Earn and learn with an apprenticeship

As Scottish Apprenticeship Week kicks off (21-25 May), Iain Abernethy of Johnston Carmichael argues that apprenticeships are not only good for business – they are good for school leavers wanting to climb the career ladder too

Like the rest of the world, all businesses have felt the full force of the recession. During these challenging times, organisations (small, medium and large) need to ensure that they are employing the right people to ensure business survival and growth.

Through strong leadership and direction, our business has remained strong and grown. With 11 offices across Scotland, we are continually looking at our business strategy and implementation in order to ensure we deliver the best we can to our clients.

Over the years our recruitment processes have changed in response to a number of external factors – like the recession – and we’ve implemented what we hope will be a highly successful direct entry route.  We envisage that many of these direct entries will be school leavers.

This year we introduced JC Futures, a five-year accounting training programme for those who prefer to go directly into vocational training. The scheme encourages talented people to train for the AAT Accounting Qualification whilst gaining practical experience.

In my role at Johnston Carmichael as Training and Development Director, I’ve come to realise that university isn’t for everyone. Some want to skip the three or four years of study and move straight into on-the-job learning, earning a salary and making a career for themselves. For those candidates that are committed to making this choice, more often than not, it’s a good option.

It’s clear that talented people benefit from high value apprenticeships in a number of ways. Work experience is the major benefit as it provides a tremendous platform of understanding for one’s career. Then there is the growing familiarity with the world of work where you can learn the DOs and DONTs of everyday business life. And of course I can’t forget the obvious plus – the salary.

But what’s in it for the employers that invest time and resources into offering apprenticeship schemes? By taking good candidates into our firm through a program like JC Futures, we are able to develop their understanding of work and working practices. Essentially, we are able to train direct entry students in our methods of work. We have tremendous long term opportunities and prospects within the firm and our ultimate objective is for staff to progress their careers within the firm.

From what I have seen, candidates tend to be focused and determined about coming into work rather than university. On the other hand, university students generally have more life experience and those that have been able to gain work experience during their summer holidays tend to hit the ground running. Regardless, it can take up to six months for any candidate to settle in. There is no right or wrong option.

From an employer’s perspective, an ideal candidate does not necessarily possess a university degree, but rather an enthusiastic and positive approach to their work and colleagues. They must of course be academically capable, communicate well, have a desire to progress with their career and not afraid to keep learning and asking questions.

When you match a bright and passionate candidate with an employer that is willing to invest time and energy into their development, the result is often win-win.

You can read more accountancy news and opinion on AAT Insight Scotland – our blog dedicated to issues north of the border.

Throughout this week AAT is running a series of webinars on apprenticeships in Scotland to coincide with Scottish Apprenticeship Week.

Turn to accountancy

Former maths teacher, Paul Buzzard, changed career to accountancy to offer him the flexibility to care for his children. As part of Adult Learners’ Week, he shares his story

For many years I worked as a maths teacher, but my family circumstances meant that I needed to think about a new career.

I have four children, including one (Ione) who has Cerebral Palsy and another (Jake) who has Asperger’s syndrome.  Ione needs round the clock attention – she needs daily physiotherapy and is often fed through a tube. As my wife has back problems, I have taken on the role of full-time carer.

Six years ago I realised I needed a new career that would enable me to work around my family responsibilities. I felt accountancy could be suitable – on the basis that I have an aptitude for numbers and it would allow me to work in the evenings. I found out about the AAT Accounting Qualification and arranged to do the whole qualification, along with two others in payroll and bookkeeping, in a year.

I was the eldest student on my course by a mile and it was incredibly difficult to take four NVQs in one year, but as time is not on my side I needed to get qualified as quickly as possible. I was very fortunate that my lecturers at the Royal Forest of Dean College supported me in achieving this.

I qualified in 2007 with AAT and set up my own accountancy practice, Cedar Accountancy Services. In 2008 I was nominated as a VQ learner of the year at the first ever VQ Day by AAT – an award that I was fortunate enough to win.

Obviously, it has been fantastic to be recognised for my achievement. But it has also been a real boost to my business. Prospective clients know that I can be trusted as the award demonstrates professional credibility.

