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Effectively apologising to customers

Posted on January 20, 2016 by admin

Quite often, the words ‘I’m sorry’ aren’t enough for an unsatisfied customer. Whether it is because you had to deny a request, made a mistake with an order or left a customer waiting to be served for too long, there will always a time when a business will need to apologise to their customer.

While it might seem tricky trying to find the right way to apologise to a customer, businesses should always remember that apologies are key to showing a business’s commitment to meeting their needs and satisfying their requests.

So instead of coming off as insincere with just an ‘I’m sorry’, here are some tips for delivering a genuine apology to a disgruntled customer:

Businesses need to be able to recognise the kind of language that conveys regret and remorse, and the kind that can turn an apology into a dismissal or condescension. Before apologising to a customer, make sure the words you use have any hint of defensiveness. Being testy or on edge can also make your apology come across as a non-apology.

Actively listening to a customer’s problem can help businesses come up with a good apology. It helps businesses understand exactly why they are issuing an apology. Customers are more likely to accept an apology if they believe that their struggle has been truly understood.

Sometimes what you are apologising for isn’t necessarily your fault. But if you’re the person who is representing as the face of a business, the blame will need to go somewhere. Apologise on behalf of your team and acknowledge where things went wrong. Taking responsibility shows customers that their issue hasn’t been taken lightly.

If a customer wants to know why something went wrong, the business must be able to tell them why. However, businesses also need to cushion an explanation with adequate measures of blame, e.g. “Your problem happened because of X. However, this is no reason why you had to wait for so long.”

Tell the customer what comes next or what options are available. Customers want to know that the business will actually make things right again.

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When do you have to pay tax on shares?

Posted on February 20, 2020 by admin

Investing in shares is a popular method of growing your wealth, however, there are tax obligations you need to be aware of to get an accurate sense of how much you’ll need to put aside for your investments.

When you own shares, you need to declare all your dividend income on your tax return. It is possible to claim tax deductions for certain expenses you pay to receive income from your shares. The deductions you are eligible for will depend on if you are carrying on a business of share trading or if you are an individual share investor, but they can include:

Individual share investors cannot claim a deduction for the cost of acquiring shares, such as costs for brokerage and stamp duty, however, they can claim deductions on the prepayment of expenses related to the shares such as internet fees or seminars.

Buying and selling shares can involve capital gains tax (CGT), depending on whether you make a capital gain or a capital loss on your shares. Your capital gains or loss is the difference between the price you paid for the shares and the price you sell them for. If you end up selling your shares for more than you paid for them, then you make a capital gain which may be taxed.

How much CGT you need to pay varies depending on:

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