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A quarter of SMEs fear they will go bust within five years

Dec 12, 2019

According to research from accounting software platform Xero, a quarter of small business owners believe their company will go bust within the next five years. Four in 10 owners of small to medium-sized enterprises (SMEs) claim to be going through the ...

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Late payments are significantly affecting UK SMEs

Dec 09, 2019

According to MarketFinance Business Insights, small and medium-sized enterprises (SMEs) are experiencing greater delays in receiving payments, with the average length of time doubling from 12 days to 23 days over the past year. The latest analysis revealed that these invoices ...

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VAT receipts rise to record £133 billion

Dec 02, 2019

The amount of VAT collected in the last 12 months has risen to a record £133 billion, with a significant contribution from the retail and wholesale sectors. The latest figures from HM Revenue & Customs (HMRC) indicate that revenue has increased ...

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Fall in number of arrests for tax evasion

Nov 28, 2019

According to industry figures, the number of people arrested in the UK on suspicion of tax evasion has reached the lowest level for five years. The figures obtained by law firm RPC revealed that there were 782 arrests made during 2018/19, ...

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A tax guide for SMEs

Nov 25, 2019

According to accounting software provider, QuickBooks, over 50 per cent of UK small and medium-sized enterprise (SME) owners have made a mistake when filing their VAT returns, while just a quarter (25 per cent) feel confident that they have filed their ...

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Majority of employees uncomfortable discussing finances at work

Nov 21, 2019

According to the latest research, two-thirds of employees do not feel comfortable talking about their finances at work, despite more than a fifth of people struggling to make ends meet. The research published by Business in the Community as part of ...

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Business owners hit by flooding granted “immediate relief” from business rates

Nov 18, 2019

Business owners hit by recent flooding will have “immediate relief” on their business rates, it has been announced. Confirming the move today, the Prime Minister said both businesses and households will be exempt from council tax and business rates. It comes after ...

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Millions at risk of being left behind by a cashless society

Nov 14, 2019

According to the latest research, cash usage is declining throughout the world, with credit/debit cards, bank transfers and eWallets becoming the most popular method of payment during the last year. The increase in the use of contactless payments systems has also ...

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HMRC’s five money-saving tips

Nov 11, 2019

HM Revenue and Customs (HMRC) has highlighted five money-saving tips to help boost your finances. First-Time Buyers’ Relief If you are a first-time buyer you can claim First-Time Buyers Relief on your property purchase made on or after 22 November 2017. This means that you ...

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Government announces £56 million funding to boost business productivity

Nov 07, 2019

The Government has launched a new £56 million wave of funding in a bid to boost productivity throughout the UK economy. The UK ranks as one of the best places in the world to start and grow a business, with around ...

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