Since 2008, life has been busy. I have qualified as a chartered accountant with both ACCA and CIPFA, as well as being a professional member of AAT. My business continues to grow which obviously enables me to support my family. My kids are doing well and as I work from home entirely, I am able to spend as much time with them as possible.

I’m sure I would have stayed in my teaching position had I not been needed to be at home. But I thoroughly enjoy my accountancy business too. Not many people get to have two very different careers in one lifetime.

Interested in changing career to accountancy? Then read the story of Linda Fleet, who turned her back on an Asda checkout job to study AAT and set up her own accountancy practice. Or Gregory Edelston, who started studying accountancy whilst working as a personal trainer.

Further information on studying AAT is available online.

Ask Aimee – the AAT career coach

One of the things our Facebook page has taught us at AAT is that with so much competition for accountancy jobs, sometimes people need a little help. So we’ve acted on that and started working with recruitment consultant Aimee Bateman.

Aimee’s an experienced recruiter and personal branding expert. She runs her own recruitment consultancy, Bateman Associates, and maintains the engaging online video channel Careercake.tv. Aimee also has numerous appearances as an employment expert on BBC TV to her credit. In short: she knows her stuff.

Aimee is genuinely passionate about helping people into work. She’s recruited for some of the top financial firms in the UK, and her experience has taught her exactly what employers look for when it comes to job applications. She has a wealth of tips to help you stand out from the crowd, and she can’t wait to share them with you.

So how do you Ask Aimee? As she says in her introductory video below, you can submit your question to Aimee in one of these ways:

Tweet AAT using the hashtag #AskAATAimee

– Leave a question under one of her videos on AAT’s Facebook page

– Leave a question in the Ask Aimee thread on AAT’s discussion forums

– Leave a comment under one of her videos on the AAT career coach YouTube channel

(You can also leave a comment at the end of this article, if you like.)

At the end of each week Aimee will shoot a new video answering the most popular/interesting questions submitted by you. (Aimee only has so many hours in the day, so she’ll only be able to answer a couple of questions per video.)

Aimee’s first video of answers was in response to questions submitted on Facebook – and as you can see she had plenty to choose from:

Ask Aimee on Facebook

Here’s her first video of answers:

If you want to be among the first to receive Aimee’s latest videos, be sure to subscribe to the AAT Career Coach YouTube channel.

Find accountancy jobs at AAT Jobs

Read AAT student Ceris Williams’s guide to landing your dream accountancy job

Get the latest AAT Comment articles by email

Change career at any age

To celebrate Adult Learners’ Week, AAT student Gregory Edelston explains why he chose to change career from personal training to accountancy in his late thirties  

Two years ago I took a sabbatical and worked for an outreach charity in Israel and Palestine. It gave me time to think and I realised that my career as a personal trainer was not going to prepare me well enough for retirement. I felt I earned enough to live well and travel, but it wasn’t a career I could see myself doing for the rest of my life.

I had always done the books for my partner’s business and it was something I enjoyed, so it seemed logical to look at retraining as an accountant. I did some research and found out about the AAT Accounting Qualification. I am doing the Kaplan AAT fast-track programme and study evenings, daytime and at weekends.

I’m funding myself so obviously I don’t want to miss out on anything. In fact, I’ve found the AAT really manageable. I feel it’s open to everyone whether you’re 16 or 40 and really helps to open doors.

It’s a long time since I’ve been in a classroom but I’m really enjoying studying and meeting new people. I am already putting the knowledge I’ve learnt through AAT to good use. In fact, I advise my personal training clients on tax issues as well as their fitness.

Interested in changing career to accountancy? Then read the story of Linda Fleet, who turned her back on an Asda checkout job to study AAT and set up her own accountancy practice.  

Further information on studying AAT is available online.

Access for all

The routes into a career in accountancy are more varied than ever. Amanda Meyer, Professor of Accountancy at Robert Gordon University (RGU) in Scotland, argues that non-traditional routes are now more prevalent than ever before

A professional accountancy qualification should almost guarantee a highly lucrative and successful career. However, industries have been hit hard in the recession and young individuals wishing to join the blue-chip profession that is accountancy need to consider their options carefully.

