News and Events

Entrepreneurs urged to check for professional qualifications

UK small businesses could be damaging their growth prospects by paying accountants who aren’t even qualified, an accountancy body has warned. The ACCA (the Association of Chartered Certified Accountants) issued the alert on 27 May, after research from cloud accounting software provider ClearBooks showed just eight per cent of small businesses considered an accountant’s qualifications when choosing one. ACCA warned that there was no law Read more…

Late payments still high on business agenda

Late payment remains a concern for many small businesses, according to the latest research from the national small business group, the Forum of Private Business. In the organisation’s latest banking and finance survey, published on 13 May, 23 per cent of members reported an increase in late payment over the past year compared with only three per cent who reported a decrease. A total of Read more…

IP protection stepped up

UK businesses will be able to better protect their intellectual property rights in the UK and abroad as new legislation was given the final go-ahead. A key part of the new Intellectual Property Act, which received Royal Assent on 14 May, is to create new powers for the UK to implement the Unified Patent Court Agreement – a central part of introducing a single patent Read more…

Businesses give verdict on banks

Thousands of UK businesses have given a frank assessment of banking services on a groundbreaking new website. The Business Banking Insight (BBI) website, which looks at how well the UK’s small and medium-sized enterprises (SMEs) are being served by banks, went live on 28 May. Commissioned by Chancellor of the Exchequer George Osborne, BBI is designed to help businesses make better informed banking decisions. It is Read more…

Tax crackdown brings in extra £23bn

New figures from HM Revenue and Customs (HMRC) have revealed that it brought in a record £23.9 billion in extra taxes over the last year, after stepping activity to make sure people pay all the tax they owe. The additional tax, brought in through HMRC investigations, on top of funds collected from those who pay their taxes on time, is up £3.2 billion on the previous Read more…

‘Top-ups’ plan comes a step closer

Further details have been published of a time-limited opportunity for pensioners to make extra national insurance contributions (NICs) top up their state pension. The scheme was originally announced as part of the Autumn Statement on 5 December last year and Budget 2014 confirmed that it would be open for 18 months from October 2015 and would be available to everyone reaching state pension age before Read more…

Late payments ‘remain a worry’

Late payment remains a concern for many small businesses according to the latest research from the national small business group, the Forum of Private Business. In the organisation’s latest banking and finance survey, published on 22 April, 23 per cent of members reported an increase in late payment over the past year compared with only three per cent who reported a decrease. A total of Read more…

Speak up on auto-enrolment issues, employers urged

Employers struggling to meet their automatic enrolment duties should raise the alert with the Pensions Regulator sooner rather than later, the organisation has warned. The alert came as the regulator published its first automatic enrolment report under section 89 of the Pensions Act 2004, designed to help employers avoid non-compliance. The report, issued on 24 April, set out problems experienced by homewares and soft furnishings Read more…

Property tax net set to catch non-residents

The government has launched a consultation on its proposals to introduce capital gains tax (CGT) for non-UK residents when they dispose of residential property, which could have significant implications for overseas property investors. UK residents pay capital gains tax on disposals of any residential property that is not their main home, including on gains made on any residential property owned abroad. However, gains made by Read more…

HMRC targets second incomes

Employees who have undeclared income from self-employment are being urged to notify HM Revenue & Customs (HMRC). HMRC published guidance on its Second Incomes Campaign 9 April aimed at employees who have additional income from working for themselves, for example through: consultancy work, e.g. for providing training organising parties and events providing services like taxi driving, hairdressing or fitness training making and selling craft items Read more…