Newsletter
Week 39, 2008
STOP PRESS......
New money laundering regulations' application deadline
Businesses required under new regulations to identify and prevent money laundering and terrorist financing have until 30 September 2008 to apply to register. Trust or Company Service Providers (TCSPs) and Accountancy Service Providers (ASPs) that they must send in application forms by 30 September 2008. Forms and guidance can be downloaded from the HMRC website and a helpline will also assist customers (Tel:0845-010-9000,Monday - Friday, 8am to 8pm).
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TIP OF THE WEEK
Managing debtors and late payments
As late payment problems continue to trouble small businesses, here are 5 golden rules for dealing with debtors and ensuring that you keep on top of your cashflow management:
1) Agree payment terms before you supply; ask for payment within 30 days of invoicing with the right to charge interest on late payment.
2) Invoice accurately; make sure you know where to send invoices and what they must include.
3) Raise invoices as soon as the work is completed and don’t wait until the end of the month. 4). Do follow up late payments. Call a few days after due date then send written reminders and demands asand if necessary.
5) Consider a discounts for prompt payment, depending on your need for the fast payments.
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ARTICLE OF THE WEEK
Are There Business Applications for Virtual Worlds?
But just what does the future hold for the industry? With the Gartner Group's estimate that 80% of active Internet users will use at least one virtual world by the end of 2011, the virtual world realm is certainly here to stay, concludes this analysis from Goizueta Business School.
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NEWSFLASH OF THE WEEK
Concerns over the burden of additional business rates
The Forum of Private Businesses has expressed its concern that small companies are not being protected from increased business rate costs and scrapping Empty Property Rate Relief in April 2008, leaves many small firms out of pocket. More than 30 MPs have signed a motion against the removal of this tax relief. In addition, the burden of funding the new Business Improvement Districts (BIDs) mean some small companies are paying even more money for little in return.
On the other hand, more than £200 million in rate relief goes unclaimed every year in the UK. The deadline for applications is 30th September.
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EVENT FO THE WEEK
GLEE Birmingham
When: 21-23 September 2008
Where: NEC, Birmingham
Cost: free
Glee is the most comprehensive annual buying event for the garden, pet and leisure sectors. Featuring 1400 suppliers, it is the best place for finding inspiration and great deals to help your business grow. If you’re in the business of buying garden, pet and leisure products, you need to visit Glee. Click here for more info and to register.
Week 39, 2008
STOP PRESS......
New money laundering regulations' application deadline
Businesses required under new regulations to identify and prevent money laundering and terrorist financing have until 30 September 2008 to apply to register. Trust or Company Service Providers (TCSPs) and Accountancy Service Providers (ASPs) that they must send in application forms by 30 September 2008. Forms and guidance can be downloaded from the HMRC website and a helpline will also assist customers (Tel:0845-010-9000,Monday - Friday, 8am to 8pm).
.
TIP OF THE WEEK
Managing debtors and late payments
As late payment problems continue to trouble small businesses, here are 5 golden rules for dealing with debtors and ensuring that you keep on top of your cashflow management:
1) Agree payment terms before you supply; ask for payment within 30 days of invoicing with the right to charge interest on late payment.
2) Invoice accurately; make sure you know where to send invoices and what they must include.
3) Raise invoices as soon as the work is completed and don’t wait until the end of the month. 4). Do follow up late payments. Call a few days after due date then send written reminders and demands asand if necessary.
5) Consider a discounts for prompt payment, depending on your need for the fast payments.
.
ARTICLE OF THE WEEK
Are There Business Applications for Virtual Worlds?
But just what does the future hold for the industry? With the Gartner Group's estimate that 80% of active Internet users will use at least one virtual world by the end of 2011, the virtual world realm is certainly here to stay, concludes this analysis from Goizueta Business School.
.
NEWSFLASH OF THE WEEK
Concerns over the burden of additional business rates
The Forum of Private Businesses has expressed its concern that small companies are not being protected from increased business rate costs and scrapping Empty Property Rate Relief in April 2008, leaves many small firms out of pocket. More than 30 MPs have signed a motion against the removal of this tax relief. In addition, the burden of funding the new Business Improvement Districts (BIDs) mean some small companies are paying even more money for little in return.
On the other hand, more than £200 million in rate relief goes unclaimed every year in the UK. The deadline for applications is 30th September.
.
EVENT FO THE WEEK
GLEE Birmingham
When: 21-23 September 2008
Where: NEC, Birmingham
Cost: free
Glee is the most comprehensive annual buying event for the garden, pet and leisure sectors. Featuring 1400 suppliers, it is the best place for finding inspiration and great deals to help your business grow. If you’re in the business of buying garden, pet and leisure products, you need to visit Glee. Click here for more info and to register.
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