Brexit and VAT MOSS (Mini One Stop Shop) Scheme

Despite the further delay to Brexit, B2C suppliers of electronically supplied digital services still need to be aware of rules relating to the VAT MOSS (Mini One Stop Shop) scheme. As it currently stands, if we leave the EU on 31stJanuary without a deal, HMRC’s advice is that UK businesses will no longer be able to use the UK’s VAT MOSS service to declare the sale of digital services.

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Debt Recovery and Cash Flow Management

As well as winning new business, cash flow should be the top priority for solicitors. Effective cash flow management is the foundation of any successful practice. As they say, “cash is king” and never has this been more relevant than in today’s volatile economic climate.

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Marginal Gains – Make The Difference

An idea brought to prominence by Sir David Brailsford, Team Sky and British Cycling. This attention to small details can have a significant impact on all aspects of sport, business and life generally. 

Here are a few ideas, from our experience, that can help you get started on creating those marginal gains:

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A Day in the Life of the Admin Team

What is Admin? Well that is a very good question, it is a variety of things – some expected, some unexpected – but administration is a key function of all businesses. With all the best will in the world your day is often not as you expect it to be when you first arrive at your desk, open the blinds and settle down with a nice cup of coffee, but this could not be more true than for our Admin Team. The best asset you can have in your Admin Team is flexibility. Here at Charnwood Accountants our Admin Team don’t dictate what the day will bring, but we give every task our best with a “can do” attitude and a smile.

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Cycle to Work Scheme

In recent years, there has been a positive focus on health and wellbeing for employees and within the workplace. At Charnwood Accountants, one such initiative that we have introduced for our staff, is the cycle to work scheme. 

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Calling all Business Owners – Do you know your exit options?

Many business owners say their business is their pension, but what does that actually mean? In order for it to be a viable pension it needs to generate you an income or a lump of capital in some way and, ideally, without you having to drive it like you do now otherwise that is a job, not a pension!

When the time comes, and you are ready to handover or end your time with your business, planning well in advance is vital to ensure a smooth exit. Thankfully for business owners there are many options available, the sooner you begin discussions and consider these options for exit the better for you and your business.  

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Keep your business safe from fraud!

Fraud! Protection against fraudsters can often seem daunting and expensive, the key is to remain vigilant and be prepared to take action to protect your business. Criminals use a variety of tools and techniques, with some of the most common ways businesses are affected through minor changes in communication. If there is any communication or transaction that you are unsure of do not move forwards until you have discussed it with your senior management team. 

Fraud can come from anywhere; suppliers, staff, customers and third parties. Below we have detailed three of the most prominent areas to be aware of and how to stay safe.

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The (Tax Saving) Power of Electric Cars

Company cars have become less attractive to businesses over recent years primarily due to the increasing Government taxes. However, looking to the future of both vehicles and tax this could become a more beneficial option for your business…if you’re willing to think electric. 

From 2020 it may be more cost effective for businesses to offer a company car, if they are electric. Aside from the benefits in terms of capital allowances, from January 2020, the cost of having an electric car to the employee or directors are greatly reduced.

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