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  WINTER 2017

In this Issue

Client Profile Barnton Pharmacy
VAT FRS - Punctured Or Just Flat?
Inside The Cloud
New Year... New Accounting

Office Gossip

Excellent Clients
The Chamber of Commerce's Business Excellence Awards.
A Night At The Theatre
Paul's son writes, casts and directs the 'World War Skittle'.
Party Time At Springfords
Fun and games at our 11th annual Kids Christmas Party.
Thousand Pound Thursday
Kirsty's nuisance caller delivers a Christmas surprise.

Useful Links

Springfords Website
Springfords Brochure
Companies House
HM Revenue & Customs
Scotsman Newspaper

Contact Us

Dundas House, Westfield Park, Eskbank, Edinburgh, EH22 3FB
T: 0131 440 5000
Alba Innovation Centre, Alba Campus, Livingston, EH54 7GA
T: 01506 242002
Falkirk Business Hub, 45 Vicar Street, Falkirk, FK1 1LL
T: 01324 227606
F: 0131 440 5001

Client Profile Barnton Pharmacy & Travel Clinic

Starting a new pharmacy business in March 2010 was not without its challenges for Leanne Carey and Sally Arnison.

But they were certain their mixture of experience and industry knowledge would lead to success.

Fast forward seven years, and their enthusiasm, expertise and innovation has led to year-on-year growth, and several UK awards.

More on Barnton Pharmacy >>

VAT FRS - Punctured Or Just Flat?

In his Autumn Statement, the Chancellor announced proposals that may take away some of the benefits of the VAT Flat Rate Scheme (FRS).

The Scheme has helped smaller businesses by simplifying their VAT reporting.

Many businesses using the scheme also found they were paying slightly less VAT than under normal accounting. Such a situation has of course led to some deliberate abuse of the scheme.

And tackling that abuse is the reason behind the Chancellor's proposals.

Read our article to find out more.

More on VAT FRS >>

Inside The Cloud

Is cloud-based accounting really as good as it sounds?

The concept certainly makes sense.

Instead of accessing accounting software on individual desktops connected to an old server in the office, users simply connect to the Internet.

But there are several important factors to weigh up before deciding whether cloud-based services are right for your firm, including your existing accounting procedures, IT system and security.

Springfords participate in the Praxity Global Alliance, and in his article, Ian Lavis from Praxity sets out some of the main issues of switching to cloud-based accounting.

Read the Praxity article >>

New Year... New Accounting

While you were celebrating the coming of a New Year, a set of new financial reporting standards came into force. The standards affect some key accounting rules for small businesses, including:

  • Investment properties
  • Fixed asset valuation and depreciation
  • Foreign currency
  • Operating leases
  • Holiday pay accruals
  • Deferred tax

Some of these changes could be far reaching and may impact your business, so read our article for more details. If you need more information, contact your Springfords representative.

More about the new standards >>

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