08/01/2012 by Geoff.

We always bang on about doing your marketing in order to make a success of your venture - but it will cost a fortune I hear you say.

Maybe not.

If you have a good product or service you stand a chance of harnessing the power of your existing customers - word of mouth recommendations. They’re very powerful and mean that new clients feel confident in your business and feel less on edge. Search for ways to make it easy for your clients to recomend you.

Whilst “word of mouth” marketing has been arround a long time it has recently had the advantage of online social media. But beware it’s not for all companies (not new start ups) you need a mature product or service.

Another point to remember in the words of “Crosby” it is no longer to offer a good product or service it needs to be exceptional giving your clients something to shout about for you.

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08/01/2012 by Geoff.

If you are using the Flat Rate Scheme for VAT then you will be aware that you cannot reclaim input VAT on your purchases unless they are a single purchase of a capital nature and in excess of £2,000 inclusive of VAT.

However the rules state that purchases of a capital nature made at the same time from the same supplier on the same invoice are deemed to be a single purchase for VAT Flat Rate Scheme purposes.

For example if you purchase a computer package comprising a computer, a printer, external hard drive, digital camera and speaker systems which costs more than £2,000 (incl. VAT) then the VAT can be reclaimed. If these are all purchased from the same store on the same day and are shown on the same invoice if the total cost of these items is in excess of £2,000 (incl. VAT) then you can reclaim the VAT.

So if you use the Flat Rate Scheme for accounting for VAT and are looking to purchase some new assets then you should take the time to shop around to see if you can get the items you require from the same supplier and include them all as one purchase. This could save you a large amount of input VAT you would otherwise not be able to reclaim from HMRC.

Simone Greasley

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