Choice of the day

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+4 4 votes

Welcome to the new GJ Blog

At GJ we have a rich heritage of using technology for business benefit.  With the internet being part of our business life it seemed only natural to use it to reach out to the wider business community through this new GJ Blog.

If you are unfamiliar with what a blog is then you are not alone.  We think of our GJ Blog as an informal virtual space where our team at GJ can share their thoughts and enjoy an online conversation with...

Recent Posts

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+1 1 vote

Cash is king

Currency PoundsIn today's environment, survival depends on three things - cash, cash and cash.  It used to be said that Turnover was vanity, Profit was sanity.  But profit tied up in debtors and stock gets you nowhere until it's converted into cash.

And getting paid is getting harder.  I've heard of major retailers seeking to stretch credit terms to 90 days ... 120 days ... even 180 days.  Even large suppliers face huge difficulty fin...

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+1 1 vote

Offshore Disclosure Facility - if at first you don’t succeed try again

We understand that HM Revenue & Customs are expected to announce a new Offshore Disclosure Facility (ODF) in 2009.

The Offshore Disclosure Facility is a process which was available for a few months in 2007 to encourage people to come forward and make disclosures of offshore bank accounts that had previously been undisclosed.   By making a voluntary disclosure of the income which had not been shown on tax returns, the taxpayer could ...
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+1 1 vote

HMRC rights and powers

There has been much comment in both the mainstream and professional press about the new powers that have been provided to HMRC in the Finance Act 2008.  These powers provide a consistent framework for both direct and indirect taxes. The powers about which there has been most comment are those designed to allow HMRC to obtain information and those which allow HMRC access to business premises.
 
Assuming that a taxpayer...
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+2 2 votes

Has the Chancellor passed on the interest rate cut?

The Chancellor's insistence that the banks should pass on yesterday's interest rate cut to their customers lead me to wonder whether he was applying the same to his own departments.

At first sight the 1% drop in the rate charged by HMRC on late paid tax would seem to suggest that he has. However on a closer look, as shown in the chart below, it appears that the banks may not be the only ones taking the opportunity to top up their coffers, a...

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+3 3 votes

Come on Alistair give us a real relief for entrepreneurs!

Whether to take on your first employee must be one of the most difficult decisions for any budding entrepreneur. The salary costs of that first employee will inevitably be disproportionately large when compared with the size of the fledgling business. Add to that the cost of Employers National Insurance Contributions and the mind boggling array of employment legislation that goes with the status of employer and it’s a wonder that anyone has the ...

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+2 2 votes

Simon Hurst Excel Guru

If you are a budding Excel guru or you want to be able to achieve more in Excel faster and quicker then an online visit to Institute of Chartered Accountants in England & Wales can help.  There you will find the Excel Guru in the form of Simon Hurst at their online network IT Counts.

Simon's tips come in bite size chunks at IT Counts.  The online approach works well as many tips include animated screen shots which aids in grasping t...

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+3 3 votes

Are we a high tax country?

One of the great difficulties interpreting published data is that we inevitably hear far more about our own economy than we ever hear about competing ones.  We are fed a stream of so-called facts by a parochial media that not only tells us little about overseas comparisons, but may also choose to filter the data it reports to support its political agenda.

An excellent source of comparable data is ...

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+2 2 votes

Musings from the sickbed

I have been unwell for a few weeks, nothing terminal but a bit more long winded than the usual winter snuffle.  As I have been recovering I have been considering the problem of illness and the workplace.

As everyone expects us to head into the next recession, it is likely that all companies will be leaner on staff numbers.  Obviously, this makes it much more difficult to cope with any absences.  Recession plus a moderately seriou...

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+2 2 votes

Residential landlords beware

Many property developers end up owning freehold reversions on blocks of flats sold on long leaseholds.  When they do, they frequently pass the management of the property to a managing agent charged with responsibility for collecting in Service Charges, defraying expenses, and running the accounting process.

The developers’ expectation is that they’ll receive a return on the reversion based on ground rents received, with nothing else of su...

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+3 3 votes

Client’s Money – what if my bank fails?

Many firms such as solicitors, accountants, theatrical agents and estate agents hold money on behalf of their clients. Given the current uncertainty in the financial sector, many such firms are asking “what is my liability if the bank holding my client accounts fails”?

As many readers will be aware the compensation limit under the FSCS is £50,000 per bank for an individual, sole trader, a small partnership, or a small limited company or...