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Elevate your eCommerce business in 2024 with the following techniques and trends:

1. Gather First-Party Data:�
The inevitable disappearance of third-party cookies will be a huge blow to advertisers. This is a great time to focus on gathering first-party data. Some ways to do this are leveraging gated reports in exchange for users’ email addresses, conducting surveys and quizzes in exchange for discounts and exclusive content, etc.

2. Go Green:�
Sustainability is a hot topic in these unstable times for our planet. More and more consumers choose brands that make efforts to lower their environmental impact. This can be done by selling secondhand or upcycled items, offering sustainable shipping options and using recyclable packaging. In fact, consumer surveys reveal that 8/10 UK consumers believe that most online stores use too much packaging, while over 80% prefer eco-friendly packaging materials.

3. Inbound Marketing:�
This refers to all activities that attract traffic and increase online visibility. Strategies like blogging, creating social media campaigns, and uploading videos are not only less expensive than outbound or traditional strategies, but also deliver higher returns. Some beneficial strategies to focus on in 2024: short-form video content, influencer marketing, chatbots and AI, content marketing.

4. Expand to Local Marketplaces:�
Keeping it local can expand your audience reach and eliminate competition. It’s natural to think about global marketplaces like Amazon and eBay when selling a product, but venturing into other countries’ local marketplaces is a great strategy to consider.

5. Mobile Commerce:�
Commercial transactions via apps and mobile sites can greatly increase your sales. Some trends to look into are one-click ordering, augmented reality (AR), zero-party data for personalized product recommendations, chatbots and voice search�.

These tips and many more on how to improve your marketing techniques for the year to come:
https://influencermarketinghub.com/ecommerce-marketing-tips/?fbclid=IwAR3BoSxDgMhCaucA0C6phRbhWLj4ujj2XtUXpkUd0sLaZ6_-SG6h_DoFaXQ

Stay tuned for the latest news on taxes and investment strategies, and don’t hesitate to reach out to our team for support with bookkeeping and accounting.

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Cryptocurrency has taken the world by storm since its debut in 2009, with its worldwide market capitalisation estimated at £621 billion in 2022.

A Forbes survey has shown that 65% of the investing public has assets in cryptocurrency. About 4.97 million people in the UK hold some form of crypto asset, which is nearly 10% of the country's population. The majority of crypto investors worldwide are between the ages of 18 and 34.

As shown on the first graph, 74.4% of crypto investors report having made a profit - though only a minority (8%) deems it very profitable.

According to the Forbes Advisor survey, most people report choosing cryptocurrency because it is easier to invest via an app, and easier to understand than other investments (graph 2).

Has cryptocurrency been profitable to you, and what was your reasoning to get into it?

These stats and many more on
https://www.forbes.com/uk/advisor/investing/cryptocurrency/cryptocurrency-statistics/

Stay tuned for the latest news on taxes and investment strategies, and don’t hesitate to reach out to our team for support with bookkeeping and accounting.

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As the new year approaches, here is some guidance and advice for your 2024 investments:

1. Stay focused on your long-term goals. Don’t let bad news and stories blow you off course. Generally, bad headlines indicate a great time to invest, though it may not seem like it at the time. Stick with quality companies with low debt and a strong record of surviving difficult markets.

2. Diversify your investments to weather the curve balls that will undoubtedly come our way in the new year.

3. It may be worth looking into government and corporate bonds, while yields remain at the current attractive levels. Many investors have ignored this asset class since the global financial crisis. However, bonds now offer compelling returns and can provide some welcome diversification.

4. Mitigate the effects of UK inflation by investing in stocks and shares, commodities, property, gold and overseas assets.

5. Investment sectors to consider in 2024: government bonds such as UK gilts, US small capitalisation stocks and emerging markets, healthcare, energy shares and AI.

Read more on this topic as discussed by a panel of experts:
https://www.forbes.com/uk/advisor/investing/stock-market-investment-outlook-2024/

Stay tuned for the latest news on taxes and investment strategies, and don’t hesitate to reach out to our team for support with bookkeeping and accounting.

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If you are selling products on Amazon, you may have noticed that their ranking algorithm does not appreciate items going out of stock. Once your Best Seller Rank (BSR) goes down, your visibility and sales drop. It can be challenging to recover and regain your position. Amazon’s BSR is calculated based on your sales volume, sales history, category popularity, competitive products, price and product variety, as well as promotions and advertisement.

