Helping businesses of Abingdon area in COVID-19. We also provide CIS claim services in Abingdon.
We are providing great offers on year-end accounting services as we do every year, please visit us or enquire about the requirements so that we can assist you. When it comes to Accountants in Abingdon, Oxon accountancy has established its name in the last 5 years and worked with many startups, retails, HGVs and contractual companies. We also provide services like personal tax, yearend, booking, tax savings, property tax, mortgage planning and Vat returns.
Companies require a fast, efficient and dedicated service without the traditional fee-spiralling discussions/meetings which serve very little or no benefit to them as the client rather they want materialistic results. We value time as money and considering our cloud accounting approach we are way ahead and provide faster automated results.
Protecting your business from fraud
Steps to shield your firm from threats.
Fraud costs the Oxfordshire, Abingdon, Oxford, England, Swindon, Didcot, Reading, London, Southampton, Bristol, Slough, Birmingham and across UK around £190 billion a year, with businesses bearing almost three quarters – £140bn – of those losses.
This worrying picture is backed up by the 2019 Fraudscape report compiled by anti-fraud body Cifas, which provides statistics for fraud committed by employees. The report read:
“Dishonest action by staff to obtain a benefit by theft or deception was the most common type of internal fraud in 2018, accounting for 46%. The most prevalent form of dishonest action during the year was theft of cash from the employer.
“The second most common fraud type was theft of cash from a customer, which rose to 22% in 2018 compared to 17% in 2017.”
Fraud can be characterised as rule-bending, but for businesses struggling to manage cashflow it can have catastrophic effects.
Earlier this year, Patisserie Valerie, with a £40 million black hole in its finances, went into administration, saying in a statement that this was “a direct result of significant fraud”.
For smaller businesses in Abingdon, of course, it can take much less to cause serious cashflow problems.
Please bookmark our website as we do publish monthly insider https://oxonaccountancy.co.uk/insider-may-2020/ which by visiting us regularly can provide further news and developments regarding the online accounting services we offer across Abingdon, Oxfordshire and the rest of the UK.
Abingdon small businesses accounting tips
1. The World is using cloud accounting software, are you?
Oxon accountancy provides cloud accountancy services in the Abingdon area and has received many appreciations from the clients for modernizing accountancy practices. A lot of people still believes doing bookkeeping is still the racks of maintaining big files cabinet, but you can get rid of all that using cloud-based accountancy services.
2. Best practices for operating a small business accountants
We often receive queries from the small business in the Abingdon area that we operate from our own place and unable to decide what would be under the business account and what goes under personal. Mostly because there are shared expenses between the place you live and run business, family-operated businesses, corporation tax vs personal tax, property tax and staff salary. Oxon accountancy helps in maintaining clearly distinguish aspects so that you can estimate the proper investment vs total profit.
3. A Tax accountant is essential to keep up to date business
When you run a business and passionate about what you do (Mostly with Abingdon Startup businesses), at times important dates you miss and later regret the mistake because it would cost you heavily. Having an accounting firm like Oxon accountancy alongside can helps you focus more on your business and will take care of the rest regarding all tax-related liabilities.
Tax Card 2020/21 – Abingdon
* The personal allowance is reduced by £1 for each £2 of income from £100,000 to £125,000 (2019/20, £125,000).
** Any unused personal allowance may be transferred to a spouse or civil partner, where the recipient is not liable to higher or additional-rate tax.
*** Note that landlords and traders with gross income from each of these sources in excess of £1,000 can deduct the allowance from their gross income as an alternative to claiming expenses. Please refer following post for more details – https://oxonaccountancy.co.uk/tax-card-2020-21/
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