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Paying in Cash?

Headlines over the last week may have left you concerned that the use of cash was an illegal offence – especially if you are a tradesperson!

“This is – of course – rubbish!” says robinson+co’s Tax Partner Victoria Bishop. “The use of cash in business is totally acceptable; what is not acceptable is not declaring the cash takings to the Taxman.”

As long as you record cash takings and cash expenditure in exactly the same way as you do cheques, there is nothing to be worried about. We at robinson+co will pick up the cash transactions when completing your annual accounts – or your quarterly VAT if we prepare your VAT returns – and ensure everything is above board.

If you are unsure how to keep your business records you can always give us a ring and we can advise you on the best method of bookkeeping for you and your business - whether computer based or using pen and paper!

"We are confident that our clients are fully compliant in recording their cash transactions," continues Victoria, "but if anyone does have any concerns, they should contact us immediately, for it is always better to approach H M Revenue & Customs first, and not wait for them to knock - literally or metaphorically - on your door."

Contact Victoria, or your normal contact at robinson+co on 01900 603623 or 01946 693623 or 019467 25808 if you have any further queries.

News Archive

It's good to know that robinson+co fully understand the issues facing our industry.

Tyson H Burridge, Tyson H Burridge Ltd

After over two decades of outstanding service to my company, robinson+co continue to evolve as my own business has.

Mike Graham, G&M Supplies Ltd

When I became self employed, getting reliable personal and professional financial advice and accountancy help was so important. I have been fortunate to have had such good service from robinson+co over the last five years.

Alison Harker, Wigton

We would like to thank robinson+co for their outstanding service they provide us in dealing with our PAYE and CIS.We find that they are very professional and understanding to our needs.

Carole & Brian Atkinson, B&C Atkinson Ltd

We can't thank Christine Smith enough for all her patience and help in keeping us straight with our payroll etc., and not to forget Tracey Kennett for all our Sage help.

Modern Homes, Workington

robinson+co have acted as accountants for both me and my Limited Company for a number of years, and are without doubt the most reliable, professional and cost effective firm I have ever used.

Paul Blamire - Everhaven Data Solutions Limited

robinson+co is registered to carry on audit work in the UK and Ireland and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales.

robinson+co is a trading name of robinson+co (Gosforth) Limited registered in England & Wales 08088245. Registered office Oxford Chambers, New Oxford Street, Workington CA14 2LR. Regulated by the Institute of Chartered Accountants in England & Wales for a range of investment business activities.
robinson+co Financial Services Limited is registered in England & Wales 07272147. Registered office Oxford Chambers, New Oxford Street, Workington CA14 2LR. Authorised and regulated by the Financial Conduct Authority firm number 597189.

Professional indemnity insurance

The firm's professional indemnity insurance policy is provided by Liberty who may be contacted via Bluefin Professions at Castlemead, Lower Castle Street, Bristol BS1 3AG. The policy applies to claims wherever made outside the United States or Canada, based on acts, errors or omissions occurring anywhere in the world.

robinson+co Financial Services Limited's policy is provided by Collegiate Management Services Limited and can also be contacted via Bluefin Professions.

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