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Want to know what Making Tax Digital is all about? An introduction to Making Tax Digital

Want to know what Making Tax Digital is all about? An introduction to Making Tax Digital

The HMRC has announced that from the 1st April 2018, all UK businesses will be required to submit all of their financial records in a digital format to the HMRC. It’s important to note that a recognised and approved accounting software will need to be used to submit the information.

The hopes and dreams of the Government are that the new “Making Tax Digital Initiative” will not only make it easier and quicker for individuals and businesses to submit accurate financial data, but it will also provide a more efficient streamlined process that should save businesses time.

Want to know what Making Tax Digital is all about? An introduction to Making Tax Digital

Do you know how the changes to Making Tax Digital will affect you?

If you are a business in the UK or overseas with an annual turnover that is over the VAT threshold, you will be required you will need to by law to submit all of your finances in a digital format to the HMRC. No businesses are exempt from the new regulations.

For a UK registered business the current VAT registration threshold for VAT is £85,000 and the new MTD For VAT rules have been devised to make it easier for taxpayers to get their tax right. All relevant VAT return data should also be linked so that it is easier for transactions to be traced from their original source.

The Government believe that by having a more efficient streamlined process will help in providing real-time filing for all individual transactions submitted to the HMRC and improve and optimise VAT completion.

Are you ready?

If you aren’t ready then now is the time to invest in appropriate Making Tax Digital Software, its essential that you do so if your company turns over more than £85,000 and is based in the UK, now is the perfect time to invest in  the new initiative which is coming into force on the 1st April.

At the same time, the Government has advised that all businesses should

take the time to ensure that all accounting records are up to date and MTD compliant.

VAT policies and practices should also be up to date and all individuals handling financial processes within your business should be aware of the Making Tax Digital Initiative. … READ MORE ...

3 Reasons You Should Be Using Promotional Merchandise for Your Business

3 Reasons You Should Be Using Promotional Merchandise for Your Business

Branding is more important than ever these days thanks to the power of the Internet giving anyone and everyone the ability to increase the visibility of their business. This means that to stand out you have to present your business in a way that is both memorable, and likable. The good news is that by using promotional materials you can do both. Let’s take a look at three powerful reasons you should be using promotional materials for your business, online or off.

3 Reasons You Should Be Using Promotional Merchandise for Your Business

1. Turn Customers into Fans

In most cases promotional materials are given away for free. Depending on the circumstances, this can be a great way to make your customers love you and become hardcore fans of your business. This can be done in a variety of ways, from giving away t-shirts at special events, to packaging them with other items to be distributed when customers make a purchase. 

The big benefit here is that when a customer becomes a fan of your brand, they’ll purchase your products/services even when there are cheaper alternatives in many cases. They’ll also talk about your business with their friends, family, and coworkers, spreading the word without you having to do anything. This can significantly lower your CPA (cost per acquisition) and help boost your profit margins. 

2. Extremely Cheap Marketing 

Done correctly, using promotional materials can be the cheapest form of marketing available to you. For example, giving away office supplies with your brand’s logo and message on them can spread the word about your business without you having to do any additional work, or spend any additional capital. This method becomes even more powerful when you begin selling branded merchandise such as t-shirts, hats, and other items. At this point your fans are essentially paying you to do your marketing/branding for you. Just remember that it does take time and effort to get your business and brand to a level in which people are this passionate about it. 

3. Build Your Business on Reputation Alone 

If you don’t have the best product or service around, it isn’t a problem as long as you have very strong branding and marketing to make up for it. Think about McDonald’s, their food is fairly mediocre as far as fast food goes, but they’re an unstoppable force thanks to their aggressive branding and marketing campaigns. Using promotional merchandise online is a great way to beginning building up that loyalty and trust among your customer base. It also helps to spread the word to others you may never have reached as well. Done right, you can build your entire business on strong branding and marketing tactics.

Powerful Branding without the Price-tag

If you’re not using promotional merchandise to promote your business, you should be. The best thing is that these materials can be bought in bulk and can be customized to feature your company’s logo and message. As far as investments go, you can’t really top this one if you need a boost for your … READ MORE ...

How To Open A Successful Company 1

How To Open A Successful Company

Buy insurance:-

Make sure you have the right insurance for your company. This might differ according to the nature of company. If you work from home, make sure that your insurance includes the thefts or damages to the assets of the company as well as the responsibility for the damages related to it.

Fix the accounting books:-

Have all the money that goes in and goes out of the business.

How To Open A Successful Company

Choose the appropriate location:-

Decide a locality that suits the requirements of your 新加坡公司注册, one that offers a chance for expansion, the right level of capability and proximity for suppliers. It must also be accessible to customers.

Do not worry about an office:-

If you are not making a profit, do not be mortified to acquire a space to work, you can do it from home.

The patent can wait:-

Patents can cost a lot of money. Pay this amount when you are sure you have enough customers to settle the bills.

Be flexible:-

The chances are that your innovative thought has to be customized. Being capable to acclimatize and alter somewhat to suggest the customer somewhat you desire will decide whether you will thrive or not.

Share your ideas with friends and family:-

The closest people are the ones who will be most honest with you about your idea. Do not vacillate to look for their counsel and suggestions.

Ignore the negatives:-

There is a big difference between constructive criticism and someone saying quickly that your business will fail. The finest you can do is ignoring these communities.

