Posts Tagged ‘Company Accounts’
HOW DOES VAT WORK ON INTERNATIONAL PLACEMENTS?
When making recruitment placements within the UK, whether permanent, temporary, or contract, a UK-based recruitment agency that is registered for VAT will charge VAT on the net invoice value to its UK client (except for placements covered by the Nursing Agency Concession). However, when a UK recruitment agency makes a placement (permanent, temporary, or contract)…
Read MorePOST-HOLIDAY BLUES… MAYBE YOU SHOULD CONSIDER STARTING YOUR OWN AGENCY
July and August are traditionally when recruiters take a well-earned break, whether it’s a staycation in the UK or a trip abroad, to recharge and reflect on their careers. For many, this downtime becomes a period of clarity and decision-making, and it’s often when the idea of launching their own recruitment agency starts to take…
Read More6 ADVANTAGES OF OUTSOURCING YOUR BOOKKEEPING SERVICES
Bookkeeping is a core accounting function that involves recording a company’s financial transactions, such as bank payments and receipts, logging sales and purchase invoices, analysing expense and mileage claims, and reconciling bank accounts and credit card statements. Traditionally, bookkeeping was handled by semi-qualified accountants. However, with the rise of accounting software and automation technologies, many…
Read MoreWHY NOT KEEPING YOUR BOOKS UP TO DATE CAN MAKE YOUR RECRUITMENT AGENCY GO BUST!
Recruitment directors are often not financial experts as their skills lie in securing placements, registering candidates and growing their agency via sales. As business owners and directors you need to invest time into ensuring that you understand your responsibilities and stay on top of your financial data to avoid HMRC fines and investigations, and why…
Read MoreARE ACCOUNTANTS BECOMING LAZY BY GETTING CLIENTS TO COMPLETE THEIR OWN BOOKKEEPING?
In the age of rapid advancements within online accounting software such as Sage One, Xero and QuickBooks, to streamline and simplify accounting processes, there has been an increased drive from accountants for companies to do their own bookkeeping and accounting submissions. This will involve an accountant setting up a licence and providing some limited training…
Read MoreDO YOU KNOW HOW TO READ YOUR OWN COMPANY ACCOUNTS?
Think about that question for a second…do you know how to read your own company accounts? Any company, limited or LLP, that is registered at Companies House, must present a set of company accounts each year within 9 months of their year-end. These accounts tell the story of the year gone by and the financial stability…
Read MoreWHAT PREPARATION DO YOU NEED TO DO WHEN CONSIDERING SELLING YOUR RECRUITMENT AGENCY?
Many recruitment directors aspire to one day sell their business for a healthy profit, but unfortunately, the reality is that many will fall short. The main reason for this is the lack of planning that a recruitment agency should undertake in advance of wanting to sell. When recruitment agency directors consider selling their business, they…
Read MoreHOW DO YOU KNOW IF YOUR BACK OFFICE IS RUNNING EFFICIENTLY?
For most recruitment directors, the accounts and finance function within their business is often an afterthought, mainly as they focus on filling vacancies and getting their team to make more placements. Also, most recruitment directors are often unaware of how their back-office processes are done and, therefore, do not take the time to review whether…
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