BUDGET SUMMARY – WHAT THE CHANCELLOR IS OFFERING SMALL FIRMS High-Tech
Enterprise
Tax
Capital Gains Tax
Investment
*measures already announced Red Tape
SOURCE: ERNST & YOUNG DIFFICULT WEB SITES FAIL TO ENTICE CUSTOMERS Some of the biggest names in online retailing are failing to attract paying customers because their Web sites are poorly designed and difficult to navigate, it was claimed last week. Customers visiting some of the top online sites, are giving up in frustration and abandoning their electronic shopping trolley before they buy anything research from management consultancy Shelley Taylor Associates reveals. The survey of 100 online stores in the US and the UK shows that a range of design faults are damaging their profitability, Shelley Taylor claimed, with many sites focusing more on snazzy graphics tan on ease of use. “Much more attention should be given to substance than sizzle by online vendors, providing customers with the experiences that will translate into completed transactions and repeat business,” said Taylor. Navigation tolls on many sites are so difficult to use or so badly designed that customers give up before they find what they want. Customers left three-quarters of the sites analysed without buying anything. Survey Results
SOURCE: COMPUTER WEEKLY AUDIT EXEMPTION THRESHOLD INCREASE Q. What are these regulations all about? A. They will increase the turnover limit for small companies which want to claim exemption from audit. They do not apply to charitable companies, which will be the subject of a separate consultation. Q. When will they come into effect? A. Implementation date is not yet certain as the regulations have yet to be approved by Parliament. Subject to this, the new provisions will apply to year ends after 31 July. Q. What are the current turnover limits? A. Companies that are eligible and have a turnover of not more than £350,000 can claim exemption from the statutory audit of their accounts (articles permitting) Q. What are the new limits? A. The turnover threshold will be increased this year so that eligible companies with a turnover of not more than £1,000,000 will be able to claim exemption from having their accounts audited. Q. Are any further increases planned? A. Any further increases will be made in the light of the outcome of the Company Law Review, which is considering whether companies with a turnover between £1 million and £4.8 million should have the audit of their accounts replaced by a lighter, less costly form of assurance. Q. Has the balance sheet total been increased? A. No. Q. Have the eligibility criteria changed? A. No. The rules governing eligibility both for individual companies and groups remain unchanged as set out in sections 249B and 248(2) respectively. Q. Have the rules about groups of companies changed? A. No - except that the threshold has also been raised in line with the threshold for individual companies so that the aggregate turnover of the group must be not more than £1,000,000 in order to claim individual exemption for parent and subsidiary companies. SOURCE:
COMPANIES HOUSE CASH
RICH WITH A 12 POINT PLAN The Better Payment Practice Group has little faith in the power of legislation and warns smaller businesses to improve their own cash collection procedures. Peter Rowe, a member of the group, said “significant change in tackling the UK’s late-payment culture will only happen if companies demonstrate less tolerance to late payers”. To help them it has produced advice on how to stir creditors into action. Twelve rules for prompter payment
SOURCE: THE DAILY TELEGRAPH
|
Site Designed by Internet Wales