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How to tax income from private boarders
If you receive income from private boarders, including student homestays you can choose either the standard-cost method or the actual-cost method to work out whether you have to pay tax on this income. The standard-cost method The standard-cost method uses an average price for basics such as the cost of food, heating, power and transport. The amount is an average across the ...
If disaster strikes, what happens to your tax, bills and any staff?
Emergencies that force you to stop trading, like earthquakes, floods or fires, come with little or no warning. To give your business the best chance of survival, you need a contingency plan. Make sure it includes what happens after disaster strikes, when less — or no — money might be coming in. Contingency plans benefits It's all too easy for time-poor small ...
How to handle customer feedback on social media
By Ashlee Keown, Warehouse Stationery's Digital and Direct Communications Manager Complaints, questions or compliments posted on your business’s social media pages offer a chance to make a positive impact on what current and prospective customers think of your business. Quickly resolving a complaint, for example, can build credibility and goodwill amongst your followers. 1. Plan ahead Assign one person to manage social media ...
How to research your market and competitors
Defining your business Share Before you start researching your market, you need to work out what your business does — its purpose — and if it’s unique. First, define the product or service you’re offering then ask: Why will customers buy — is there a need or demand for it? What else is on offer in the market? The answer to these questions informs the ...