As the UK prepares to leave the European Union and increasingly likely heading for a no-deal Brexit it is vital that businesses are prepared for the financial implications of this unprecedented change.
Whilst many companies have already started to consider how they will be affected by carrying out formal risk assessments there is still a small window of time to gain understanding and steps all firms should be taking to minimise future disruption - planning ahead now will help to ease transition and hopefully also bring long term benefits.
Businesses are being encouraged by HMRC to register for Making Tax Digital before the August deadline.
According to HMRC 1.2 million businesses with an annual turnover above £85,000 will be affected by new rules requiring them to submit online quarterly returns using compatible software by August 7th; meaning any business wishing to pay by direct debit must register by July 27th.
All businesses need a healthy cashflow to thrive – the old adage “cash is king” is as true now as it ever was.
So here are some of the main reasons businesses have poor cashflow:
Cunnington & Co Limited Chartered Certified Accountants & Registered Auditors
Edward House
Grange Business Park
Whetstone
Leicester
LE8 6EP
T: 0116 278 2380
E: info@cunningtonsaccountants.co.uk
COMPANY REGISTRATION NUMBER: 07786141
REGISTERED IN ENGLAND & WALES
Registered as Auditors and Regulated for a range of Investment Business Activities in the United Kingdom by the Association of Chartered Certified Accountants
