Cybersecurity failings are rife amongst UK SMEs

Cybersecurity failings are rife amongst UK SMEs

UK-based SMEs are not doing enough to ensure the data they hold is secure, it has been reported. Findings from a newly-published report show that more than two out of three SMEs considered that there was room for improvement in protecting their business data, while four out of 10 questioned said they did not have a cybersecurity policy in place. The figures were published with Read more…

OECD calls on UK to increase tax on self-employed

OECD calls on UK to increase tax on self-employed

A report from the Organisation for Economic Co-operation and Development (OECD) has called on the UK Government to revive its plans to increase National Insurance Contributions (NICs) for the self-employed. Earlier this year, during the Spring Budget, the Chancellor of the Exchequer, Philip Hammond, announced that the Government would seek to abolish Class 2 NICs for the self-employed and instead subject them to Class 4 Read more…

Deadline to comply with new trusts rules extended by two months

Deadline to comply with new trusts rules extended by two months

The deadline to register trusts and estates under new rules has been extended by two months, following complaints that the original deadline was too ambitious, potentially leaving many unable to comply. Under the new rules, trusts and estates that have a tax liability are required to register with the HMRC trusts and estates online service by 5 October in the tax year after they were Read more…

The future of company vehicles

The future of company vehicles

The UK Government has pledged that by 2040 all new cars sold will need to be either electric or some form of plug-in hybrid. However, before this deadline was even announced many within the motor industry believed that by 2025 as many as one in three cars will incorporate an electric power plant. Much of this has been spurred on by new research which shows Read more…

Britain’s small business economy is expected to grow nearly a fifth by 2025

Britain’s small business economy is expected to grow nearly a fifth by 2025

The UK’s small business economy is expected to grow by nearly a fifth in total by 2025, but some areas are predicted to grow much quicker than others. The predictions result from a survey by Hampshire Bank Trust and the Centre for Economics and Business Research (CEBR). The CEBR research predicts that alongside the growth in the value of SMEs to the economy, the total Read more…

Over-50s cutting back on essentials to leave inheritance

Over-50s cutting back on essentials to leave inheritance

According to new data from Populus, nearly half of people aged over 50 are willing to forgo luxuries in later life to leave a larger inheritance for their children. The study, commissioned by Saga Money, also found that 80 per cent of over 50s intended to pass some form of inheritance on to their children.  As well as leaving an inheritance, around 40 per cent Read more…

HMRC to implement changes to how it is paid

HMRC to implement changes to how it is paid

HM Revenue & Customs (HMRC) is to change the way that taxpayers and their agents can make payments. From 15 December 2017 and 13 January 2018, the pay at the post office service will be withdrawn and HMRC will no longer accept payment by personal credit card. However, the Revenue has confirmed that taxpayers will still be able to use debit cards and corporate credit Read more…

Inaugural Autumn Budget date announced

Inaugural Autumn Budget date announced

The Chancellor, Philip Hammond, has announced that the first Autumn Budget to take place since the set-piece statement’s move to the end of the year will be on Wednesday 22 November 2017. Mr Hammond announced at the Autumn Statement in 2016 that there would no longer be two major fiscal statements each year. This means that the Autumn Statement has been replaced by the Autumn Read more…

The Finance Bill is back and little has changed

The Finance Bill is back and little has changed

Earlier this year the Government announced that a number of the controversial provisions within its Finance Bill would be dropped ahead of June’s snap general election to ensure an easy passage to Royal Assent. Making Tax Digital and a number of other flagship proposals were subsequently left by the wayside, creating a great deal of uncertainty about their long-term future. However, these provisions have been Read more…