Category: Business

Comments Off on Quarter of Small Businesses in the UK Expect to go Bust by 2024

Quarter of Small Businesses in the UK Expect to go Bust by 2024

Quarter of Small Businesses in the UK Expect to go Bust by 2024

A quarter of small business owners in the UK believe their company will fold in the next four years, research has claimed. Late payments (54%), tax rates (44%) and cyber-attacks (27%) were the biggest concerns among the 500 owner-managers polled by cloud accounting software provider Xero. Other challenges included Brexit (44%), maintaining or boosting levels … Continued

Comments Off on Budget will not take place on 6 November 2019

Budget will not take place on 6 November 2019

Budget will not take place on 6 November 2019

On 25 October 2019 the Chancellor of the Exchequer Sajid Javid wrote to the Treasury Select Committee to confirm that the Budget will not take place on 6 November 2019 as originally planned. You can access the oficial letter here. We will ensure that we keep you informed of any further developments.

Comments Off on Apprenticeship ‘Starts’ Fall by a Quarter

Apprenticeship ‘Starts’ Fall by a Quarter

Apprenticeship ‘Starts’ Fall by a Quarter

The number of people starting apprenticeships has fallen by 26% since the Government’s reforms to the apprenticeship system, according to a report from the National Audit Office (NAO). In April 2017, the Department for Education (DfE) introduced several changes to the apprenticeships scheme, including a levy on large employers and a co-funding requirement from smaller … Continued

Comments Off on EU VAT Refunds Before Brexit No-Deal

EU VAT Refunds Before Brexit No-Deal

EU VAT Refunds Before Brexit No-Deal

If the UK leaves the EU without a deal many UK businesses will need to apply the same processes to EU trade that apply when trading with the rest of the world. The VAT paid in other EU countries is often recoverable by VAT- registered businesses in the UK, who bought goods or services for … Continued

Comments Off on Government Launches Service To Prepare Firms For EU exit

Government Launches Service To Prepare Firms For EU exit

Government Launches Service To Prepare Firms For EU exit

The Government has launched a new website service to help businesses prepare for the UK’s exit from the EU later this month. ‘Prepare your business for leaving the EU’ is an online tool that provides information on specific rules and regulations, and aims to inform business owners of what is changing in their sector. The … Continued

Comments Off on UK “No Deal” Brexit Planning Checklist

UK “No Deal” Brexit Planning Checklist

UK “No Deal” Brexit Planning Checklist

There is still uncertainty around what Brexit will mean and planning for a “No Deal” scenario seems sensible right now. The Government has published guidance: “UK government’s preparations for a no deal scenario” and it continues to provide updates on how to prepare for the event. See: https://www.gov.uk/government/publications/uk-governments-preparations-for-a-no-deal-scenario Businesses that buy and sell from the … Continued

Comments Off on Brexit Guidance From HMRC

Brexit Guidance From HMRC

Brexit Guidance From HMRC

New HMRC guidance on a no-deal Brexit has outlined steps British businesses need to take right now if they are importing or exporting goods. According to this HMRC guidance, there are three steps UK businesses need to take now: Register for a UK Economic Operator Registration and Identification (EORI) number.  Businesses will need an EORI … Continued

Comments Off on Small Retailers Get Business Rates Boost

Small Retailers Get Business Rates Boost

Small Retailers Get Business Rates Boost

Small retail businesses in England will see a reduction to their business rates, as announced in Budget 2018. Business rates will be reduced by a third for many retail properties with a rateable value below £51,000 for two years from April 2019, subject to state aid limits. The Chancellor said this will mean “an annual … Continued

Comments Off on Budget 2018: Tax and Business Round – Up

Budget 2018: Tax and Business Round – Up

Budget 2018: Tax and Business Round – Up

At a time of political and economic uncertainty, the announcement of several substantial measures in the Budget on 29 October 2018 came as a surprise for many businesses. In fact, the Budget was met with an overall positive reception from industry groups, with the FSB calling it the Chancellor’s “first small-business-friendly Budget”. A range of … Continued

Comments Off on Most Small Businesses Receive Funding Boost

Most Small Businesses Receive Funding Boost

Most Small Businesses Receive Funding Boost

The overwhelming majority of small businesses that applied for finance in the first six months of 2018 were successful, statistics show. UK Finance commissioned market research firm BDRC to carry out its SME Finance Monitor Q2 2018 and found 85% of small businesses in the UK secured finance in the first half of the year. … Continued