With a General Election looming on the horizon, Jeremy Hunt rose to deliver his second Autumn Statement as Chancellor in the knowledge that his latest measures could have a substantial impact, not only on the future economic success of the nation but the electoral success of his own party. Taking away the politics from his…
Financial initiatives to support business growth are continually being announced by the Government, local authorities, individuals and private-sector companies. Funding from private companies often aims to nurture specific industries, particularly high-growth sectors like technology, sustainable manufacturing and healthcare. They might target general growth or specific projects, such as the development of a new product. If…
Recent years have held a lot of uncertainty for small and medium-sized enterprises (SMEs) and independent businesses. While there are signs of recovery, SMEs have seen slow growth in recent months. However, with employment increasing at a faster pace than in large firms, there is a variety of ways in which small businesses can protect…
HM Revenue & Customs (HMRC) has recently launched a consultation on new rules aimed at simplifying the reporting of salary advances. This change is expected to have a significant impact on employers, streamlining administrative processes and reducing costs. Under existing legislation, salary advances are treated as a payment on account of earnings. Employers are required…
Research and development (R&D) tax relief claims are a vital way to offset your business costs against profits and promote technological innovation and advances. However, filling in the mountain of paperwork associated with R&D claims can be tedious and time-consuming – and has only gotten more so with recent changes. Almost half of businesses that…
As experts in the field of accountancy, we understand the unique challenges business owners face when it comes to payroll. We’ve put together three essential tips to help you manage maternity and paternity pay, ensuring legal compliance and employee satisfaction. Understand the statutory requirements: In the UK, employees are entitled to Statutory Maternity Pay (SMP)…
Stagnation is a prolonged period of little or no growth in the economy and it can have a serious impact on your business. Whilst talking to The Guardian, Samuel Tombs, a leading UK economist, claimed that stagnation will cause “businesses to cut employment and investment, and trigger a sharp decline in residential investment.” He added:…
After the fourteenth consecutive increase in interest rates since 2021, many business owners will be asking themselves the same thing: “When will interest rates finally fall?” The higher the interest rates, the more money you pay on your debts like loans, overdrafts, and credit cards. Equally, many of your customers will also face higher costs…
You must file your company accounts, to avoid late filing penalties, Companies House is warning. All companies must file annual accounts with Companies House each year, regardless of whether they are trading or not, or whether they are public or private. This applies to both large and small companies. LLPs are also subject to these…
