The Benefits Of VAT Services

Are your VAT returns due? As a business operating in the European Union your goods and services will be subject to value added tax. Value Added Tax (VAT) can be an onerous burden for many businesses in terms of time and cost, however there are accountants who can help you with this line of services.

VAT Services

In this post we look at the benefits of having a VAT accountant at hand to help you with your VAT returns.

What Is VAT?

VAT is an acronym for Value Added Tax. It is a tax which is applied to goods and services in the European Union (EU) and many other countries. The tax is built into the price of a product or service, adding a certain percentage to the final selling price. In other words, it is a tax on business transactions. VAT is usually calculated as a percentage of the value added to a product at each stage of its manufacture or distribution.

This means that VAT is not paid by the final consumer but by all those who have had their hands on the product before it reached the market.

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How much is VAT in UK?

VAT rates for goods and services

% of VATWhat the rate applies to
Standard rate20%Most goods and services
Reduced rate5%Some goods and services, eg children’s car seats and home energy
Zero rate0%Zero-rated goods and services, eg most food and children’s clothes

How Much is VAT In Ireland?

What is the VAT in Ireland = 23%

23% is the standard rate of VAT. All goods and services that do not fall into the reduced rate categories are charged at this rate.

How much is VAT in Germany?

The German standard VAT rate is 19.0%, which is just below the OECD average. The average VAT/GST¹ standard rate in the OECD was 19.2% as of 31 December 2020.

The previous standard VAT rate in Germany was 19% in 2019.

Benefits of VAT Services

There are many benefits to employing an outsourced VAT Services for a European Union (EU) based business including:

  • Saves time for an organization
  • Improves productivity
  • Task is carried out by an expert – less chance of mistake in return

There are many benefits of using a VAT returns service for your business if you are based in the European Union

What is the role of data protection solicitor?

Data protection is a key area for businesses to take seriously and for business reputation purposes. In this post we discuss what is a data protection solicitor, the role of such a position and why data has become so relevant in the legal space with GDPR.

What is a data protection solicitor?

A data protection solicitor helps businesses with their data protection compliance and advise on the use of personal data. And example is Conor McLaughlin & Associates data protection solicitors who offer the service to both private and non-private clients. A solicitor will help you to understand what obligations your business has when it comes to processing personal information, and ensure that these are met.

Data protection solicitors

What is GDPR and why it is relevant to the role of a solicitor?

All solicitors hold personal data – their employees’, their clients’ and other people relating to their clients and their work. If someone can be identified from the information you hold on them, it is personal data. The EU GDPR, along with the Data Protection Act 2018, controls how you use this information.

GDPR stands for General Data Protection Regulation, and it’s a law that replaces the 1995 Data Protection Directive. It’s an attempt to update internet privacy laws for the modern digital age. It’s a pretty big deal, since it affects how all EU citizens (and companies doing business in the EU) handle personal data. The general idea is that data can only be used for its intended purpose, and users must give consent for its collection. Any company collecting data must also be transparent about when they collect it, and how they plan to use it in the future.

Why data protection is important?

We have all seen and heard the media coverage of companies being hacked or data being lost. This is a real threat and should be taken seriously by every company. The cost of this can be life threatening to businesses and they can lose millions in revenue as customers won’t trust them anymore. There are two things that a business needs to consider when protecting their data, the first is to ensure that they have backups of their data, but the second is ensuring that their backups are secure. The last thing you want is for your backup to become compromised as well.

Which of the following is not a factor of production

In this post we discuss the factors of production including what is and what is not a factor of production.

Which of the following is not a factor of production

What is the difference between the supply and demand of a product?

Supply is the amount of a product that producers are willing to sell at a certain price; demand is the amount that consumers are willing to buy at that same price. The curve of supply and demand for any given product will be different depending on the product itself.

Continue reading “Which of the following is not a factor of production”

What are the principles of continuous improvement?

The concept of continuous improvement has been around since Henry Ford developed the assembly line and John Dewey introduced his philosophy of education. In fact, the theory of continuous improvement is more of a philosophical construct than a formalized approach to problem solving. However, in order to make improvement part of an organization’s culture, the impacts of changes must be measured and analyzed. This means measuring the effects of a change before applying it to other problems and ensuring that the new change is cost-effective. This will help prove that it has a positive return on investment.  

The sixth principle is that you must develop metrics to measure your improvement efforts. Without them, continuous improvement is just a hazy idea. Metrics are not just for monitoring performance, but for learning and assessing results as well.

