Kiwis love DIY – it’s in our DNA! When it comes to home renovations, fixing cars or managing your own business and books, we love to do it ourselves. This makes sense for a lot of small businesses when cash is tight and there are accounting software options readily available in the market which theoretically
Taking the guesswork out of common SME topics so you can get it “right first time”. This month we take a look at some other very common types of expenditure: home office, uniform and protective clothing expenses. One fine, sunny morning I was with my children at the local playground when I met Rika, a
Poor cash flow is one of the biggest reasons why businesses – and particularly small businesses – fail. Michael Jamieson shares his top tips for improving and managing cash flow in your business. A sale is not a sale until you have been paid. Too many business owners run themselves ragged doing the work but put chasing overdue
There’s no denying that zombies are a hot topic with a huge fan following, and the entertainment industry is saturated with books, movies and TV series all putting their spin on how a zombie virus might play out. Admittedly, my teenage son and I have engaged in several strategic conversations about how we would zombie-proof
UHY Haines Norton Consultant Tim Livingstone explains how a Board of independent directors can provide benefits to SMEs as well as larger businesses. For SMEs with adequate financial resources, forming a Board and appointing an independent director can provide real, tangible benefits. As an independent director of SMEs and a client-facing partner, I have experienced first-hand many
Taking the guesswork out of common SME topics so you can get it “right first time”. Having discussed entertainment expenses in our previous issue, we now take a look at another very common type of expenditure: motor vehicle expenses. We will use some examples to illustrate how and what we can claim as motor vehicle
UHY Haines Norton’s Business Valuations specialist Kerry Tizard provides some advice for getting your business ready for sale. Before putting your business up for sale, ensure that your business is sale ready. Having your business sale ready will increase your changes of achieving an outcome that meets your objectives and ensures that you achieve a good return
Most goods and services in New Zealand are subject to GST at the rate of 15%. We clarify the general rules for New Zealand businesses regarding who must register for GST, and explain the different accounting and filing methods. GST Registration You can voluntarily register for GST if you are in business. It is compulsory
Taking the guesswork out of common SME topics so you can get it “right first time”. In this article we look at the rules regarding entertainment expenses. There is often confusion around which expenses can be claimed under ‘Entertainment’ and what is the tax deductibility criterion. Certain entertainment expenses are 100% deductible, while some are
All registered charities are now required to adhere to the new financial reporting and assurance standards as legalised by the Ministry of Business, Innovation and Employment (MBIE). The new accounting standards applying to charities and not-for-profit entities have been passed by Parliament and include the minimum assurance requirements for all charities. All registered charities will
This month Tim Livingstone retires as Director at UHY Haines Norton. Tim joined the practice in 1983, when it consisted of three Partners and six staff based in one Henderson office. He has been a Director for over 30 years, including 10 years as Managing Director, and was instrumental in growing the firm into
UHY Haines Norton is delighted to announce the appointment of Audit Manager, Bhavin Sanghavi, as a Partner. Bhavin joined the firm’s Audit department 11 years ago, which at the time consisted of just three staff members. His natural leadership skills, professionalism and initiative resulted in a number of internal promotions, from Senior Auditor to Supervisor,
Tim Livingstone explains why every business should have a succession plan in place and what business owners should consider when developing one. Although studies show that businesses with succession plans experience higher growth and have a higher survival rate than those without, over half of New Zealand SMEs don’t have any succession plan in place.
Continuing on from our article “Business Expenses: What Can You Claim?” in our April/May newsletter, we provide further advice on different claimable business expenses that can be claimed against your income. Claimable Expenses: Home Office If the home is used for work purposes then a proportion of expenses relating to the property are deductible. To
In the 2016 New Years' Honours, UHY Haines Norton Director Tim Livingstone was awarded the New Zealand Order of Merit for services to business and the community. Tim has been a Partner at UHY for over 30 years, including 10 years as Managing Partner of the practice. Tim is President of the West Auckland Business Club,
While small- to medium-sized businesses make up a large and thriving part of New Zealand’s economy, statistics indicate that the majority of SMEs are missing a vital part of business strategy: an exit plan. Research such as that conducted by the MYOB Business Monitor finds that less than 40% of small- to medium-sized businesses have
UHY Director Tim Livingstone addresses a frequently-asked question concerning business valuations: what is my business worth? A question we regularly receive from both clients and non-clients is on the value of their business. The value of a business gets down to what the business has to sell. Most SME (small-to medium-sized) businesses will be selling
On Thursday 21st August, UHY Haines Norton hosted the West Auckland Business Club’s Business After 5 event. We always love this opportunity to open our doors and catch up with clients, associates and members of the West Auckland business community. We usually try to do something a little different and provide the audience with some
This month marks the official retirement of UHY Haines Norton Director John Ballard, who is stepping down from the demanding Director role in favour of much-deserved long weekends on Waiheke. Although John will still be a familiar face here in the office as he assists in a part-time consulting role, his retirement from the Director
