When it comes to managing finances, it’s important to have a reliable, chartered accountant to audit your accounts. An accountant can help you keep track of your financial records, ensure compliance with tax laws, and provide valuable advice on how to grow your business. However, finding the right accountant can be a daunting task, especially[…]
Businesses at any stage in their life cycle can benefit heavily from creating and implementing a business plan. Not only is a business plan there to map out your goals and aspirations, but also to identify any financial risks and operational challenges you may encounter. According to research conducted by Fundsquire, 20% of small businesses[…]
A new survey from the British Chambers of Commerce (BCC) reveals that business confidence declined significantly in Q3 compared to Q2 of this year. 5,200 firms that took part in the BCC’s quarterly economic survey. 39% of those businesses believe they will see a fall in profits over the next 12 months. Inflationary pressures are[…]
Late September into mid-October has been a turbulent time for the Government. Its been a confusing time (at best) for taxpayers, after former chancellor Kwasi Kwarteng’s fiscal statement. On 17 October, the new chancellor, Jeremy Hunt, reversed around two thirds of the tax cuts in the fiscal statement. This included complicated changes to the controversial[…]
Nobody wants one, but a recession in the UK is looming. The Bank of England (BoE) and British Chambers of Commerce (BCC) predict the UK will enter one before 2023. The monetary policy committee of the BoE wrote: “The latest rise in gas prices has led to another significant deterioration in the outlook for activity[…]
After much anticipation from accountancy bodies and businesses, HMRC has finally updated its guidance on Making Tax Digital (MTD), filling in several blanks. HMRC updated some of its informational pages on GOV.UK in late August, including fresh information on how to meet the requirements for MTD for income tax self-assessment (ITSA) and how to sign[…]
Research and development (R&D) tax credits were once a little-known tax incentive for companies which invested in innovation. However, rules have changed in recent years, and many tax advisors have pushed them. Therefore, they are now much more widely understood and used. They may no longer be much of a secret, but they are still[…]
The Government has set up an arbitration system to help resolve outstanding commercial rent debt. This is following the general moratorium on commercial eviction ending. From 25 March, a legally binding arbitration process is available. This is in place for eligible landlords and tenants who have not yet reached an agreement. The Government hopes this[…]
You don’t have to spend long running a business before you realise how important cashflow is. Cashflow is the balance between money coming into your company and the money going out on a weekly or monthly basis. There’s not much in commerce more likely to give you sleepless nights than cashflow. As it’s hard to[…]
There is a call for the Treasury to reconsider the National Insurance contribution (NIC) increase. There was supposed to be a change in this area from next month. However, it is believed it may negatively impact apprenticeship programmes. The NIC rates will increase by 1.25% from April 2022. This is to help pay for the upcoming health-and-social-care[…]