Edward Brainchild Spending Review 2020: National living wage to increase by 2.2% this April The national living wage will rise from £8.72 to £8.91 an hour and will be extended to workers aged 23 and over from April 2021, the Chancellor has announced. Rishi Sunak confirmed the increase in his Spending Review 2020, which was set out … Read more
How to charge and account for VAT on takeaway food business, chicken or kebab shop, fish and chips, eatery or restaurant, bar or cafe VAT accounting For businesses that are runny a cafe, restaurant, bar, chicken shop, eatery or just a bar and cafe, accounting for the regular take away business VAT charge can be … Read more
Don’t get caught out on UK Gift Aid Rules: When a gift not a gift? In general terms a ‘gift’ is something freely given, with no expectation of anything in return. If something is received in return, either contractually or as a reciprocal benefit, the ‘gift’ is not actually a gift or no longer qualifies … Read more
Calculating Inventory Value and Cost – The Importance We all know the importance of holding the correct inventory levels in our business, ensuring we meet customer demand, yet minimising stock holding costs and risks of obsolesce. However, do you know the impact of ensuring you have inventory recorded at the correct value? UK Accounting Standards … Read more