Stock-Take Due?

It is usual to carry out a valuation of stock at least annually in any retail outlet.  Unfortunately, many traders still make a guess/estimate and declare the stock to be “about £XX,000”. 

They do this without necessarily realising the implications of their actions.  If the value of stock is overstated by £1,000 they will show profits of an extra £1,000 to HM Inspector of Taxes, resulting in an additional tax and National Insurance liability between £290 and £490!!!! Perhaps worse, if the stock is undervalued they may think that the business is less profitable than it really is.  

The cost of annual accurate stock valuations is often far outweighed by the benefits of accurate accounts, and the cost is often offset by reduced pilferage simply because “the stock takers are coming”.
HMRC will also give more creditability to your accounts if you have an independent stock valuation.  So what would you like to do, possibly pay the Tax Man more than is due or have accurate accounts and really know the true profitability of your business?

You know it make sense so give us a call now to arrange your next stock take

Just Telephone 01263 821478

Email: info@ras-uk.com

Stock Takers can get very busy at certain times of the year and certain times of the month.  To be sure that you have your choice of stock taker:

NOW IS THE TIME TO ORGANISE YOUR NEXT STOCK VALUATION

For a limited period book your stock take 3 months in advance and enjoy a 15% discount.  

RETAIL ACCOUNTING SERVICES LIMITED
Retail Specialist for the Independent Retailer

Contact today, for your free audit - Retail Accounting Services 01263 826865