17-07-2023
Office for National Statistics (ONS) data revealed that the Consumer Price Index (CPI) – the official measure of inflation – only fell to 8.7 per cent in the 12 months to May 2023. While the rate of inflation is not as high compared to previous months, where it peaked at 10.4 per cent in February,
Find out more
17-07-2023
The tax gap in the UK – the difference between the amount of tax owed and the amount that has been paid – remains wider than anticipated due to SMEs, according to HM Revenue & Customs (HMRC). The tax authority’s figures for 2021/22 show that small and medium-sized enterprises (SMEs) contribute significantly to the national
Find out more
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
Find out more
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
Find out more
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,
Find out more
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
Find out more
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
Find out more
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
Find out more
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
Find out more
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
Find out more
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
Find out more
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
Find out more
Need help? Contact us today
Subscribe to news
Matrimonial Disputes & Tax
Matrimonial Disputes & Tax Our specialist tax Partners, working alongside our Forensic team, provide independent expert advice and expert witness evidence on complex tax matters arising in matrimonial and family law disputes. We are appointed by applicants, respondents, jointly by parties, and by legal advisers, to support negotiations, mediation, other ADR proceedings, and family court […]
