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Welcome to my blog

 

Here you will find news that is too big to fit on Twitter!

By Richard Morrell, May 3 2014 03:25PM

The margin is the percentage of the final selling price which is profit.


The markup is what percentage of the cost price you need to add to get the selling price.


A simple example...


If you buy something for £80 and sell it for £100, the profit will be £20.


The margin will be 20% (profit £20/selling price £100).


The markup will be 25% (profit £20/£80 cost price).

By Richard Morrell, Apr 20 2014 02:08PM

The problem with calling HMRC is not getting any better.


If taxpayers have the patience to get through the new voice recognition automated system and wait for their call to be answered, more and more individuals are losing the will to listen to HMRC's advisers. Over a million calls to HMRC were abandoned in July 2013!


Did you know that accountants have a dedicated Self Assessment helpline that we can call on our client's behalf. The helpline is given priority and will be answered faster and by an experienced adviser.


So, when you next have a query that you would usually discuss with HMRC, let us know first. If we cannot answer your query ourselves, we can HMRC on your behalf.

By Richard Morrell, Apr 11 2014 03:48PM

All employers are entitled to claim a reduction of £2,000 off their employers national insurance in 2014-15.


Don't forget to claim the allowance through your payroll software before you make the first payroll in April 2014.


For more details go to https://www.gov.uk/employment-allowance-up-to-2000-off-your-class-1-nics

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