17-07-2023
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
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17-07-2023
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
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17-07-2023
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,
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17-07-2023
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
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27-06-2023
For many travel businesses, chasing clients for payments is not a happy experience. Slow-paying customers and "book now, pay later" offerings can negatively influence business cash flow, creating and compounding operational problems. No matter how profitable your business is, payment delays can soon lead to prolonged difficulties. The industry has significantly extended periods between consumer
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26-06-2023
Times of crisis and rapid social change often bring new business models, opportunities and ways services are delivered. The pandemic was such a moment, forcing businesses to re-evaluate how they worked and to find new ways of operating that reduced risk but enabled them to maintain their service. The restaurant and hospitality industry were profoundly
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26-06-2023
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
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05-06-2023
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
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05-06-2023
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
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05-06-2023
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
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05-06-2023
It is important for employees to feel valued in the workplace. A lot of the time, it is the little things that employers can provide to their staff that have the most substantial impact. One such ‘little thing’ is the concept of trivial benefits in kind. Trivial benefits are best described as small ‘token gifts’
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05-06-2023
In the Spring 2023 Budget, the Government laid out plans to shake up the current free childcare system – but many higher earners will be disappointed to find that the changes keep them excluded from the scheme. The existing childcare rules mean that parents are eligible for up to 30 hours of free childcare if
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The Landmark Environmental Pollution Case That Could See Thousands Compensated
The Landmark Environmental Pollution Case That Could See Thousands Compensated A landmark environmental pollution case has reached the High Court, with more than 4,500 people who live or work near the rivers Wye, Lugg, and Usk joining legal action against one of the UK’s largest chicken producers and a water company. The case, which is being touted […]
