IDENTIFYING INEFFICIENCIES IN A BUSINESS

Accountants, as a breed, are fans of efficiency. We tend to appreciate optimised systems and abhor waste, whether it’s time, effort or resources being frittered away.
The concept of efficiency as we know it today is a product of the industrial revolution. That’s when engineers and manufacturers became obsessed with squeezing out maximum profit by the smart use of new machinery and the automation of processes.

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RISK ASSESSMENT AND CONTINGENCY PLANNING

It has been a challenging and eventful three years for UK businesses with a series of high-profile incidents highlighting how situations can change suddenly and often without warning.
From the continued pressure of uncertainty relating to Brexit, terrorism, fire, extreme weather and cyber-attacks, how would your business cope if it was affected by something similar?

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Capital Allowances for Plant and Machinery

If there’s one thing that keeps us awake at night it’s the thought of how many British businesses are failing to claim capital allowances to which they are entitled – worth billions of pounds across the board, according to some estimates.

Capital allowances provide the mechanism for tax relief on certain types of capital expenditure (the purchase of assets such as office furniture, or equipment) essentially providing a deduction against profits. (more…)

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Company Cars

Despite year-on-year tax rises, company cars remain a popular benefit. While the tax cost of expensive high-emission cars can be eye-watering, by choosing carefully it’s possible to enjoy the convenience that comes with a company car for a relatively low tax cost. So, as the new tax year gathers steam, what’s changed for 2018/19?

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Clipping the wings of phoenix companies

Companies can fail for several reasons and, for the most part, these aren’t the result of wrongdoing by the directors. For this reason, it’s perfectly legal to start a new company after an old one has become insolvent.

However, there are a number of rules that surround carrying on a similar business through a new company after the original company has gone into insolvency. (more…)

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Tax and employee benefits

Most employers choose to recognise the ongoing commitment made by their members of staff by providing various benefits and rewards.

Whether that’s in the form of the Christmas party or it extends to benefits such as a cash bonus or flextime, it all helps to ensure employees feel valued and motivated. (more…)

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