The importance of professions to the UK’s economy and society cannot be understated and there is a strong case for government and the professions to do more to ensure fair access for all.  However, with student degree fees set to rise significantly in 2012 from £3,000 per annum, to a maximum of £9,000 in England, bright and able young people should be encouraged to consider non-traditional ways of gaining their education to minimise debt.

Wise employers will also need to cast their net wider to ensure that they do not restrict their access to an untapped population of capable students by focusing on those who can afford to pay or are willing to take the risk of incurring huge student debt.

Interestingly, unlike many other professional accounting bodies around the world, access to training for the UK based bodies such as CIMA, ACCA, ICAEW and ICAS, is not restricted to graduates.  School leaver options are available for many of the UK based professional bodies, either directly or through access programmes such as AAT.

School leavers are therefore now faced with a real choice and I suspect that the educational landscape for professional accountancy training will change quite significantly over the next few years. Should students therefore invest in their future by undertaking a traditional three of four year degree at university?  As a Professor of Accountancy at Robert Gordon University (RGU) you might expect an unequivocal yes from me.

Indeed I wrote to this effect a few years ago, whereby I argued that a university education is the perfect vehicle for developing the contemporary, non-technical skills that are the key differentiators in overall business performance. However, can these skills not be developed in the workplace?  Will a university degree provide today’s young people with the best return from their future career?

I still believe that a degree is a very important qualification to gain, as a university education has a different role to play to that of a professional accountancy body in the intellectual and ethical development of an individual wishing to pursue a career in accountancy.

I also believe that savvy students will – and should – look to the non-traditional routes that are available; and this is a particular focus of my university.  Students should consider distance or blended routes to facilitate faster entry into the workplace and should also be looking for qualifications that offer more than just a degree.

Recent educational developments have illustrated how professional accountancy bodies and universities can work in collaboration to harness the benefits of a university degree and a professional qualification.

This combined qualification can be further augmented with work experience providing the perfect foundation from which a young individual can launch a rewarding and lucrative career.

AAT is an ideal way to start a career in accountancy. Whether you are looking for an alternative to university or want to earn as you learn with an apprenticeship. You can begin your career in accountancy with AAT in five easy steps.

How to use MS Excel's VLOOKUP function

In his third post guiding you through useful Microsoft Excel tools for accountants, AAT student Muhammad Anisur Rahman shows you how to use the VLOOKUP function

The Vertical Lookup (VLOOKUP) function is used to search the first column of a range of cells or a table, and return a value from any cell on the same row of the range or table.

For this blog example, create a table as shown below:

Step 1: create this table

VLOOKUP Syntax

=VLOOKUP(lookup_value, table_array, col_index_num, [range_lookup])

Arguments

lookup_value (required)
The value to search in the first column of the table or range. The lookup_value argument can be a value or a Cell reference.

In this example, our first look up value is ‘Hove’ (Cell reference A9)

table_array (required)
The range of cells or data table that contains the data. In this example, select range A3:C15

col_index_num (required)
The column number in the table_array (Cell reference A3:C15) argument from which the matching value must be returned.

A col_index_num argument of 1 returns the value in the first column ‘Area Manager’ in table_array.

A col_index_num of 2 returns the value in the second column ‘Total Sales’ in table_array, and so on.

range_lookup (optional)

A logical (True or False) value that specifies whether you want VLOOKUP to find an exact match or an approximate match.

For True or omitted:
The values in the first column (in this example column C ‘Area Manager’) of table_array must be placed in ascending sort (A to Z) order; otherwise, VLOOKUP might not return the correct value.

For False:
VLOOKUP will find only an exact match. If there are two or more values (duplicate ‘Area’ names) in the first column A (‘Area’) of table_array that match the lookup_value, the first value (‘Area’ name) found is used. If an exact match is not found, this will return the error value #N/A.
Create a another table as per below to show our lookup results

Create a another table as per below to show our lookup results:

Step 2: create another table

In Cell F3 type formula =VLOOKUP(E3,A3:C15,2,FALSE) to lookup ‘Area Manager’

  • Cell E3 is lookup_value reference
  • Cell reference A3:C15 is table_array reference
  • col_index_num 2 to find ‘Area Manager
  • FALSE for exact match

Also, in Cell G3 type =VLOOKUP(E3,A3:C15,3,FALSE) to lookup ‘Total Sales’

Type ‘Hove’ in Cell E3 as per image below:

Step 3: type 'Hove' in Cell E3

Now, type other area names from column A to lookup ‘Area Manager’ and ‘Total Sales’. If an area name entered in Cell E3 (for example ‘Paris’) is not found in our table, an error value #NA is returned.

