Pictured above: Hilary Devey Presenter of Five's The
Business Inspector and Gary Martin of Zap Events Hire,
incorporating Table Art
A local business in Warwickshire will feature in a new TV series
"The Business Inspector" on Wednesday 17 March 2010 at 8pm.
The Business Inspector is a four-part series that will be
broadcast weekly on Five. It has been sponsored by HM Revenue &
Customs (HMRC). The programme will raise awareness among small
businesses that they need to keep good records.
Presenter Hilary Devey said: "When I first met Gary he was
doing OK but was lacking commercialism and direction. He has tonnes
of enthusiasm and was unsure how to take the next step. I advised
him on branding, marketing franchising. I also emphasised the
importance of keeping detailed records and paying his taxes and vat
on time. Gary has created a great concept with Table Art and with
the correct Franchise agreement in place his business will
thrive."
Stephen Banyard, Business Customer Unit Director at HMRC,
said: "Zap Events Hire got real help and advice - including
the need for effective record keeping, marketing and how to set up
a franchise for their business Table Art - from Hilary.
"Keeping good records makes good business sense as it gives
small businesses the information they need to manage their business
and help it grow. It also makes filling tax returns easier and
helps SMEs pay the right amount of tax."
Gary Martin of Zap Events Hire, incorporating Table Art, said:
"Hilary is a tough cookie but really knows her stuff. Thanks to her
we are on the road to recovery. Her advice on marketing and how to
set up a franchise for the Table Art side of our business was
invaluable."
HMRC's Top tips for keeping good records:
• Set up a reliable system for keeping full and accurate
records of your income and expenses from the outset.
• Keep records throughout the year - update your records
regularly, rather than letting the paperwork pile up.
• Keep your records for a minimum of six years.
• Keep records to show what you have bought or sold
relating to your business. This should include details of all cash
transactions as well as invoices and receipts.
• If you are an employer you must keep records of wages
paid and details of tax and National Insurance that you have
deducted and paid to HMRC.
• Keep bank statements and building society books - this is
particularly important if you don't have a separate business
account. You should be able to show clearly what you have spent
personally and on the business.