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The Accountants for Growth
All business should have a business plan, from the one-man band to the successful limited company. Once written, the plan should be referred to regularly and used as a tool to assess business performance.
You must keep records about the company itself, financial and accounting records. HM Revenue and Customs may check your records to make sure you’re paying the right amount of tax.
Old and slow moving stock can be a real problem for a business. It can tie up cash in the business and take up floor and window space that would be better employed showing off some new fresh items.
It makes sense therefore to look at ways of moving this stock on and turn it into cash which can then be used to buy faster selling lines.
Well the tax return season is over for another year and it always throws up some interesting cases.
Is there a better way of dealing with this?
Small and medium size companies have got used to filing abbreviated accounts for a number of years however these have been abolished for accounting periods commencing on or after 1 January 2016.
Registered to carry on audit work in the UK by the Institute of Chartered Accountants in England & Wales.
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any action.