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Droitwich, Worcs, WR9 8JB
Telephone: 01905 770750
Email: paulaltonuk@gmail.com
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PA Chartered Accountants
We are pleased to pass on short news stories about the firm, the successes of our clients, and important changes to legislation that may affect you.

If you have any questions about how these articles may affect you, please do not hesitate to contact us.

  • Invalid VAT Numbers
  • Ten Tips to survive the credit squeeze
  • 5-a-day financial health plan


  • Invalid VAT Numbers

    Dated: Wednesday, Jul 15th, 2015

    Be wary when obtaining VAT Numbers from customers. In a VAT Appeal relating to the zero rating of Motor Vehicles sales, the tribunal concluded that the appellant did not take all reasonable steps to verify the authenticity of the VAT number. Five vehicles had been sold to a purchaser in the EU who supplied an invalid VAT number. The Tribunal dismissed the appeal. Would you know if you had been supplied with an invalid VAT number?

    To check the validity of VAT number visit:

    http://ec.europa.eu/taxation_customs/vies/vieshome.do

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    Ten Tips to survive the credit squeeze

    Dated: Sunday, Jun 21st, 2015

    1. Put cashflow and financing on the agenda for every management meeting .
    2. Regularly update cashflow forecasts.
    3. If there is a conflict between profitability and cashflow take the cashflow option.
    4. If you have a term loan or overdraft be aware of any covenants and constantly monitor how close you are to breaching them.
    5 Prepare thoroughly if a review is coming up on any of your financing facilities.
    6. If limits are threatened think the unthinkable regarding the sale of assets.
    7. Talk to current financiers befoire you get into difficulties. Otherwise you devalue future forecasts.
    8. Make sure all types and sources of finance have been fully considered.
    9. Invest time talking to new sources of finance. You might need them if your current providers prove difficult.
    10. If you are cash rich draw up a list of ways you could use surplus cash for the longer term benefit of the business.

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    5-a-day financial health plan

    Dated: Thursday, May 14th, 2015

    Muesli probably won't help you with the credit crunch but the following steps might:
    1. Arrange life/income insurance.
    2. Build a rainy-day cash fund.
    3. Pay off expensive debt.
    4. Start an ISA and pension.
    5. Review your position.



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