Confidence amongst small businesses has tumbled to a seven-year low – in part due to the uncertainty of Brexit. A survey carried out by the Federation of Small Businesses (FSB) has found that nearly one in three small exporters think that sales to overseas customers will fall during the early Read more…
The cash flow difficulties that late payments cause small businesses are well known. However, the cost of recovering late payments is less well publicised, despite being a major and growing expense – coming in at around £9,000 last year for an average business. Research by Bacs Payment Schemes found that Read more…
The Office for Tax Simplification (OTS) has said that smaller and less complex estates should not be subject to the requirement to file Inheritance Tax (IHT) paperwork. The call was part of a review into IHT, which Chancellor Philip Hammond ordered earlier this year. While just five per cent of Read more…
The fifth annual UK Alternative Finance Industry Report has revealed a 65 per cent year-on-year increase in peer-to-peer (P2P) lending. The P2P lending market is now worth £2 billion and small and medium-sized enterprises (SMEs) appear to be the dominant force behind it. To put the rise of P2P lending Read more…
Figures released by HM Revenue & Customs (HMRC) have revealed that 180,500 first-time buyers have benefited from the Government’s changes to Stamp Duty Land Tax (SDLT). HMRC estimates that first-time buyers have saved a total of more than £426 million since Chancellor Philip Hammond announced the First-Time Buyers’ Relief (FTBR) Read more…
While a series of false starts and changes of direction have made Making Tax Digital (MTD) seem more complicated than it might need to be, new e-invoicing requirements that come into effect in Italy from 1 January 2019 make it look like a walk in the park. The Italian tax Read more…
The House of Lords Economic Affairs Committee has criticised HM Revenue & Customs (HMRC) for its handling of Making Tax Digital (MTD) and called for a delay to some of the regime’s mandatory requirements. The majority of VAT-registered businesses with taxable turnover above the VAT registration threshold of £85,000 will Read more…
New research from the World Bank has revealed that the UK has the second most effective tax system amongst the G20 nations for tax compliance and ease of paying corporate taxes. According to the survey, companies take an average of 105 hours per year to prepare and file their taxes Read more…
Christmas is a time for giving, but many businesses may not be aware that their gifts can be made in a tax-efficient manner, which could make raising festive spirits that little bit cheaper. While Christmas parties may not be for everyone, HM Revenue & Customs (HMRC) does provide an allowable Read more…
In his latest Budget speech to the Commons, Chancellor Philip Hammond announced that the National Living Wage and National Minimum Wage would increase from April next year. However, despite many employees across the UK welcoming this sudden pay rise, small business owners across the UK are being left to pick Read more…
