Manage
The ‘Manage’ section is here to help you deliver on your strategy, whether that’s streamlining, restructuring or keeping productivity high in the face of change.
The UK Accounting Standards Board, as part of its
strategy to converge with International Financial
Reporting Standards, has proposed the International
Financial Reporting Standard for small and
medium-sized entities as the foundation for replacing
UK GAAP.
From 1 April 2011, all company tax returns must be filed online. The new HMRC rules shouldn’t really come as a surprise to anyone. Living as we do in the age of e-government, the move from optional to mandatory is a natural step.
Rather than allow extra time, HMRC is increasingly likely to blow the final whistle on cash-strapped businesses, which could have a significant impact on lenders.
Creditor leniency has provided a lifeline for many struggling businesses, but as Direction explains, mounting debts could lead to a rise in both insolvencies and stress as the recovery kicks in.
- Fine tuning
In a recession, cash is king. All the more reason to make sure that your company is taking proactive measures to avoid paying more tax than is necessary.
- Review your people costs
Employment costs need to be kept under review but as the recession deepens, the need to minimise costs must be balanced against the need to retain good staff to pave the way for recovery.
- Don't keep it to yourself
Communication is the key to managing expectations and maintaining a good relationship with your bank, but in situations where funding providers are less supportive we can help.
- Fresh-air invoicing becoming endemic during recession
Frauds are less likely to be discovered when there is lots of money flowing around the financial system, as it is simpler to move things around and ensure that tracks are covered.
- Why cash remains king
The current global financial crisis has put the focus firmly back on good working capital practices that often get forgotten in the heady days of plenty.
A review of its company car fuel policy enables fast-growing Volkswagen dealership to make a six-figure saving. Find out how we did it.
By undertaking a capital allowance review of a warehousing and logistics company, we successfully obtained a £94,000 refund from HMRC.