 As #TeamGB return triumphant from the Rio Olympics 2016 and the British media celebrate them lifting the nations pride and spirit this could be the right time to motivate more sales in your business.
Coupled with the warm summer weather and long periods of British sunshine, businesses can literally cash in on an increase in consumer confidence and spending in the economy. Thinking outside of the box, successful businesses have been promoting loyalty cards and coupons and vouchers to increase sales. How and why you may ask? Well read the short list below: 1. Coupons / Vouchers can have the effect of increasing your market and geographic catchment area. Some customers will travel far to redeem a valuable coupon or voucher.2. Coupons / Vouchers can encourage new customers to break the habit of only visiting your competitors and instead to come to you. Consumers can break normal shopping patterns to take advantage of a good offer. 3. Coupons / Vouchers can bring back old customers. Customers that were lured away by your competitors may start buying from you again if you give them a good enough reason.4. Coupon / Voucher marketing gives the seller an opportunity for additional profits by selling other full price items. If you see a special offer to invite a customer, this same customer may end up buying other goods that carry a much higher profit margin. 5. Coupons / Vouchers can increase footfall which can lead on to increase in sales, through good sales techniques or impulse buying. 6. A Coupons / Vouchers scheme is quantifiable and measurable to see its success. Simply count the number of coupons redeemed to work out the success. This valuable analysis will help in creating future offers to increase sales further. We recommend thinking about the points above to create coupons and vouchers in your own marketing campaigns to help increases sales in normally quiet period of the year. (Please be careful though not to infringe upon copyrights and trademarks belonging to others when making your vouchers and coupons.) By Anni Khan at Tax Affinity Accountants Tax Affinity Accountants are experts in Tax and Accountancy. Based in Worcester Park and Kingston upon Thames they are considered in the Industry to be expert accountants and advisors for small businesses. Helping and supporting business throughout the UK, they regularly help clients grow their business providing tailored advice. For more information visit www.taxaffinity.com. To read more interesting articles like this visit www.taxaffinity.com/blog. Please feel free to comment and share this with your friends.
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 We are often asked how to appeal HMRC penalties and if we could make an appeal for a client for charges and interest levied for both individuals and companies.
In recent times HMRC has become quicker and stricter when applying penalties, in a clear attempt to increase tax revenues. There are now new debt collection and management departments in HMRC that deal with this and their job is to notice something outstanding and write for payment and apply penalties. These debt collection and management departments often do not speak to the main tax departments and are there to only enforce a collection. However they are not like standard debt collection agencies by being more lenient. So when you call them and explain your circumstances more often than not they will allow you extra time to speak to the relevant tax department and resolve the issues before chasing you again. Obviously they best thing is to be up to date with everything you owe the tax authorities but sometimes genuine reasons hold a person back from doing this. If you have a clean record in the past of paying tax on time then they may cancel a penalty with just a warning. However if your history is patchy with late payments and previous fines the chances of success are much less likely, as HMRC staff assessing your appeal are given guidelines to punish repeat offenders and be lenient on first timers. At Tax Affinity Accountants are experts with tax and speaking with HMRC staff and can help you if you need help with your appeal. Feel free to contact us and we will be happy to help you. By Anni Khan at Tax Affinity Accountants Tax Affinity Accountants are experts in Tax and Accountancy. Based in Worcester Park and Kingston upon Thames they are considered in the Industry to be expert accountants and advisors for small businesses. Helping and supporting business throughout the UK, they regularly help clients with HMRC investigations and appeal any kind of tax penalty. For more information visit www.taxaffinity.com. To read more interesting articles like this visit www.taxaffinity.com/blog. Please feel free to comment and share this with your friends.  Since the Brexit vote, we have seen that a larger than usual number of enquiries about ensuring that an entrepreneur, doing business in the UK, needs to make sure they have updated their visa and rights to remain in the UK by the British Home Office.
Normally this involves the services of a solicitor to organise your paperwork or at the very least a good understanding of the Home Office rules for application if your doing it yourself. The solictor will often also ask you to provide a qualified accountants letter and financial evidence of the past 5 to 10 years of employed or self employed activity in the UK. With evidence showing how you have contributed to the British economy through your taxes and national insurance contributions (NI). If your employed this is through P60's, P45's and P11d's. And if your self employed this is in the form of Company Accounts, Corporation Tax Returns, Personal Tax Return's, SA302's (tax calculation) showing total income and tax and NI payable and a HMRC statement of account (like a bank statement showing payments made and balances due). Your accountant can provide the company accounts, SA302's and tax returns if required urgently. And copies of the HMRC headed statement of account and SA302's can be ordered from HMRC with a normal delay of 7 to 10 days. This information along with others required eg bank statements and ID documents etc can then be submitted with the application to the Home Office. Some types of visa's such as the entrepreneur visa require detailed business plans with the application and this is something we have a speciality in and can help create this to help your application. At Tax Affinity Accountants we have already helped many self employed businessmen and women with their successful applications. So if you feel you need help with any of these documents then feel free to contact us and we would be happy to help. By Anni Khan at Tax Affinity Accountants Tax Affinity Accountants are experts in Tax and Accountancy. Based in Worcester Park and Kingston upon Thames they are considered in the Industry to be expert accountants and advisors for small businesses. Helping and supporting business throughout the UK, they regularly help new and established businesses to succeed. For more information visit www.taxaffinity.com. To read more interesting articles like this visit www.taxaffinity.com/blog. Please feel free to comment and share this with your friends. |
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