IS YOUR BUSINESS LOOKING GOOD?
Garstang accountancy firm, Towers + Gornall has seen a large growth in its health and beauty sector clients in the past year
Towers + Gornall’s beauty sector department is headed by Chloe Bardsley, who trained initially as a hairdresser before switching professions and becoming a fully qualified accountant (ACCA).
Chloe notes: “In the past months we have seen a large number of new businesses starting up in the health and beauty industry. These include hair salons and mobile hairdressers, barbers, beauty salons and mobile beauticians, nail technicians, make-up artists, aesthetic practitioners and medical cosmetic clinics.”
Acting for these businesses is not always as straightforward as people may imagine. With the introduction of Making Tax Digital (MTD) next April, almost all businesses that are VAT registered will have to re-evaluate how they currently record their business transactions. “This is a major change to VAT registered businesses in the UK and yet a recent poll suggested that up to 40 per cent of business owners had never even heard of MTD,” Chloe explains. One of the main concerns at Towers + Gornall is to educate their clients as to what is happening before next April.
One particular area of growth has been in the aesthetic industry.
“We now have quite a few businesses who have started up in the last couple of years and they generally seem to be experiencing rapid growth. This is fantastic news for the businesses, but it does lead to new dilemmas, particularly in relation to their VAT. Treatments can vary within a business and it may be that some incur VAT and some do not. We would advise anybody in this area of business to be fully aware of the VAT legislation and how it may affect them.”
Towers + Gornall are very excited to announce that they will have a stand at Professional Beauty North 2018. This is a great event hosting a fantastic range of exhibitors, live demonstrations and advice and you can even walk away with exclusive special offers. A few staff members from the Towers + Gornall team will be present at the exhibition on 21st and 22nd October at Manchester Central to answer questions from prospective and existing clients in a relaxed atmosphere. There will also be live demonstrations of some of the cloud-based bookkeeping software options available, one of which you may be eligible to use free of charge.
Even if you don’t want to talk tax, a warm welcome will be waiting for you at the event, and you can even enter the Towers + Gornall prize draw to win a spa break voucher!
Towers + Gornall are aware of the pressure that most business owners are placed under and are passionate about helping clients lead comfortable lifestyles with a healthy balance of work and play! Several studies have shown that long working hours and an imbalance in professional and personal commitments can lead to adverse effects on both cardiovascular and mental health. Towers + Gornall aim to reduce this unnecessary stress by offering a wide range of services to meet each client’s individual needs. Their clients are top priority and the firm take pride in always being on hand to offer advice when needed.
Towers + Gornall will be present at the Professional Beauty North 2018 exhibition on 21st and 22nd October at Manchester Central to answer questions
Towers + Gornall
Abacus House, The Ropewalk
Garstang, Preston PR3 1NS