. Under current company law the dividend proposal must be voted on by the company’s directors. The […]
Whilst client feedback and timely settlement of our fee invoices is (for the team here) sufficient validation that we continue to meet the needs of our clients and provide a good service at a fair price; you will be pleased to know that as ICAEW (Institute of Chartered Accountants in England and Wales) members we […]
Following the news last month of Jodie’s departure and due to continued growth, we are looking for two new members of the Evans Weir team. If you know of anyone that might fit the bill and would complement our team, please point them in the direction of the job adverts here. AAT QUALIFIED ACCOUNTANT OR […]
As of 1st January 2015, a new regulation has come into place where VAT on digital products sold in the EU is chargeable in the place of purchase rather than the place of supply. VAT Mini One Stop Shop (MOSS) has been introduced to stop large corporations diverting sales through low-VAT countries. However, regardless of […]
The auto-enrolment staging date is set to come into effect in the following months and we would like to take the time to remind you that you should be fully aware of when your staging date is as well as the effect this will have on your business. Ensuring that the auto-enrolment procedure is adhered […]