View Timing your invoices to improve cash flow

Timing your invoices to improve cash flow

Unless you use the cash accounting scheme, you will normally account for output tax on the VAT return that coincides with your sales invoice date. How could a simple VAT trick with your invoicing help your cash flow? Tax Points The tax point rules identify when a supply has taken place for VAT purposes, and…

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View 70% of SMEs try to manage Cash flow themselves

70% of SMEs try to manage Cash flow themselves

Cash flow is the money a business has in the tank to function, can make or break businesses. Business Insights explored the attitudes of UK SME owners on managing cash flow. What is cash flow? Put simply, it is the money your business has readily available to use for day-to-day operations. Put less simply, it…

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View When is the right time to hire a Finance Director?

When is the right time to hire a Finance Director?

You’ve launched your business, sales are growing at a healthy rate, customers are lining up and there may even be interest being shown in international markets.  You should be basking in the light of your success, but instead you have so much to do, it’s hard enough to find 15 minutes to grab a sandwich…

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View How to solve common cash flow problems in your SME

How to solve common cash flow problems in your SME

Just as good cash flow keeps a business afloat, poor cash flow can sink it. Poor cash flow is a big reason why one in every four businesses don’t make it past the first year. And why more than half don’t survive past the fifth. In this article, EFM will explain what cash flow is,…

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View A Business Advisory Event  – 30 November 2016

A Business Advisory Event – 30 November 2016

Turnover is vanity, profit is sanity, cashflow is reality Join EFM, Woodfines Solicitors and Velocity Growth Hub at a Bedfordshire Chamber of Commerce event on 30 November at Wrest Park for an afternoon seminar on Finance and Cash Management. Many smaller business can run out of cash whilst still profitable, because they are unable to meet financial obligations…

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View Increased profits for Automotive firm

Increased profits for Automotive firm

SECTOR: Automotive CONCERN: Cashflow and potential insolvency implications CHALLENGE: The client had several issues to resolve including low profitability, bank facilities under severe pressure –  the Account had been taken away from the Local Bank Manager and placed into “Intensive care”, as the overdraft had been allowed grow to twice the agreed £1m facility. This indicated…

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View Financial Healthcheck results

Financial Healthcheck results

During the last year we have had a great response to our Financial Healthcheck Quiz. The results are now in and are broadly in line with our observations over the last 3 years of survey data. Of the 301 respondents, 26% registered a ‘Poor’ score (below 50%), 55% resulted in a weak outcome (between 51%…

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View Will new HMRC powers affect your business?

Will new HMRC powers affect your business?

Hidden in a budget aimed primarily at savers and everyday pleasures, was a plan that might change the way HMRC does its job forever. Traditionally, all tax debts have been collected through typical credit control procedure: demands for payment, followed by legal proceedings if the debtor does not pay. However, Chancellor George Osborne announced in…

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