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Chartered Accountants

Trusted advisers of all tax compliance and annual accounting issues facing both individuals and small businesses.

Strategies to put an end to negative office gossip

Posted on Sep 24, 2018 by admin

Negative gossip in the office is something that is harmful both to your business and to the employees. Whether it encourages individuals to seek work in a less toxic environment, slows down productivity, creates friction between team members or morphs into a legal problem with accusations of bullying and harassment, it is something that managers should put a stop to as soon as possible. Walk the walkIf you are a manager, employees look to your actions as what expectations of behaviour are in the workplace. If a manager is ever seen engaging in the behaviour, they prohibit this acts to […]

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Everything you need to know about payday filing

Posted on Sep 24, 2018 by admin

From 1 April 2019 employers must comply with the new payday filing scheme. The due date for employer deductions filing and payment remains the same as the 20th of the month. Employers must: File employment information every payday instead of an Employer monthly schedule Provide new and departing employees’ address information, and their date of birth- if they have provided it to you File electronically (from payday compatible software or through myIR) if your annual PAYE/ESCT is $50 000 or more. How to payday file Employers must Include employment information (and correct a file), employee details and employer deductions. It […]

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Using your credit card wisely

Posted on Sep 14, 2018 by admin

A credit card can be a useful way to pay for the things you want in life. But if you do not keep track of your credit balance, you may find your credit card more of a costly burden to your wallet. Consider these strategies to help you use your credit card smarter. Make payments on timeAlways ensure you can repay your credit card on time and never just pay the minimum payment each month. In this way, you can avoid paying higher interest in the long run. It may also be wise to switch to a credit card with […]

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How to make the most of your networking event

Posted on Sep 14, 2018 by admin

Whether networking events are a perk of your job or a necessary evil, they are an inevitable part of the business. What you have to remember is that networking events are an opportunity to find a new job, expand your business network and share your ideas. Whatever your agenda there are a few useful tips and strategies to remember to ace the event and put you on the path to kick career goals. Set a goal for the event It is essential to know your aim for the event to prevent time wasting and present a purposeful appearance. Setting a […]

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When to get a business partner

Posted on Sep 14, 2018 by admin

Starting and running a business can be a lot more fun when you are working with someone you like and respect. With a partner, you have someone to share the excitement and risks of running a company; someone to bounce ideas off of; to help shoulder the financial and workload burden. But partnerships have their perils. Over time, partners are likely to have disagreements, resentments, changing goals and lifestyle choices. Partners may also have conflicts about how to spend money, who to hire, which direction to take the company. When partners do not get along, the business inevitably suffers. Before […]

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Strong leaders ask for help

Posted on Sep 6, 2018 by admin

There is no weakness in a leader who asks for help. Maintaining success in your small business requires you to seek advice from your employees on a range of matters. However, it is important to ask for help in the right way, so your team does not lose confidence in your leadership ability. You need to communicate that you are asking for input or advice rather than help because you are floundering. Consider these ways when asking for advice from an employee: Ask a ‘specific’ question Avoid asking a vague question and get specific. What exactly do you need from […]

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Strategies to attract high-end customers

Posted on Sep 6, 2018 by admin

Maintaining a stable revenue is essential to keeping your small business afloat – which is why attracting high-end customers is the most effective way to grow healthy profit margins. The difference between a high-end customer and a regular customer is simple. A high-end customer has no problem paying on time and the cost involved. Rather, they care more about receiving the highest quality of a product or service available. Consider these strategies to attract high-end customers to your business: Quality must match the price You must be worth the price you charge. To attract high-end customers, you will need first […]

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Managing your working capital

Posted on Sep 6, 2018 by admin

Working capital is the money needed for day-to-day business operations and is often a measure of a business’s liquidity, efficiency and financial health. To ensure your business has adequate working capital, the working capital cycle should be applied. The working capital cycle is the length of time from the purchase of inventory to the receipt of cash from customer sales. The cycle comprises four elements: cash (funds available), creditors (accounts payable), inventory (stock on hand), and debtors (accounts receivable). Maintaining good cash flow requires control over each component. Ways to improve working capital: Invoicing To collect payments from debtors early, […]

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Body language tips for success

Posted on Aug 29, 2018 by admin

The body language you use when speaking to another individual will affect the impression they form of you. Professional body language is as important as the verbal communication you use; it can grow or hinder the relationships you develop with other professionals throughout your entrepreneurial career. To master the art of body language, consider these handy tips: Avoid lazy posture Never slouch in front of another individual in a professional environment. It tells the other person you do not care for what they are saying and will harm any professional relationship you try to develop. Keep eye contact By maintaining […]

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Consider business structure

Posted on Aug 29, 2018 by admin

Creating a new business is an exciting time for any first-time entrepreneur, but it also comes with making big decisions – one of these will be when you must choose which structure your business will take. Whether you are looking to form say a company or a partnership, it is important to know that there are varying legal and financial requirements that surround each one. Ask yourself which structure will best help your business to grow and flourish? For instance, many small businesses are set up as a sole trader. A sole trader is one individual who owns the business. […]

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For many years now Garry Hughes of BDS Hughes Chartered Accountancy and his team have provided us with an exceptional professional service. We have found Garry‘s knowledge in his field of taxation, business planning and financial matters of great value to us, along with providing us additional recommendations for improving our business strategies. We would recommend their friendly and professional services to anyone who is looking for an accountancy service that will improve their business performance.
Jane HandleyDirector Rug Doctor

Latest news

Everything you need to know about payday filing

Posted on September 24, 2018 by BDS Hughes

From 1 April 2019 employers must comply with the new payday filing scheme. The due date for employer deductions filing and payment remains the same as the 20th of the month. Employers must: File employment information every payday instead of an Employer monthly schedule Provide new and departing employees’ address information, and their date of birth- if they have provided it to you File electronically (from payday compatible software or through myIR) if your annual PAYE/ESCT is $50 000 or more. How to payday file Employers must Include employment information (and correct a file), employee details and employer deductions. It […]

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