Step 4

 

If ‘Area’ name in Cell E3 entered correctly and exists in our table but the lookup value is returned #NA, make sure that the data in the first column (range A1:A15, column title ‘Area’) of table_array does not contain leading spaces, trailing spaces, inconsistent use of straight ( ‘ or ” ) and curly ( ‘ or “) quotation marks, or non-printing characters.

In the next part of my blog I will demonstrate the SUMIF function. If you have any suggestions or question regarding this example, please feel free to leave your comment or contact me directly.

AAT members have access to an online training resource covering the key Excel functions critical to everyday business.

Why attend the AAT Members' Weekender 2012?

AAT’s fourth annual Members’ Weekender, sponsored by Mazars, takes place on Friday 18 and Saturday 19 May 2012 in Bristol. Open to student members and full members alike, it offers a packed schedule of insightful sessions delivered by expert speakers from the accountancy industry. The theme this year is ‘Effective accounting in challenging times’.

AAT Members’ Weekender full programme

What can you expect if you sign up to AAT’s Members’ Weekender? Here, eight AAT members who have attended numerous times explain where the value lies.

1. Harriet Arnold MAAT,  MIAB Sum-It Up Payroll, Bookkeeping and Accountancy Services:

I’ve attended and thoroughly enjoyed the last two AAT Members’ Weekenders. I find them a great source of CPD, as well as an opportunity to get to know your peers and make useful contacts.

The seminars provide valuable new information, reaffirm existing knowledge and open your eyes to new ideas and concepts. The contacts I have made at the Weekender have given me an invaluable support network whose experience provides valuable hints and tips.

I’m looking forward to this year’s Members’ Weekender, and wholeheartedly recommend it for anyone who has their own practice and/or wants to meet others from their profession.

2. Tim Birkett, Director, Birkett & Co. Ltd:

I have attended all the AAT Members’ Weekenders since their inception, and they have more than lived up to my expectations. I most look forward to the interaction with other members in practice and the opportunity to share our experiences. The majority of MIPs run their own practices, so we are all on a level playing field.

I have been to other events where the delegates are split between the big firm and small firm practices, and this can engender a ‘them and us’ attitude – this is not the case at AAT’s Weekender.

CPD is an absolute must for all MIPs, and the Weekenders provide exactly the right forum to get the knowledge you need to run your practice and, more importantly, to give a better service to your clients.

Over the years the Weekender has enabled me to make contacts of a few MIPs, and this has become an informal mutual support group with regards to matters accounts and tax. Even if we don’t know the answer we can normally point someone in the right direction. Another real plus of the Weekenders is the opportunity to meet some of the AAT staff and put faces to names. I’ve been a member and in practice for 30 years, but personal professional development is more important now than it’s ever been.

3. Catherine Brown, Financial Controller,  Packaging World:

AAT’s Members’ Weekender is a great way to build connections with other accounting folk. While working in practice as a bookkeeper keeps me in touch with legislation changes, procedures, and so on, working alone in accounts in a small company can feel quite isolated and I sometimes fear that I am losing my ‘edge’, as it were.

The seminars at the Weekender allow me to hear other delegates’ thoughts and experiences. Listening to the comments during lectures is an easy and enjoyable way of picking up tips.

The weekend is a very easy way to get updated all in one go, as there are so many sessions all crammed into one weekend.

I have also found that it re-energises my enthusiasm for my work, and for my CPD. It’s easy to get bogged down and disconnected from your need to remain up to date during your day to day work, and this couple of days is a good stimulus to re-engage my brain.

This year I‘m looking forward to Mr Steed’s tax clinic, as usual! His is always an enjoyable and informative session, and definitely not to be missed.

I have opted for Janet Stevenson’s assertiveness session as well, hoping for personal gains here! I’ve also chosen Innovative thinking in business with Michael Steed MAAT and Palmer & Co‘s Brian Palmer FMAAT; and Forensic accounting with Stephen Lewis, of Mazars’ Forensic & Investigation Services, as I think these could benefit my employers as well.

