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BENs -

Doing first year accounts for new client - hardresser.  Gut feeling is that direct costs are too high.  Looked for BEN on HMRC site - apparently now defunct and available in the National Archive!  Does anyone know if there is a current equivalent source of info?


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22nd Jul 2011 16:19

have you discussed it with the client?

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By nutwood
27th Jul 2011 13:31

Not yet...

client is on holiday. He is a one man band plus one part time employee. Location is not very affluent area, retail product is not top brand. As my only other hardresser client is a larger salon on a main road location, with 4/5 salaried stylists plus trainee and saturday girls; top class retail product with staff incentives for selling and an owner who only does admin and no longer does hair himself - comparison with his margins would probably not be helpful.

The sales, which are mainly cash - client gave up credit card machine after a few months as customers paying by card were so few - are backed up with daily printouts from the till. Product purchases are 14% of T/O and payroll costs are 19%. It just doesn't smell right to me so I guess it won't to HMRC's computer but I was hoping to find some published data before asking the client.

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