Author Archives: Anna Cummings

Comments Off on Autumn Budget 2017 Round-Up

Autumn Budget 2017 Round-Up

Autumn Budget 2017 Round-Up

A range of measures designed to boost business and productivity were announced in Autumn Budget 2017. Amid a background of discontent surrounding business rates, chancellor Philip Hammond revealed future increases will be determined by the Consumer Prices Index measure of inflation from April 2018. The measure comes into effect two years earlier than originally planned … Continued

Comments Off on Treasury Delays Abolishment of Class 2 National Insurance

Treasury Delays Abolishment of Class 2 National Insurance

Treasury Delays Abolishment of Class 2 National Insurance

Chancellor Philip Hammond has delayed the decision to abolish class 2 national insurance contributions (NICs) by 12 months. The policy, which was first announced by Hammond’s predecessor George Osborne in 2016, would have seen class 2 NICs incorporated in reformed class 4 NICs from April 2018. Self-employed workers earning less than £6,025 in 2017/18 can … Continued

Comments Off on Number of Businesses Soars to 5.7m

Number of Businesses Soars to 5.7m

Number of Businesses Soars to 5.7m

The number of private sector businesses in the UK hit a record high of 5.7 million at the start of 2017, according to government figures. Annual statistics from the Department for Business, Industry, Energy and Strategy showed a year-on-year rise of 197,000, compared to the same time in 2016. The number of firms in 2017 … Continued

Comments Off on New GDPR Advice Service Aimed At Small Organisations

New GDPR Advice Service Aimed At Small Organisations

New GDPR Advice Service Aimed At Small Organisations

The Information Commissioner’s Office (ICO) launched on Wednesday 1 November at 10am to help small organisations prepare for a new data protection law.The phone service is aimed at people running small businesses or charities and recognises the particular problems they face getting ready for the new law, called the General Data Protection Regulation (GDPR). The GDPR replaces … Continued

Comments Off on UK Interest Rates Rise for the First Time in 10 years – Despite Warnings

UK Interest Rates Rise for the First Time in 10 years – Despite Warnings

UK Interest Rates Rise for the First Time in 10 years – Despite Warnings

Liverpool accountancy firm boss Peter Taaffe says the Bank of England’s quarter point rise to 0.5% will impact on both small businesses and homeowners. Tony McDonough reports Bank of England policymakers have raised the UK interest rate for the first time in a decade – pushing up the rate from 0.25% to 0.5%. The bank’s … Continued

Comments Off on Personal Credit Card Payments to HMRC Will Stop in January

Personal Credit Card Payments to HMRC Will Stop in January

Personal Credit Card Payments to HMRC Will Stop in January

HMRC have advised that from 13 January 2018, they will no longer be accepting payments from personal credit cards. HMRC have accepted credit card payments from individuals, but from 13 January 2018, this method of payment will no longer be available. HMRC’s hand has been forced due to a change in EU law, which prohibits … Continued

Comments Off on Apprenticeship Levy Leaves Firms Baffled

Apprenticeship Levy Leaves Firms Baffled

Apprenticeship Levy Leaves Firms Baffled

Almost a quarter (23%) of businesses paying the apprenticeship levy has no understanding of how it works – six months after its introduction. 56% of more than 1,400 firms surveyed by the British Chambers of Commerce (BCC) did not expect to recover their payment, despite receiving an annual allowance to offset against the bill. As … Continued

Comments Off on Late Payments Continue To Hit SMEs

Late Payments Continue To Hit SMEs

Late Payments Continue To Hit SMEs

Two-thirds (66%) of small businesses are feeling the effects of clients who fail to pay their bills on time, research shows. Banking group Close Brothers polled 900 small business owners and found the problem was particularly serious for 87% of SMEs in Northern Ireland, 73% in London and 72% in the South West. Late payments … Continued

Comments Off on Cautious Businesses Delaying Investment

Cautious Businesses Delaying Investment

Cautious Businesses Delaying Investment

Businesses are in no rush to make investments amid the ongoing uncertainty of Brexit, according to the Institute of Chartered Accountants in England and Wales (ICAEW). More than one in four businesses are delaying investment decisions as the government continues negotiations with the EU. As a result of their collective cautiousness, 61% of those firms … Continued

Comments Off on BWM Shortlisted for Two Responsible Business Awards

BWM Shortlisted for Two Responsible Business Awards

BWM Shortlisted for Two Responsible Business Awards

BWM are delighted to learn that we have been shortlisted in two categories for Liverpool Chamber’s Responsible Business Awards: Responsible Business of the Year and Empowering People and Communities. The winners will be announced at the Chamber’s Annual Dinner on Thursday 2nd November at the Rum Warehouse, hosted by actor and environmentalist Simon O’Brien. The … Continued