If you haven’t yet attended this event, I’d urge you to come along. It’s a bargain weekend, with so much knowledge to be gained all in one place at such a good price. And even though it is work-related, it really doesn’t feel that way. There is nothing to be lost and such a lot to be gained, so give it a try.

4. Bob Cassey, Director, Cassey & Company Limited:

This is a not-to-miss event for me – as a member in practice (MIP) I have found from previous occasions the Weekenders provide a great chance to enhance my CPD across a range of taxation subjects, and I’ve also benefited from break-out sessions on building a more efficient practice.

In addition, the social activity provides an excellent opportunity to catch up with old friends as well as make new ones, and being a sole practitioner I have gleaned a number of profit improvement ideas by simply being able to network with peers.

AAT Chief Executive, Jane Scott Paul, at last year's event

AAT Chief Executive, Jane Scott Paul, at last year’s event

5. Jackie Evans, P/T Financial Manager at Simply Facilities Management Ltd;  P/T Financial Controller at Shires of Oxford LLP:

As a Management Accountant in industry, I’ve always found past Members’ Weekenders to offer the variety of speakers and subjects that will appeal to all members of AAT, regardless of whether they are a bookkeeper, a payroll clerk or a full member in practice.

All the members and speakers have a common interest: to share knowledge and learn from others, which is something I certainly have done. The networking certainly helped me in terms of a soft skill for CPD, as it pushed me to start up conversations and give my input in discussions.

I would definitely recommend the AAT Members’ Weekender, and look forward to attending the 2012 event.

6. Helen Geatches FMAAT ATT, Chairperson AAT Exeter branch:

I’ve attended two previous AAT Members’ Weekenders and I have booked onto this year’s event as well.

The Weekenders are a great opportunity to attend to various modules in my CPD planner and keep all my skills up to date. I also find that some modules are not necessarily on my CPD plan, but they contribute to the overall knowledge base I need when speaking to clients. It’s very important to be able to advise a client to seek specialist advice in another area (for example, legal advice) rather than just tell the client it’s something I can’t help them with.

I find that when I’m at the Weekender I am very focused to learn, as I have no other distractions. It is intense but satisfying learning. I also very much enjoy meeting members from other parts of the country, and hearing all about their experiences in the accounting world.

This year, I am as usual looking forward to the tax modules, but I’m also very keen to learn about Real Time Information and Cloud Computing. I’m part of an industry that changes frequently, and I’m keen to keep up with all new developments.

I’d recommend every AAT member attend a Weekender at some point. Until you attend one, you have no idea of the benefits you get from it. I was hooked after the first one – I had never realised it would be so informative. Council members, AAT staff and of course AAT members are all very friendly, which makes the overall experience very enjoyable.

7. Glenn C Leathley MAAT FFA FFTA, Chronicle Accountants:

I find AAT’s Members’ Weekenders recently a useful opportunity to meet other AAT folk and discuss everyday practice issues (and perhaps have a bit of a moan!). There’s a wide range of subject matter on offer in terms of seminars, and it’s great to have all that learning available in one place – plus the surroundings tend to be comfortable and relaxing, which makes for a better learning environment.

This year I’m looking forward to meeting up with the contacts I’ve made at previous Weekenders, getting the most up-to-date information about legislation and gaining useful, relevant information that will help me provide the best service to my clients. I’d say the knowledge I’ve gained at AAT Weekenders has broadened my skills and improved my confidence in my own capabilities.

If you haven’t been to a previous AAT Members’ Weekender, I’d recommend it because:

  • you’ll become part of a peer network that means you’re not alone with your problems
  • you’ll have access to wide range of seminars all in one place
  • it’s a nice environment to learn in, away from your normal working surroundings.

8. Judi Vidler ACMA CGMA MAAT, AAT Sussex branch committee member

AAT’s Members’ Weekenders are a great way to update knowledge in many different areas, fulfilling many CPD requirements in the process.

Not only that, but they’re fun! Topical quizzes, gala dinners, great conversations with your peers and fantastic venues make the weekend entirely enjoyable.

