One of the worst fears of an individual or business is an audit, enquiry or investigation instigated by a relevant government revenue agency. It is not only the process of compliance to tax and legislative requirements that is most stressing but the professional fees that has to be paid to the accountant. The best solution in such situations is Audit Shield, an insurance that will cover the unbudgeted costs.
Meanwhile, online shopping is being blamed for the boarding up of high streets in the United Kingdom. It makes sense for Amazon, the ecommerce giant to attach its name to a pilot project that is aimed at sparking some commercial life in the empty UK towns and cities. The year-long Amazon pop-up pilot program will explore a new model to help new online brands gain high street presence.
More than 100 small online retailers will be selling on UK high streets for the first time through time slots in 10 pop-up shops that will open between 6 and 8 weeks. The first pop-up has opened at St. Mary’s Gate in Central Manchester. The second pop-up is scheduled to open in Cardiff, Scotland, the Midlands, Yorkshire and across the South East during the course of the project.
The project is being funded by Amazon and Enterprise Nation, a partner organization for the program. Other partners for the pilot project include Direct Line for Business and Square. How much Amazon and its partners will be spending for the 10 pop-ups has not been revealed.
Most of the participating brands have successful online businesses like Clicks and Mortar pop-up shops where customers can purchase everything from home ware to health and beauty products, foods, drinks and electronics. These online retailers will be exploring physical retail for the first time. They will be selling directly to customers. Amazon has confirmed that it will not receive commissions.
However, it is important for businesses as well as individuals to ask their accountants whether Audit Shield is being offered as an insurance protection in case of an audit by a government revenue authority. If the accountant does not offer the insurance product, it is important to obtain more information on the cover.