If you’ve experienced a drop in your Amazon ranking due to being out-of-stock, here are some things you can do:

Firstly, try to avoid going out of stock in future. Though this sounds obvious, it isn’t always easy. Here are some tips and tricks for when your inventory is running low:
- Contact your suppliers ASAP. Try to get an accelerated replenishment of your inventory. Even if you have to pay extra to get a faster restock, it will prevent you from losing visibility and sales.
- Add a restock date on Amazon Seller Central. Activate the “temporarily out of stock” notice on your account by specifying a restock date. This enables you to accept back orders for up to 30 days prior to your inventory arriving.
- Close your listing a few units before selling out. This is a better strategy than trying to slow down sales by increasing price or stopping your ad campaigns, as the sudden slowing down of sales can have a greater negative impact on your ranking. Closing the listing helps you preserve sales data and signals to Amazon that you’re a responsible seller. Make sure to CLOSE the listing, not delete it. Once you have inventory back in stock, you can easily reopen it.

By not being penalised harshly for running out of stock, you’ll have an easier time reclaiming your ranking once your products are restocked.

Here are some ways to recover organic ranking after being out of stock:
- Competitive pricing and discounts
- Pay-Per-Click (PPC) advertising campaign
- Promotional coupons
- External traffic campaign (Google ads, social media, email list …)
- Optimise your listings with relevant keywords, high quality images, clear product descriptions and appealing content
- Encourage customers to leave positive reviews
- Focus on customer engagement
Essentially, looking at the restock as a re-launch of your products and using effective launching strategies will help you get your ranking back up.

Read more about the repercussions of going out of stock & how to prevent it here:
https://www.brandbuilderuni.com/blog/running-out-of-inventory-amazon-fba
https://gotrellis.com/out-of-stock-on-amazon/?fbclid=IwAR09IaGV39qXrK60-sikNAvRm3Ge6mswFsyd_F4iXDj2lAjNpIFf6TAg7sU
Best practices to improve your Amazon BSR:
https://www.sellerapp.com/blog/become-amazon-best-sellers/

Stay tuned for the latest news on taxes and investment strategies, and don’t hesitate to reach out to our team for support with bookkeeping and accounting.

www.accountsrepair.com

Crypto-friendly tax laws, the recent launch of digital nomad visas, low living costs and high quality of life have created a haven for expats and digital nomads in Lisbon.
With regular industry gatherings, the city offers like-minded crypto enthusiasts many opportunities to get together and exchange ideas.
The stunning coastal city has been called “the most important crypto hub on the planet, outranking New York, Berlin and Singapore” by crypto investment firm Greenfield.

If you are a digital nomad, investing in crypto and/or considering moving abroad, don’t overlook Lisbon!

Read more about the city’s benefits and resident testimonies here:
https://www.cnbc.com/2023/09/09/what-its-like-in-europes-crypto-hub-portugal-as-the-us-cracks-down.html

Stay tuned for the latest news on taxes and investment strategies, and don’t hesitate to reach out to our team for support with bookkeeping and accounting.

www.accountsrepair.com

Here are some strategies to legally reduce your taxes on cryptocurrency in the UK:

1. Harvest your unrealised losses:
You’ll have unrealised losses if the price of your crypto has dropped since you bought it. When facing a large tax bill, it can be beneficial to harvest them by selling at a loss (tax loss harvesting). Important to note: HMRC does not allow wash sales - selling for a loss, then immediately repurchasing the same token.

2. Utilise the trading & property allowance:
If you make less than £1,000 from crypto, you don't need to declare it to HMRC. You’ll have a £2,000 tax-free allowance if you're investing in both trading and property. Tax-free thresholds are an easy way to pay less crypto tax, especially if you only have small amounts invested.

3. Invest in a pension fund:
Although it’s not the most straightforward process, investing crypto in a pension fund is possible in the UK and can provide some welcome tax relief.

4. Make a donation or gift crypto to your spouse:
You can lower your capital gains tax burden by donating some of your crypto profits to charity. You’ll get a deduction worth the full value of your crypto, including any capital gains.
Transfers between spouses in the UK are currently exempt from CGT. The ownership of assets can be transferred between partners, so that both of your annual CGT allowances can be combined and used against gains.

