Starting a new business? Get 40% off our accountancy services for 3 months! 😎


Robust figures for the service sector, which is accountable for almost 70 percent of UK output, indicate that it isn’t all doom and gloom for the UK economy, despite forecaster’s gloomy predictions. Data recently released indicates a huge jump in December for businesses in the service sector, including hairdressers, accountancy and legal advice.

Forecasters had predicted a disastrous final quarter of 2011, but the CIPS/Markit index of purchasing managers rose to 54 during December, in comparison to November’s figure of 52.2. A figure which is greater than 50 indicates the expansion of the sector. The index accurately tracks growth, indicating an improved outlook for employment and businesses.

December’s figures were far better than previously forecast, including construction, manufacturing and exports. According to Markit Economic Research, although the figures were much higher at the end of 2011, it was at its weakest pace since the second quarter of 2009, the recession.

According to financial group ING’s James Knightly, hopes for a recovery of the UK economy have received a much needed boost with the higher figures for construction and manufacturing. Strong sales were reported during the festive season by high street stores Waitrose, Clinton cards and JJB sports retailer. However, results of a survey conducted by the Bank of England warn that the euro banking crisis could result in the tightening of credit conditions. The end of the week saw the euro fall to its lowest in 16 months against the dollar and pound. The euro sank to its lowest against the Japanese yen in 11 years.

Notify of
Inline Feedbacks
View all comments

Read more posts...

What is a Non-Established Taxable Person for VAT?

There are special VAT rules in place for online sellers who are classed as non-established taxable persons (NETPs), and use an online…

Read More

The Accountancy Partnership – Our Positive Reviews

Here at The Accountancy Partnership, we’re proud of our customer reviews The reviews we receive from our customers show how hard we…

Read More

What Type of Legal Structure Should I Choose When I Start a Business?

The structure that you choose when you start a business affects how the business operates, the amount of tax you pay, how…

Read More
Back to Blog...

Confirm Transactions

The number of monthly transactions you have entered based on your turnover seem high. A transaction is one bookkeeping entry such as a sale, purchase, payment or receipt. Are you sure this is correct?

Yes, submit my quote
No, let me change it

Please contact our sales team if you’re unsure

VAT Returns

It is unlikely you will need this service, unless you are voluntarily registered for VAT.

Are you sure this is correct?

Yes, the business is VAT registered
No, let me change it

Call us on 020 3355 4047 if you’re not sure.


You will receive our bookkeeping software Pandle for free, as part of your package.

You can use this to complete your own bookkeeping, or we can provide a quote to complete your bookkeeping for you.

Please select and option below:

I will do my own bookkeeping
I want you to do my bookkeeping

Call us on 020 3355 4047 if you’re not sure.