Retail

Retail

Accounting for a buyer’s market

Retail is the lifeblood of the high street, bringing in millions of pounds each year and providing jobs for many. But the industry is known for its fast-paced environment, and keeping track of your business and its books can be a tall order.

Our specialists know the retail industry inside and out, and can help in every way possible to lighten your workload.

Within the retail industry, there are multiple VAT schemes you need to keep track of. Services and goods have varying VAT rates, so knowing how much to pay to HMRC each year can be a considerable amount of admin.

Being able to predict the quiet and busy periods throughout the year can be difficult. Apart from the obvious upticks around Christmas, the rest of the year can vary.

Having seasoned accountants by your side will help you set your budget and make cashflow projections, staving off any problems before they arise.

If you are considering branching out into eCommerce, we can advise on that too. We offer support on imports and exports as well as consider any EU VAT rules. We can integrate your accounts with sales reports from your market platforms, such as Amazon or eBay.

Find out how we can help your retail business by getting in touch.