Optical News Archives - AEL Markhams https://aelmarkhams.co.uk/category/optical-news/ Chartered Accountants & Business Advisors Thu, 29 Nov 2018 15:45:21 +0000 en-GB hourly 1 https://wordpress.org/?v=6.1.6 https://aelmarkhams.co.uk/wp-content/uploads/2019/05/cropped-ael-id-logo-32x32.jpg Optical News Archives - AEL Markhams https://aelmarkhams.co.uk/category/optical-news/ 32 32 125666744 View from AEL: Take Stock https://aelmarkhams.co.uk/view-from-ael-take-stock/ Fri, 01 Jun 2018 13:00:38 +0000 http://www.aelmarkhams.co.uk/?p=827 The expression “take stock” is a well-worn idiom meaning to consider first and act later. But it’s quite remarkable how many independent optical practices don’t set aside the time to consider how decisions on stock control can affect the profitability of their practice. Successful retail incorporates how improved inventory management can impact on key areas such as Profitability; Practice Valuation; ...

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The expression “take stock” is a well-worn idiom meaning to consider first and act later. But it’s quite remarkable how many independent optical practices don’t set aside the time to consider how decisions on stock control can affect the profitability of their practice.

Successful retail incorporates how improved inventory management can impact on key areas such as Profitability; Practice Valuation; Business Tax; Accounts and Financing.

You might like to consider the following questions and their impact on both your practice and your pocket.

1. Why do you maintain the inventory lines you currently stock?
2. What factors determine the shelf position of each line of stock?
3. How many frames of each line do you dispense each month and what is the relationship between this number and the position & amount of pieces held in stock?

If the answer to each of the above 3 questions is “because we’ve always done it this way”, then you’re tying up cash that could be put to much better use invested elsewhere in your practice.

Contact AEL Markhams today to see how we can help >> 

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]]> 827 View from AEL: Jan 2018 https://aelmarkhams.co.uk/view-from-ael-january-2018/ Wed, 03 Jan 2018 13:22:36 +0000 http://www.aelmarkhams.co.uk/?p=765 The month of January should be a fresh start to a brand new year. A chance for practice owners to embrace and implement the changes needed to both compete and flourish. However, for many, the wave of optimism is dampened by the looming spectre of tax bills where payment once seemed so far away. There is no escape from having to ...

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]]> The month of January should be a fresh start to a brand new year. A chance for practice owners to embrace and implement the changes needed to both compete and flourish.

However, for many, the wave of optimism is dampened by the looming spectre of tax bills where payment once seemed so far away. There is no escape from having to complete tax returns and pay tax at the end of January. It shouldn’t be a shock to anyone as over 200 years ago Benjamin Franklin warned that “nothing can be said to be certain, except death and taxes”.

So what can be done to reduce the fear and financial paralysis…?

Click here to read the full article >>

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]]> 765 View from AEL: Sept 2017 https://aelmarkhams.co.uk/view-ael-september-2017/ Sat, 09 Sep 2017 20:57:33 +0000 http://www.aelmarkhams.co.uk/?p=822 Las Vegas. Fortunes made and lost on the spin of a roulette wheel. Which brings me to one of the most frequently asked questions by practice owners; how much of a gamble is claiming overseas travel expenses as a tax deduction? Vision Expo West (VEW) is taking place in Las Vegas as I type so it seems topical to look at ...

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Las Vegas. Fortunes made and lost on the spin of a roulette wheel. Which brings me to one of the most frequently asked questions by practice owners; how much of a gamble is claiming overseas travel expenses as a tax deduction?

Vision Expo West (VEW) is taking place in Las Vegas as I type so it seems topical to look at overseas travel costs. When assessing whether HMRC would challenge a practice owner for deducting the costs of accommodation, travel & subsistence, the dual aspects of distance & cost are irrelevant to their decision.

Click here to read the full article >>

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]]> 822 Rocket Fuel for Practice Owners #2 https://aelmarkhams.co.uk/rocket-fuel-practice-owners-2/ Mon, 06 Mar 2017 14:39:57 +0000 http://www.aelmarkhams.co.uk/?p=792 Marc Bennett has spent over 25 years analysing and advising on the finances of some 1,000 opticians’ practices around the UK. He is an expert in the areas of practice valuation, maximising VAT recovery and tax efficient Exit strategies. In the second of a 5 part series he’ll be looking at increasing profitability through a practice refurbishment and financing the ...

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]]> Marc Bennett has spent over 25 years analysing and advising on the finances of some 1,000 opticians’ practices around the UK. He is an expert in the areas of practice valuation, maximising VAT recovery and tax efficient Exit strategies. In the second of a 5 part series he’ll be looking at increasing profitability through a practice refurbishment and financing the costs through VAT & Corporation tax reliefs.

Over the coming months he’ll be sharing strategies that have successfully propelled practice owners forward by taking an in-depth look at the areas of Succession Planning, VAT methods & Practice Valuation.

Click here to read the full article >>

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]]> 792 Rocket Fuel for Practice Owners #1 https://aelmarkhams.co.uk/rocket-fuel-for-practice-owners-1/ Tue, 10 Jan 2017 13:28:13 +0000 http://www.aelmarkhams.co.uk/?p=768 Marc Bennett has spent over 25 years analysing and advising on the finances of some 1,000 opticians’ practices around the UK. He is an expert in the areas of practice valuation, maximising VAT recovery and tax efficient Exit strategies. In the first of a 5 part series he’ll be looking at increasing the profitability of a practice by reducing low-return ...

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]]> Marc Bennett has spent over 25 years analysing and advising on the finances of some 1,000 opticians’ practices around the UK. He is an expert in the areas of practice valuation, maximising VAT recovery and tax efficient Exit strategies.

In the first of a 5 part series he’ll be looking at increasing the profitability of a practice by reducing low-return activities. Over the coming months he’ll be sharing strategies that have successfully propelled forward the profitability and valuation of practices in the areas of Refurbishment, Valuation, VAT & Succession Planning.

Click here to read the full article >>

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