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Sophie Michael
BDO’s High Street Tracker tells a story of two halves this month, on the one hand online discounting has boosted sales growth to +11.6%, but in-store sales record a flat growth of just +1.8%. There are many reports of high discounting in September where retailers with excess inventory due to poor summer months of trading are clearing stock and creating necessary cashflow in time for the "Golden Quarter". This overall squeeze on already tight profit margins is disappointing for retailers. Read the full story in today’s City AM Online discounting gives retail a boost but puts margins under pressure (cityam.com)
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Nikki Bowman
VAT changes are here! Effective from 1st April 2024, the VAT registration threshold has been increased to £90,000. This means more businesses can benefit from simplified VAT requirements. And if your taxable turnover drops below £88,000, you can now deregister. Stay informed and stay ahead! 01908 751020 [email protected] #miltonkeynes #miltonkeynesbusiness #accountant #miltonkeynesaccountant #selfassessment #vat #compliance #payroll #payrollservices #ukaccountant #businessservices
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The Lady Accountant
📈💰Monthly accounting helps ensure your turnover doesn’t accidentally exceed the £90k VAT threshold. We can help you monitor your sales to ensure you don’t exceed the threshold. ↗️ Get in touch with us by booking a consultation call, to discuss how we can help your business with our monthly accounting services. ✨📞🔗 #vat #monthlyaccounts #monthlyaccounting #vatthreshold #vatplanning #taxplanning #monthlyaccounts #ukbusinesses #hmrc #VATtips
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Sophie Michael
Another negative month for BDO’s High Street Sales Tracker report, with the worst set of results since January 2021. As we approach the final weeks of the so-called ‘Golden Quarter’ it is difficult to see light at the end of the tunnel for retailers as widespread discounting throughout November has failed to deliver a boost to consumer spend. Retailers will also be seeking what actions are within their control to mitigate some of the further cost challenges they will face form the Autumn budget from April. https://lnkd.in/eyzgMRJm
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Martin Hamilton
Following on from the budget yesterday, please find my Autumn Budget 2024 Retail Commentary. Not great reading, sadly therefore retailers will have to keep improving the experience the customer has when they come into their stores. That may mean holding in store events or changing store layouts to be more interactive to attract more customers; either way the most creative retailers will likely have more chance of success. Finally, ensuring that the ecommerce side of your business is being promoted to either direct traffic to your shops or to provide a different range of products will help, given the reduce costs for ecommerce businesses. All profits made by ecommerce could assist the bricks and mortar stores. Menzies LLP #autumnbudget2024 #MenziesRetail #budget #Chancellor https://lnkd.in/ezkV2ZPW
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Zelf Hussain
As we head into the Golden Quarter, UK retailers continue to experience a mix of topline pressure and cost headwinds. Black Friday spending is projected to rise to £7.1 billion, marking 17% rise per person compared to last year according to PwC UK. I’ve been exploring what consumers are looking to purchase and the categories they are prioritising. 💄👚📺 You can read more here: https://pwc.to/3OgRbQT #RetailOutlook
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