Carmichael Kingham & Co.

Wishing everyone a very Merry Christmas from Carmichael Kingham & Co!

carmichaelkingham on TikTok Merry Christmas from Carmichael Kingham & Co!

Business tip Friday, is that a thing? Save time and reduce errors by streamlining your expense claim process. Talk to us to find out how!

Is VAT a mystery to you? We’ve got a simple overview of the basics of VAT, so you know how to apply the tax, the available schemes and how to maximise the impact of VAT.

Testimonial Thursday, is that a thing?

One of the lovely testimonials from a fantastic client. 🖤 So lucky to work with such amazing people!

Have you subscribed to our YouTube channel? 👇

Check out our video below to understand how cost of goods sold (COGS) impacts your gross profit. We’ll help you understand your goods-related expenses and drive a better profit margin on your products. 👇

https://www.youtube.com/watch?v=svY2HUhNrAA&t=2s

Is COGS affecting your gross profit Do you know how much it costs you to produce each product or service in your range?The better you can understand cost of sales – or cost of goods sold (COGS)...

When you set up a new company there are certain business taxes you’ll be liable for as a business. But have you also planned for the personal taxes you must pay as a director?

Cost of goods sold (COGS) is usually the biggest expense for businesses selling stock so it can have a huge impact on your gross profit. It’s really important to get it right. We’ll help you understand your goods-related expenses and drive better profit margin on your products.

Check out our blog: https://carmichaelkingham.com/blog/is-your-cost-of-sales-affecting-your-gross-profit

Is your cost of sales affecting your gross profit? — Carmichael Kingham & Co. Do you know how much it costs you to produce each product or service in your range? The better you can understand this cost of sales – or cost of goods sold (COGS), as it’s more commonly known – the more ability you have to control your company’s profitability. When you know your COGS, you c...

We have a YouTube channel! See our first video and hit subscribe! 👇

https://www.youtube.com/watch?v=KMJM93g-Ir4&t=2s

Do you have an ecommerce business? If you do bookkeeping is King! Bookkeeping isn’t the most exciting part of accounting but it’s fundamental to getting everything right, and we're obsessed with getting your finances right!

Forecast, forecast, forecast! What do you know about your idea or business? When will your business break even? When will you be able to take money out of the business? If you expect to make a profit how much do you need to pay in tax? If you don’t forecast, you don’t know. Be prepared. Create a plan. Prepare a forecast.

Accounts receivable may not be exciting, but it helps you get paid. In business, it doesn’t get much more important than that. We can help you create a consistent, effective accounts process – and keep that money flowing.

Create a watertight accounts receivable process Accounts receivable is about getting paid for the work you do – in business, it doesn’t get much more important than that. The process covers every part of the payment lifecycle – finding customers, communicating expectations, billing correctly and following up on late invoices.

Sending good vibes before we ease into the weekend! Happy Friday!

Is cash flow tight for your business at the moment? Temporarily trimming what you take from the business will boost your recovery. We can help you reduce the strain and improve cashflow as you rebuild with a
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What do you want from your business? When you started your business, you probably dreamed about flexible hours and highly profitable, stimulating work. Ideally, you would’ve adopted best practice and documented those dreams in a succinct Business Plan.

Prepare to be embarrassed!

Coronavirus has taught us so much, it’s really highlighted for me how much we like being around each other!

What’s stopping you from getting started?

If it’s accounting let us help!

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Retail is becoming increasingly competitive and consumers have a lot more choice on where to shop. That’s why it’s essential that you come up with ways to make your store/e-store more memorable.

Link in comments.
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Love the last point! .
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It takes time to build a successful business.

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Everyone starts somewhere!

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New blog! Link in comments.

Consider outsourcing to free up your time and focus on what you do best!

Have you been thinking of taking your business online?

Taking your business online could be easier than you think. Read our article here:



https://www.farmersguide.co.uk/2020/10/is-selling-online-the-way-forward/

Is selling online the way forward? Could e-commerce be the next step for your business? With a bit of planning you could be up-and-running faster than you thought, according to accountancy firm Carmichael Kingham & Co.

Read part 2 of our 3 part series on the fundamentals to scaling your business.

Link in comments.

Growth brings increased opportunity, but at the same time, increases risk. Poorly managed risk can cause failure, even if the business is growing.

Read part 1 of our 3 part series on the fundamentals to scaling your business.

Link in comments.

What are you doing to build yourself a more successful business? There’s no magic pill, it’s about taking small steps every day to get a bit better than the day before - it all adds up. about to build a better business.

https://carmichaelkingham.com/blog/post/building_a_better_business_in_10_steps

Looking to scale your business?

Consider outsourcing the following to better leverage your time: marketing, design, admin, CFO, bookkeeping & payroll!

We've written a blog on 6 services you should consider outsourcing.

Need help?

Link in comments.

Top 6 things to outsource in your business | Carmichael Kingham & Co Corporate Accounting + Advisory Services

https://carmichaelkingham.com/blog/post/create_a_one-page_business_plan

Can't wait for this, not long now!

Search participating restaurants in your local area using the postcode search, link in comments.

Me when I get the phonetic alphabet right (which is almost never)! I have the correct one printed out on my desk because if I'm under pressure I can never remember it. For a laugh check out my version in the comments.

As well as providing and advice we aim to remove the burden that comes with running a business, we spoke about this with Farmers Guide

https://www.farmersguide.co.uk/2020/07/using-apps-can-take-the-stress-out-of-book-keeping/

Using apps can take the stress out of bookkeeping When you think of a traditional accounting practice your first thought probably isn’t ‘cutting edge technology’ and for most firms you’re right. Many accounting firms have not embraced technology a…

Is your business in the hospitality sector? Register your business for the Eat Out to Help Out Scheme here:

https://www.gov.uk/guidance/register-your-establishment-for-the-eat-out-to-help-out-scheme

We’ve partnered with Starling!

It’s the bank we recommend to our clients anyway (because of the benefits below) and now we’re officially a Starling Bank referral partner!

Some of the benefits of using Starling:
- No monthly account fees
- Speedy setup - apply in minutes, with no three week waits.
- Integrate with our accounting software provider of choice -
- 24/7 UK customer support
-Real time payment alerts and categorised transactions for spending insights.
-Easy deposits - deposit money at over 11,500 Post Office branches*. Send cheques via freepost, too.
FSCS protection We’re a fully registered bank and the FSCS protects any money you keep with us up to £85,000 for eligible customers.**

Yesterday the Chancellor announced a £30bn stimulus package to help UK businesses and individuals, this package is particularly applicable to businesses in the hospitality sector. We've summarised the key points here:

https://carmichaelkingham.com/blog/post/30bn_uk_government_summer_economic_update

Check out our tips on diversifying your agricultural business here: https://www.farmersguide.co.uk/2020/05/top-tips-for-diversifying-your-business/

Top tips for diversifying your business

How can we help you?