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What’s the difference between mark up and margin?

When pricing your services and products it is important that you do so in order to make a profit. Most businesses will look at either mark up or margin to come up with their prices but not everyone…

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We are Certified Xero Advisors!

Once again, we have re-certified as Xero Advisors! Having first taken the course and passed the tests over a decade ago and continued to do so ever since, we have once again re-certified as Xero approved official Advisors.…

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Is there VAT on public transport?

We are often asked by clients what VAT is applied to public transport, and what they can claim back on their VAT returns as input VAT. The short answer is, usually nothing. Trains and buses Trains and public…

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HMRC adds over 3,000 new compliance staff

In a bid to reduce fraud and error, HMRC have employed over 3,000 new staff in it’s compliance department since the end of the 21/22 year, an increase of 12% in just one year. A report by the…

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What are the different VAT rates and what do they mean?

We are often asked ‘what all the different VAT rates are and what they mean?’ Zero-rated is the same as Exempt, right?  Wrong.  Read our guide below to make sure you understand the difference between all the rates…

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The tax gap increases by £3.8 billion for 21/22

HMRC has estimated that the tax gap across all taxes has increased to £35.6bn. The tax gap is the is the difference between the amount of tax paid to HMRC and the total amount of tax that should…

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When do you need to register for VAT?

When do you need to register for VAT? You need to register your business for VAT if your total VATable turnover goes over £85,000 in any rolling twelve month period, or you expect your turnover to exceed £85,000…

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We are Certified Xero Advisors!

Once again, we have re-certified as Xero Advisors! Having first passed the tests a decade ago and continued to do so ever since, we have once again re-certified as Xero approved official Advisors. This means we are experts…

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We are a Silver Partner with Xero!

We make no secret that we love Xero here at Flamingo Accounting! And we are also happy to continue as a Silver Partner with them. Our team of Certified Xero Advisers have been using and implementing this software for years and believe…

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Top Ten Things to consider when choosing a new accountant

Whenever potential new clients approach us, it is often because they are not happy with their existing accountant, or because they are a new business and don’t know how to select an appropriate one that will suit them…

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