Footprint Business Consulting

The world of business rides the tides of the flow of funds to keep their boat afloat and make a profit at the same time. But the market economies are changing and people have to be careful with the limited budget they have to run their business. Many organizations are taking drastic steps and cutting back in various operations to match their limited budget. However, in the process they tend to loose skilled professionals at times that are an integral part of the whole system. Many functions can stop if necessary people are gone to continue the flow of business. Some professionals tend to leave the organizations when they feel that they cannot support the organization at their expense, and this is a situation that can never be avoided.

Hence, thinking of a freelancing option is the right path to take that not only fulfills the void left behind by the missing people but also help adjust the functions in the remaining limited budget. Contractor expenses are much more affordable when they are compared to a full fledged employee in the system, which also have to be given different benefits according to the law of the land. This is also a great option for people who are ready to work as freelancers to have more flexible hours of work. Moreover, there are many professionals who have personal problems that do not allow them to work full time. This gives them a chance to devote a part of the schedule to make a living on the side, and take care of their problems at the same time. Read more…

VAT returns are a necessary evil for most companies. Few companies enjoy doing their VAT returns, but it is a government tax, and failure to make the necessary returns is an offence that no company can afford to make. VAT returns are made at the end of each VAT period, which is usually every three months. There is a definite format to follow, and the forms are really quite easy to get to grips with after just a short while.

VAT stands for value added tax. It is a tax on sales and it is calculated as a percentage of the total sale. In this way it is similar to the sales tax imposed in the USA. However, VAT is a more complicated form of tax than the American sales tax, and can appear impossible to understand at a first glance for many. France was the first country to introduce a form of VAT in 1954. Dr. Wilhelm von Siemens, the German industrialist, had proposed the system in 1918, however.

It is usual, in the UK at least, for VAT to be added to the total price the consumer pays. When the tax was initially introduced in the UK on April 1st, 1973, it was common for items to be priced as normal, but have the VAT added when the customer paid at the till. This was not a popular way of paying the tax, and before long most companies had adopted the idea of adding the VAT first and presenting the item price plus the VAT to the customer as the total price they were required to pay.

This is how VAT is paid today. Few people try to work out the price of an item minus the VAT before they pay it. We have all become used to the idea of paying the full amount, knowing that VAT is included. This is easier for most people to understand and accept, though no doubt most of us would be happier if we did not have to pay VAT in the first place. Read more…