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finance lease or hp

Gordon - Commercial Finance
mjb6964 said:
didn't realise they did hp with balloon?
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Yes HP with balloon, the best kept secret in the motor trade. All the good bits of PCP, without being terrible for customers....like PCP!

HP with a balloon is a really good way of keeping your payments down, and a reputable broker working in your interest would structure your finance in such a way that you balloon is considerably less than what your expected residual value will be. That way you're protected against anything unforseen forcing you into a negative equity position, you don't need to worry about mileage, and when your balloon comes around if you want to keep the vehicle, you can generally spread the balloon over a couple of years too.

The main thing to consider in comparing HP with finance lease is the VAT. On HP you need to pay the full VAT up front, and if you're VAT registered of course you can get that back. You can even get a 3 month VAT deferral often so that you're never out of pocket.
On a finance lease, there is VAT on each monthly rental, so you pay 20% more per month, but its like spreading the VAT over the full term rather than paying it all up front essentially. Useful for businesses who are not VAT registered....
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EU VAT reclaim

A
Hi Sam

If import VAT is incurred in the EU country of import, this will not be recoverable through the UK VAT return. If the goods once processed are moved to the UK, there will likely be a registration requirement in the country of dispatch. UK acquisition tax will then be payable through the UK VAT return when the goods arrive. The overseas VAT would then be recoverable through the local VAT return. You should also consider if any import VAT relief/suspension is possible.

Of course, the treatment may well change in a few weeks...!

Richard
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Return laws for customised goods sold online?

C
But and a bib but with clothing is the returns after misuse, like
Wear once for the night out split the hem deliberately and return
Test with makeup on and leave marks around the collar and return
Return with a strong odor from the garment which was not there at dispatch to them
Wrong size
Wrong Size
Wrong size
Wrong colour red
Wrong colour black
Screwed up with none of the original packaging
Does not match my lipstick/ shoes/ handbag

Its fun selling clothing and to sell ladieswear, you need to be able to take abuse without causing offence every day, whilst putting up with everything you sell being wrong to 75% of the ladies population and dealing with a large number of dishonest customers

Just my opinion
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How to grow my business?

R
bob2019 said:
Depending on your type of business, a quick route to online visibility is advertising through Google Adwords. This involves choosing key phrases or words that you want to target when someone does a Google Search. Depending on how much you are prepared to pay depends how high up on the results page you can get.

Like anything quick, it requires investment and testing. Be VERY careful - my opinion is to never link it to your bank account through Direct Debit, just top it up manually so you know you have complete control of your budget. Even though there are budget options etc within the panel, Adwords is very good at eating funds very quickly without you realising and I prefer the manual top up method.

Whilst it is easy to set up an account and get clicks from AdWords, you may want to speak with a specialist to ensure you are getting the most for your money - you want to minimise the amount of people clicking your advert and costing you money if they are less relevant customers or less likely to convert to sales.
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Thanks for your advice
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UK small business employing contractor in Sweden

B
I have spoken with HRMC and it may be possible for them to remain employed but on an NT (No Tax) code and X NIC code so that they are paid Gross of any tax etc each month and then they are responsible for their Tax declarations etc in Sweden.

I will investigate this on both sides and post the final outcome here as no doubt other people will have a similar question in the future.
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Balance Customer Acquisition and Customer Retention

M
Erika Jones said:
In any business, there should be a balance between the two strategies customer acquisition and customer retention.
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That is over generalising - I've been involved in two different businesses in which the service provided will generally never be needed by the same customer twice. They can recommend friends/family, but they will not be back themselves. Focusing on retention there would have just been silly.

You need to know metrics are important for YOUR business, there is no hard and fast rule.
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Messy Accounts

MyAccountantOnline
Blood Lust said:
I am on assignment with a company whose accounts are a mess and I`m struggling to fix it.

I have spent a month posting a backlog of transactions onto Sage 50 for their financial year 2018 to 2019 and correcting transactions which were posted using the wrong bank account nominals. This part isn't so bad although the bank recs dont balance anymore. They dont balance as I have altered the bank nominals for many transactions to their correct ones.

I also have a further 500 transactions left unreconciled from their previous financial year. Most of these their staff weren't able to reconcile because they used the same kind of incorrect bank nominals etc. I cannot touch these as that year is closed.

What is the correct procedure for fixing this as I have never encountered a set of accounts as bad as these before?

Do I match all outstanding transactions in the rec windows for each bank account?
Then manually alter the nominals for each to show the correct amounts?

If it was my company I would start their financial year afresh on Sage 50 but is this allowed and even possible?
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If the records are that bad I'd start from scratch.

In my experience very often re-doing it properly is a lot quicker than trying to sort out a mess.
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Retail Merchant Services Milton Keynes

K
Hi Judy.
I've heard nothing further from RMS so no news is good news.
Stick to you guns. The important thing is not to enter into any dialogue with RMS unless it's by letter sent via Recorded Delivery. Has your husband had any communication with the actual card provider ie. Elavon? I wrote to them also advising that the contract had been mis-sold to me etc. They were happy to cancel their side of things - got the impression that they had "issues" with RMS!
Good luck.
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What figure is adjusted net profit?

Clinton
"Adjusted net profit" is whatever fiddled figure the creator of the figure wants it to be :)

Think EBITDA is bad, unreliable, deceptive, irrelevant (given lack of Capex considerations) etc etc? Adjusted Net Profit is EBITDA that's been further fiddled. ;)

There are multiple uses for adjusted net profit you get from a business owner. The most important use is that it provides numbers you can use for your lottery ticket and you don't have to think of new numbers every week.
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