Principle 1. Improvements are based on small changes, not only on major paradigm shifts or new inventions

For small changes to feel safe, the team should choose a strategy that builds on existing strengths and avoids new risks. To make a change, it doesn’t need to wait for a big “hit” like a new product release. Instead, they should start small, by improving some aspect of the system they already have.

Principle 2. Employee ideas are valuable

This principle highlights the fact that there are opportunities for improvement in all aspects of the business, not just in the physical processes or production. It is a reminder that the organization can and should focus on how employees contribute to the business, and it can incorporate the ideas of employees into the continuous improvement process.

Principle 3. Ideas are surfaced at all levels of the organization

This principle emphasizes the need for all levels of the organization to contribute to the continuous improvement process. It is also important because it ensures that all members of the organization contribute to the improvement process. It also gives a boost to employee engagement and morale because everyone has an opportunity to participate.

Principle 4. Continuous improvement is an ongoing process

The continuous improvement model recognizes that improvements do not occur in a vacuum. Improvements require a period of experimentation, learning, and refinement. This principle also highlights the fact that continuous improvement is an ongoing process that requires constant effort.

Principle 5: Everything is a process

A simple equation you will often hear quoted is “Y=f(x)”, meaning that any output is a result of a function being applied to an input. Any form of product or customer experience is a result of a multitude of processes. The challenge is how understood or mature those processes are and then deciding what level of design and standardization is appropriate. Continuous improvement is this organised approach to improving processes.

Principle 6: A level of standard and repeatable method for improvement is key

As a coach and facilitator of change for the last 20 years, I have often asked people to trust the process. Improvements can be ambiguous, and sometimes we start projects without any idea of how they will be solved. To ensure that we achieve the right solution, it’s important to use a sequence of appropriate tools and techniques.

Organizations that think continuous improvement is only about implementing big changes are doing it wrong. Small improvements are less disruptive and easier to implement. If you’re thinking about continuous improvement, the best thing you can do is to start by taking small steps to improve.

5 Best Hoshin Kanri Blogs

Are you looking for information on developing a Hoshin Kanri strategy for your business? In this review we will show our readers the 5 best Hoshin Kanri Blogs of 2021.

We have listed below some of the best resources that offer helpful information for organizations that are thinking of implementing hoshin kanri or who are in the early stages of their hoshin strategy.

What is Hoshin Kanri

Hoshin Kanri can be translated as:

  • Ho – Direction
  • Shin – Compass
  • Kan – Control
  • Ri – Reason or logic

Hoshin Kanri is a practice of steering an organization and supporting it’s continuous improvement efforts.  Hoshin Kanri involves setting strategic goals, a vision, and tactics to achieve the goals and vision at all levels in an organization; Source:

Best Hoshin Kanri Blogs

5) Michigan Technological University

One of the best resources online to offer a straight forward understanding as to what exactly is Hoshin Kanri is the continuous improvement blog on the Michigan Technological University website.

Resources from university websites are not biased or trying to funnel readers into buying a software, therefore this is a resource that we felt had to be on our list of the best hoshin kanri blogs 2021.

4) Kanbanize

Kanbanize are a well known strategic company that is focused on project and strategy execution solutions for business. This company have a large amount of content on their website offering valuable information and insights into Hoshin Kanri.

If you need both entry level information on strategy or more advanced detailed views on strategy execution, the content on the Kanbanize website is well worth reading.

3) Sigma Magic

Sigma Magic offer a range of software solutions, however they also have useful information on implementing hoshin planning in your company.

Simple and straight forward resources that will inform you about your hoshin strategies. On this website you will also find the 7 steps of Hoshin Planning resource.

2) Kanbanzone

Kanbanzone offer a large library of resources business strategies, coaching, lean and on Hoshin Kanri. There are lots of low and high level hoshin content on this company blog that is well worth a read to learn more on the topic.

If you are thinking of learning more about Kanban or HK and want to implement the software in your company, then this website is one that you should check out to become more informed on the topic.

1) i-nexus Hoshin Kanri Blog

The leading company in the area of Hoshin Kanri is i-nexus. This company has one of the largest resources on Hoshin Kanri online in 2021. The strategy execution company also offer readers a wide range of free resources on all of their hoshin blogs.

If you need up to date information, examples of Hoshin Kanri, then you need to read the i-nexus blog.

If you are starting your Hoshin journey, we wish you well and we recommend that you check out all of the resources listed above for more information on the topic.