The number of individuals participating in the UK’s ‘hidden economy’ is increasing according to recent research. A surge in additional income streams, from moonlighting to online trading, has led to millions of taxpayers failing to declare additional earnings to HM Revenue & Customs (HMRC). HMRC’s latest figures highlight the extent of this issue. They showed […]

In times of economic uncertainty, businesses should have a clear plan to ensure that they can navigate any potential financial pitfalls. One of the best ways businesses can do this is with the use of management accounts. What are management accounts? Management accounts are financial reports that contain information vital to your business, such as

New research from wealth management firm Evelyn Partners has revealed that the majority of business owners with companies that earn more than £5 million annually are preparing for an exit. With 65 per cent of UK business owners contemplating the sale of their company, and almost half intending to do so within the next year,

Small and medium-sized businesses (SMEs) have struggled to access finance from banks for a while, with many having to turn to alternative lenders and sources to secure much-needed funding for investment. However, the scale of this issue has not previously been explored in significant detail until now. A new study has found that almost three-quarters

Late or missed payments are a perennial challenge for businesses of all sizes. If you are running a start-up or growing a business, too many missed or late payments can impact cash flow and become a major problem. In some cases, a persistent problem with late or missed payments can even threaten the future viability

There have been several important tax decisions previously regarding the difference between vans and cars, but how do the different rules regarding electric vans affect their tax treatment? Let’s use a hypothetical: A Ltd has acquired a new electric company van that its director, Bob, uses to go to and from work, as well as

With a growing number of company car owners using electric vehicles, many are deciding or being permitted to use company credit cards to pay for roadside charging. However, what are the implications of this for the employee and business alike? While the answer is fairly technical, the short simple answer is there will be no

The 2020/21 tax year saw 1.4 million people charged interest on overdue tax payments – a 15 per cent increase on pre-pandemic figures. The data was released after a Freedom of Information request by investment platform, AJ Bell, but this did not disclose how much money HM Revenue & Customs (HMRC) raised from these late