5. EIS & SITR investments:
You can defer a portion of your crypto tax bill by investing in one of two government schemes. If held for three or more years, gains made on investments in an Enterprise Investment Scheme (EIS) and Social Investment Tax Relief (SITR) are free from CGT.

Read more about your different options here: https://koinly.io/how-to-avoid-crypto-taxes-uk/?fbclid=IwAR1shMJQFt70keajHS_3d_bVEi6-CUeJ5q2TQnSiXglYVP9R1XkQZ3R8Y3E

Stay tuned for the latest news on taxes and investment strategies. Don’t hesitate to reach out to our team for assistance with your bookkeeping and accounting endeavours.

www.accountsrepair.com

Index funds are an ideal way for beginners to start investing in the stock market. They are low cost, and the managing firm does the hard work for you.

They are designed to mimic the positions and performance of a specific index. When you buy shares in an index tracker fund, you are basically putting your money into a giant pot with lots of other investors. The fund manager then invests this capital into all the companies of the underlying index.

The best performing index funds in 2023 are iShares Core FTSE 100 ETF, SPDR S&P 500 UCITS ETF and Vanguard FTSE 250 UCTIS ETF.

Read more about how it works, the role of the management company and how you can start investing here:
https://www.fool.co.uk/investing-basics/how-to-invest-in-shares/how-to-invest-in-index-funds/

Stay tuned for the latest news on taxes and investment strategies, and don’t hesitate to reach out to our team for support with bookkeeping and accounting.

www.accountsrepair.com

Have you always dreamt of a lifestyle of freedom, adventure and travel whilst making an income online?
Or are you a digital nomad looking to broaden your horizons?

Digital nomad visas are becoming increasingly popular since the COVID-19 pandemic. They are temporary resident visas that allow someone to live abroad and work online - generally for up to one year, sometimes longer. Digital nomads are completely location-independent and can do their job anywhere in the world. To apply for this type of visa you must work for an employer who is based in your home country or be self-employed.

�Here's a list of 28 countries that offer these visas, including details on the application process, fees and advantages of each country:
https://www.techtarget.com/whatis/feature/Digital-nomad-visas-destinations-offering-them

Many young UK investors may be forced to sell their fractional shares in Isa.

Last week, HM Revenue & Customs held a meeting with Treasury officials and industry figures, during which it stated that this type of investment could not be held within a tax-free account.

According to Adam Dodds, chief executive of investing app Freetrade, “Isa rules need to be clarified to put this matter beyond doubt, explicitly allowing for fractional shares as a qualifying [Isa] investment.” He encourages customers to lobby the Treasury on the issue.

For next week’s Autumn Statement, chancellor Jeremy Hunt has been urged to clarify his position on this issue.

In case HMRC prevails, investors will be forced to sell down their fractional holdings within Isas. They could also be required to face penalties for late payment and pay tax on gains.

These measures would be a big setback for young investors and may hold individuals with small sums of money back from building tax-free investments for the future.

Read more about it here: https://www.ft.com/content/69f5f445-98b7-4911-8e36-d26bd2545344

Would this clash between tax authority and brokerage platforms affect you?
Stay tuned for the latest news on taxes and investment strategies, and don’t hesitate to reach out to our team for help with bookkeeping and accounting.

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For the past 4 years, successive chancellors have frozen UK income tax thresholds, affecting taxpayers in England, Wales and Northern Ireland.

The following freezes were already in place until 2026, but will now be extended until 2028:
• the personal allowance threshold at £12,570
• the higher-rate threshold at £50,270.
Freezes to the various National Insurance contribution thresholds are also in place, which are important to be aware of alongside income tax.

This policy results in what is known as “fiscal drag” – when thresholds do not keep up with inflation, pulling more and more people into higher tax brackets.

Read more about it here:
https://www.theguardian.com/business/ng-interactive/2023/oct/02/uk-income-tax-how-fiscal-drag-leads-to-people-falling-into-higher-rates

What are your thoughts on this?

Stay tuned for the latest news on taxes and investment strategies, and don’t hesitate to reach out to our team for help with bookkeeping and accounting.

https://uk.finance.yahoo.com/news/rc365-stock-next-nvidia-080046160.html

“Nvidia, for instance, soared from £0.40 to over £400, resulting in gains of around 100,000% on the stock market.”