Businesses Fear Effect of Public Sector Cuts on Turnover

Research by ICAEW has revealed that nearly half of businesses (45%) anticipate the public sector cuts will have a negative effect on their turnover in the next twelve months. Of those that directly supply the public sector, this rises to 68% of firms. Many will be looking at a variety of measures to help counteract the negative impact of cuts on their business. Michael Izza, ICAEW chief executive, said: “There has been an expectation that business will be able to ‘pick up the pieces’. This includes hiring those who have been made redundant in the public sector as well as providing the impetus to ensure that the UK economy returns to growth. What we are seeing is in fact companies being impacted by the cuts as well as all the other pressure points that currently exist.” The priv... »

From 1st April 2010, if you have an annual VAT exclusive turnover of £100,000 or more you will have to submit your VAT returns online

VAT is Moving Online

From 1st April 2010, if you have an annual VAT exclusive turnover of £100,000 or more you will have to submit your VAT returns online and pay your VAT electronically. Also, if you register for VAT from 1st April 2010 onwards, you’ll have to file online from the start, whatever your turnover. But don’t worry, nothing else has changed; it’s the same form and the process is secure. Doing your return online also helps reduce errors, provides automatic calculations and with an on-screen acknowledgment that it’s been received you don’t have to worry. What’s more, its available 24 hours a day, seven days a week, so you can do your return at a time that suits you. If you’re using HMRC Online Services for the first time, you will have to register for ... »

Online advertising key to boosting sales

Online advertising key to boosting sales

The Federation of Small Businesses (FSB) has urged more small firms to use online advertising to boost their sales during the recession. Their research showed that almost half of small firms with a significant increase in turnover since 2006 have advertised online. The survey highlighted that of those firms that increased their turnover by a fifth in the last two years, 43% had advertised online. However, of those whose turnover only increased by 5 to 10%, just 27% did. FSB national policy chairman John Walker said: “Despite the onset of an economic downturn, all small firms should look to the internet to maximise their sales and increase efficiency” FSB head of parliamentary affairs Stephen Alambritis added: “If businesses are worried about the expense, they should be aw... »