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Greetings!
First of all, welcome to our first Newsletter! Hopefully you will find this both informative and interesting.
You should have already recieved Part 1 of our 10 Part Business Plan. If you haven't, then there's a link at the bottom of this email There will be links at the bottom of each email to take you to previous emails that have been archived. All of our previous emails will be available shortly at our website, www.keepers.info. |
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Part 2 of 10 Business Plan - questions to ask yourself to make sure that your business has thought of everything in it's business plan.
VAT Errors - If you have submitted VAT return forms that include errors, don't worry, just read this section
Offer of the Month - Exactly what it says on the 'tin'!
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You probably know this already, but I am going to say it again and bore you silly - IF YOU DON'T HAVE A WORKING BUSINESS PLAN, YOU DON'T HAVE A BUSINESS.
What is it that stops us from taking 15 minutes out of each day to write or update the very thing that will lead us to our goals and aspirations; more money, more free time and satisfaction?
Never fear, just follow our ten part plan, implement it bit by bit, and watch your business grow. If you need any further help regarding business plans, or anything else, please email or call us on 0800 612 2008. We are here to help you.
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Part 2 of 10 Business Plan - Questions you should consider
Competitors
When preparing a Business Plan, every business should carefully analyse their competitors.
Questions to consider are:-
· What are your competitors' strengths?
· What are your competitors' weaknesses?
· What are your competitors' opportunities to expand their businesses?
· In what areas are you better than your competitors?
· In what areas are your competitors better than you?
· What do your customers say about your competitors?
· Can your competitors easily diversify into your market?
· Do you maintain competitors' files?
· What strategies are you going to adopt to effectively compete with competitors?
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Every month, we will be releasing an offer that is available only to the first 10 companies that contact us.
This month, we are offering an hour's free consultation, and we guarantee to either save, or make you money.
So, if you are interested, hurry!
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Correcting VAT Errors
When you find an error in your VAT records, which has already been included in the figures reported on a VAT return, don't panic! You can correct that error on your next VAT return, as long as the net error amounts to VAT due of less than £10,000, or less than 1% of your quarterly turnover (subject to a £50,000 cap).
If the net error is larger than this, you will need to write to the Tax Office telling them exactly what went wrong, and how you have corrected the problem. We can help you with this.
Correction on the VAT return is the best and quickest option for most small errors. If the Tax Inspector looks in detail at your VAT return, you may have to pay interest on the delayed VAT payment and a small penalty.
However, the interest rate currently used by HMRC is only 3%. The penalty for an error that has been corrected voluntarily is a maximum of 30% of a nominal interest figure set at 5% of the delayed VAT payment.
For example: If you correct an error of VAT underpaid of £10,000 after six months, the maximum penalty will be £75: £10,000 x 5% x 30% x 6/12 = £75.
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Thank you for taking the time to read this email. If you have any suggestions regarding material you would like to see in the next Newsletter, or any feedback, please don't hesitate to send us an email. |
| Best Wishes
Chris & Ben
Keepers - We enjoy what we do, the businesses we meet, the help we
give and the people involved.
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