Learn more about AAT’s 2012 Members’ Weekender and book your place

How to deal with office bullying

Research has shown that one in ten office workers experience office bullying – a figure that has doubled in the last decade. AAT member Caroline Smith shares her experience of this taboo subject.

‘Just a minute, aren’t you coming with us?’ a friend asked.  The penny had finally dropped.  There were four of us that worked together and a day trip to London had been organised with a train ticket for four people.  However, it was never intended that I would be in the original line-up as the day had been organised by my long-standing foe.

At the time, I was in my first proper job so when I had started working there I wasn’t feeling particularly confident, although I had tried to give the impression that I was.  The battle lines had probably been drawn the first day I walked in.

You see I was young, I was single at the time and I was earning a little bit of money.  It was only a little bit of money as well, but it was a little bit more than my office nemesis and without a family of my own, I had a reasonable freedom to spend it as I wished.  Worse than this, justification for hate at first sight was cemented by the fact that I lived in what my antagonist deemed to be a ‘posh’ area.

It is fair to say that from the beginning the odds were stacked against me.  What followed was five years of general nastiness.  Every opportunity was taken to goad me about how I was a snob, how I earned too much money for my job and how I didn’t have a boyfriend or, later on, how I did have a boyfriend. She couldn’t make up her mind.

Best of all, if I did manage to make a mistake she had a wonderful excuse to point it out to the boss.  In fact, one day he did say ‘don’t worry about what she’s saying about you – we all know what she’s like’.  Well, I didn’t know what she was saying about me on that particular day, but it must have been bad for my line manager to mention it.

By this time I was engaged and I was more irritated by her constant reminders of how many people she knew had spent thousands on their weddings only to divorce within a few years, and how this could so easily happen to me.  True enough, perhaps, but inappropriate to keep saying it, and saying it with such a smug smile (for the record, we’ll be celebrating our 10th anniversary this year).

My response was to rise above it and do my best to ignore it and dismiss it as the childish jealousy it was. Hard to do when someone is making a big display of not talking to you.  I thought that I just had to put up with this as everyone was bound to take her side anyway.  In this belief though, I was quite wrong.  In fact, I found support from others who had seen what was going on but, like me, were reluctant to bring attention to it.

Surprisingly it was my line manager who actually asked if I wanted him to do anything about the situation and he was the one who called it ‘bullying’.  Personally I thought that was a bit extreme, and it seemed draconian to take disciplinary action against something relatively minor.  I couldn’t see what it would achieve anyway.  More than anything I did not want to be seen to be ‘as bad as’.   However, instead of being what I hoped would be a shining example of ‘good’ behaviour I just left myself open to be more of a target as I was seen as weak.

Needless to say I didn’t join the trip to London as I diplomatically claimed I couldn’t go.  The whole experience though has left me with a great deal of empathy for anyone who has been bullied in any way whatsoever.  Whether you are the object of derision or the line manager who has to sort it out, bullying is notoriously difficult to deal with.

Here are some top tips if you do have to deal with an office bully:

•    Tell yourself that no-one has the right to bully you, no matter how you perform
•    You don’t have to resolve the situation yourself – your HR team should know how to handle the situation
•    Document the bullying, being specific about words, circumstances, times and dates
•    Steel yourself – you will need to be patient
•    Don’t start an email war – it might harm your chances of a successful resolution

Claiming expenses the right way

In the final part of her posts on setting up your own business AAT member, Lucy Cohen of Mazuma, guides you through the maze of claiming expenses.

What can I claim for?

Ah, the age old question of whether something is tax deductible or not.  This can be a real headache for new business owners and the answers can be limitless.  My first advice would be that if you are not sure, check with your accountant or HMRC first.  There are a few general rules that can be followed which should keep you in line with the rules.

Expenses to claim

  • The cost of any goods or services you use fully for your business can be deducted from your sales revenue for tax purposes. Where an item is used partially for your business and partly for private purposes, such as your private car or home, you can claim the business proportion of the costs against your business profits. However, you must be able to justify the business proportion with evidence such as the miles driven, or space used by the business, so once again, keep on top of your record keeping.
  • Capital allowances. If you purchase an item that is expected to last several years, such as a van, you can claim a special deduction known as a capital allowance. The first £25,000 you spend on equipment each year qualifies for 100% capital allowances in the year of purchase. This does not include cars though.
  • Loan interest. If you take out a business loan the interest paid on that loan can be deducted from your sales revenue. The loan must be taken out to fund your business, rather than a personal loan or credit card borrowings.

