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Sun, sea, sand…and work
Whether the Summer represents a busy time for your business, or alternatively offers a chance to reflect and make plans for the future, here we offer some Summer tips on how your business can make the best use of this period - and help to make this year the most successful yet.
Could international trading be the next step for your business? The new VAT Mini One Stop Shop (MOSS) makes providing digital services throughout Europe a much more streamlined process from a tax point of view.
A wider scope means a wider potential customer base. However, as with most aspects of business, proper research is necessary before you start jet-setting.
Buckets and spades
Is now the time to think about renovating your business premises? With a number of employees on holiday it could be the ideal moment to make those vital changes without disturbing the workforce.
Don’t forget that claiming relief on the cost of refurbishment can be a very effective way to lower your tax bill.
Venturing off the beaten track
Smaller businesses often have the potential to adapt more readily to their customers’ needs. If you have additional time on your hands, consider conducting customer surveys and market research - this may be the time for that vital product launch to boost your Summer figures.
Cross-selling existing products could also improve slow sales figures without the need for extensive innovation. Also take time to consider what other demographics your services could appeal to.
An insurance policy
You wouldn’t think of going on holiday without an appropriate travel insurance policy. In a similar way, you can help to protect your business through regular analysis and effective forward planning.
Taking the time now to analyse your business’s performance and to put in place strategies for the future will help your business to thrive.
Keeping in touch
Modern technology and the growing trend towards achieving a work-life balance mean businesses with a well-known flexible working policy are increasingly likely to attract the best talent. Even when you’re out of the office it doesn’t mean you have to be out of the loop.
Laptops, tablets and mobile devices could be your key to effective management, and an effective team, wherever you are in the world. Just remember to switch off now and again!
If you are facing a gap in the workforce, then hiring a student or intern during the Summer period may allow you to tackle essential projects, or those which may not otherwise have been priorities. It will be valuable experience for them, and could be a source of innovation for you.
The best young talent will be eager to make headway into the business world, with possible future benefits for your team.
Contact us for the very best accountancy services and help for your specific circumstances.
- June 2015: Pensions auto-enrolment: are you up-to-date?
- May 2015: Claiming tax relief on refurbishment
- April 2015: New tax year, new rules: changes to business and personal tax
- March 2015: The new Marriage Allowance
- February 2015: Saving tax before the 5 April year end
- January 2015: VAT for digital business
- December 2014: Stamp duty reforms and business rates feature in pre-Election Autumn Statement
- November 2014: Saving tax on seasonal gifts
- October 2014: Social investment tax relief - could you and your community benefit?
- September 2014: Flexible Working Rights
- August 2014: Tax breaks for charitable giving
- July 2014: The sun is shining: let your business grow
- June 2014: Claiming the new NICs Employment Allowance
- May 2014: Tax-efficient estate planning
- April 2014: The New ISA
- March 2014: 2014 Budget Round-up
- February 2014: Could you save tax ahead of the year end?
- January 2014: Contingency planning: is your business prepared?
- December 2013: Seasonal tax advice for your business
- November 2013: Expansion - is your business ready?
- October 2013: Is your business adequately insured?
- September 2013: Charities update: some recent changes
- August 2103: The new flat-rate state pension: winners and losers
- July 2013: An inspector calls… coping with an HMRC investigation
- June 2013: Raising finance for your business
- May 2013: Ten top tips for reducing your tax bill
- April 2013: The new pension auto-enrolment scheme
- April 2013: The new cash basis: 'simpler' income and expenses?
- January 2013: Saving tax ahead of the year end
- November 2012: Child's play? The new rules on child benefit
- October 2012: Real Time Information: are you ready?
- September 2012: Are you up-to-date on pension auto-enrolment?
- May 2012: After the Budget: planning strategies to implement now
- April 2012: Making your business an Olympic success
- January 2012: The 5 April Year End - plan to save tax now
- November 2011: Autumn Statement 2011
- November 2011: Furnished Holiday Lettings
- October 2011: The Agency Workers Directive
- September 2011: Capital Allowances Are Changing: Make Sure You're Prepared
- June 2011: The Bribery Act: What your business needs to know
- May 2011: Don't get caught out by the taxman!