Do not get mad:-

If your idea is rejected by clients or investors do not succumb to anger. Find out what they did not like, make adjustments and come back with them once you’ve changed what they wanted.

Deliver the product or fast service:-

Your A1 Business is a work in progress and if you launch a product or service quickly, you will be able to build a community of clients that can provide you with valuable feedback that will help you improve your offer.

Offers new products or services:-

If you already have clients make sure you take care of them by giving those new products or services.

Be patient:-

At all times carry in brain that victory will not occur immediately after A1 business registration in Singapore. It’s going to take a little time prior to you triumph somewhat.

Give more than what they ask at the beginning:-

Once you have a new client make sure you go further at least the first month. You will have that customer hooked.

Post to your blog all the time:-

Do not be ashamed to share your triumphs and struggles. Clients will enjoy your honesty.

Avoid fights with partners:-

 If you have disagreements, fix the problems as soon as possible. Fights can distract them from doing things right in the business.

Do not worry about losing a percentage of the company:-

 An investor has acquired an action from your company. … READ MORE ...

Three Ways Of Finding A Reputable Domain Registrar

Three Ways Of Finding A Reputable Domain Registrar

The idea of having a site with yourbusinessname.com or a variation of the same is exciting for any brand. It is a testament that you have made your mark, not just on the internet, but the world. While this idea and the results are often exciting times, having knowing how to settle for the right domain company is paramount. We’ll look at the aspects that you should be aware of to avoid surprises during the journey to getting your domain name.

1. Read the fine print

Companies draft agreements that will protect them from any form of legal action. In the same way, before committing to a purchase, you want to ensure that you have critically read everything that pertains to pricing. Getting excited when you get a domain name that is priced cheaply should be a red flag. Once you commit, you will find that you’re paying for hidden charges, including high renewal rates at the risk of having your domain name taken away or hard selling things that you don’t technically need. The saying holds in business; if the deal is too good, you’ll still end up paying for it, somehow.

2. Ownership and privacy

Part of reading the fine print includes finding out who owns the domain. The WHOIS directory holds public records. You should, therefore, ensure that you check whose information is listed as some companies retain ownership without your knowledge even after purchasing the domain. In the same way, if you’re like most people who buy domains, you don’t want to have your personal information out in the open. You don’t want everyone knowing that for whatever reason, that you’re a non lawyer notary public individual wishing to open their private practice. That also includes selling your data to third-parties for various ends. Domain registrars are aware of this preference, and because asking for privacy is something that’s expected, opt for entities that offer privacy at no additional cost.

3. Available information online

Having all information about terms and conditions and privacy are an indication that a domain registrar is transparent. You want to avoid a situation where you have to call a company to send information as to what the requirements to make the purchase. It is often an indication that they are hiding something. Don’t interact with companies that almost bully you to make the initial commitment, e.g. filling a form with your contact details, before they send you the information you need to make an informed decision. It is often an indication you’re dealing with a company with hidden charges that will surprise you later.… READ MORE ...

How Packaging Can Save Your Business From Disaster

How Packaging Can Save Your Business From Disaster

How Packaging Can Save Your Business From Disaster

Image: Unsplash

Whatever you need packaging for, your items need to be well protected. This should go without saying, but mistakes can be made, and often happen. This post, courtesy of the packaging experts at Kendon Packaging, will explain why packaging, protective and otherwise, is the most important aspect of any logistical or delivery operation.

It’ll avoid damaging your bottom line

If a product reaches a consumer in a poor state, then the seller is typically liable to replace the product. Doing this over and over again due to a poor packaging strategy will damage your bottom line and suck up any profits you may be making. Even a thin layer of bubble wrap or a few ‘fragile’ stickers can help avoid this, so this extra expense should be seen as an essential to avoid embarrassing product replacements.

It’ll help your reputation

While you can’t totally avoid damage to your products while they’re being sent – thanks to the vagaries of the postal and courier system – you can help prevent needless damage on your own end.

If stories of your damaged products become the norm, your company will begin to garner a negative reputation and you’ll lose sales – an existential threat to the future of your business.

Being dependable is more and more important in today’s economy, as a huge percentage of shopping is now done online – and today’s consumer wants their goods delivered promptly and safely, especially during a high-pressure sales season such as Christmas.

It can inspire brand loyalty

Moving away from protective packaging, the overall aesthetic and branding choices you make for your packaging can make the difference between an increased pool of brand adherents and a lack of interest in your product. Cast an eye over what your competitors are doing, packaging wise, and try to carve out a niche that’ll help your brand stand out.

Whether it’s a brightly-coloured product aimed at kids or a more classily packaged item aimed at well-off adults, your niche needs to become your own.

It can boost your eco-credentials

It’s no secret that the packaging industry is leaning towards a more eco-friendly ethos, thanks to public pressure derived from the sorry state of the world’s oceans. Many leading brands such as Coca-Cola are starting, albeit slowly, a process in which they change what materials they use in their production and distribution process.

Making a switch to recycled packaging will stand you in good stead, as the global switch to more sustainable methods of consumption gathers pace. Eco-conscious consumers will be much more likely to buy your product if your packaging isn’t harmful, and if and when unrecyclable materials are banned, you’ll be ahead of the game.

How Packaging Can Save Your Business From Disaster

Image: Pixabay

They say that you shouldn’t judge a book by its cover, but many people do just that with products, simply based on their packaging. If yours is as good as it possibly can be when combined with the correct usage of protective products such as void fill … READ MORE ...

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