Expenses not to claim

Anything that you don’t use in the business – that should be fairly obvious.

Entertaining costs – unfortunately taking clients out for drinks is not a valid business expense. There are rules that allow for staff entertainment costs, but obviously you have to have staff, taking yourself out for drinks and calling it a staff party just doesn’t cut it with the Taxman.

Many people think that buying a box at a sporting event under the business name would automatically be regarded as advertising, rather than entertaining but this isn’t the case. To promote your business through having a box at a football club, sponsoring a car rally, you need to show a true attempt to benefit the business in order for it to be tax deductible.

Lucy’s first post in this series concentrated on the tax hurdles you face when starting a business, while her second post offered tips for becoming a sole trader.

You can follow Lucy on Twitter.

London 2012 Olympics: the big numbers

To commemorate 100 days to go until the London Olympic Games begin, Steven Perryman crunches the numbers of the self-proclaimed biggest show on earth

Today marks 100 days until the London Olympics begin. Dubbed ‘the biggest show on earth’, it is effectively 26 world championships over 19 days. All in one place. Since winning the bid in 2007 we have had celebration, excitement – and that ticket fiasco. What continues to amaze is the sheer size and scale of the event, as these number show

The Olympics

3. The number of times London has hosted the modern Olympics – more than any other city.

26. The number of sports that will be contested. It’s not all athletics, you know. Anyone up for Beach Volleyball or the Modern Pentathlon?

205. The number of countries represented this Summer. Who will be this year’s Eric Moussambani?

20,000. The amount of media and broadcasters that will be covering the Games. That’s a lot of coffee.

7.6 million. The number of tickets (yes, really) that are available. Although you wouldn’t believe it if you had gone through the much-maligned ticket ballot.

The Olympic Park

357. The number of football pitches you could fit onto the park. If you wanted to, that is.

4,000. The number of newts that were relocated from the park to the Waterworks Nature reserve.

500,000. The number of plants in the park’s wetlands areas. Who’s counting?

The venues

53m. The height of the Olympic Stadium: three metres taller than Nelson’s Column.

17,500. The number of seats at the Aquatics Centre during Games time. Dare I say it, but that’s a lot of tickets.

35m. The height of the Basketball Arena, the same as the Tate Modern. Has the British crowd got more chance of understanding the Damien Hirst exhibition at the gallery, than it has the rules of basketball?

76. The number of lifts in the Olympic and Paralympic Village to ensure the buildings are fully accessible.

1.3m. Amount of soil (in tonnes) that has been washed to get rid of contamination.

Business

68%. The percentage of companies that won contracts for the Games that are small- or medium-sized (SME).

98%. The percentage of these SMEs that are UK-based. Scandalously, this doesn’t include the company printing those sought-after tickets.

75,000. The amount of business opportunities that are expected to be created.

During the 2012 Games

800,000. The number of people expected to use public transport to travel to the Games on the busiest day: more than the entire population of Leeds. You’re thinking what I’m thinking, right?

25,000. The number of people that could be transported to and from Stratford International Station each hour on the Javelin train from St Pancras International station, in less than seven minutes. Note: you can’t use your Oyster on this service – you need a separate ticket. Damn!

1m. The number of people who will visit the Olympic Stadium – again, if they have a ticket.

Sports equipment

900,000. The number of items of sports equipment that will be needed, including:

  • 3 metal detectors for Beach Volleyball. What for? To stop men bringing their cameras in, I’m guessing.
  • 92 ball pumps for Water Polo, Basketball, Handball, Football (insert your own ‘hot air’ joke here)
  • 2,700 footballs. Is Andy Carroll doing shooting practice?
  • 2,200 dozen Tennis balls. Is Andy Murray doing serving practice?
  • 8 trampolines.
  • 65,000 towels. Who’s doing the laundry?

Finally, one last number. In case you missed it, it is 100 days until Danny Boyle’s opening ceremony is unleashed on the world. For so many different reasons, we can’t wait for that.