Retail and Consumer Goods Businesses - Accounting and Taxation
While high-street prices decrease and production costs increase, our UK retailers are being squeezed out of their profits. Businesses are consolidating, changing hands, cutting staff and reinventing operations and processes. You are competing with supermarkets, discount stores and direct internet sales. You’re also coping with new time-saving stock control technologies.
Apart from the regulatory changes facing listed companies, retailers as a whole must consider key tax issues including National Insurance, Corporation Tax, VAT, excise and environmental and property tax regulations. You must pay attention to supply chain management, stock control, employment costs v/s value, remuneration, share schemes and pensions.
EuraAudit UK has been working with local retailers for 70 years – keeping up-to-date with the latest trends, legislation and tax issues that affect you. We are committed to growing the local economy and the retail sector through providing sound financial advice to improve financial control, operational processes and growth.
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Today’s Challenges in the Retail Sector
Offshore outsourcing saves you money but brings with it cultural, environmental, legal, financial and ethical issues to cope with. This makes it necessary to fully evaluate financial and other risks and put in place a plan for Corporate Social Responsibility.
The New Breed of Consumers
There is a lot of question as to whether the new ‘value’ consumer is here to stay and our guess is that although people will spend more money when times look up, they will continue to demand more value for their money.
Technology and Marketing
The good news is the internet has levelled the playing field for large and small companies and dramatically changed the marketing strategies required to compete effectively. Everyone has a fair chance.