Business accounting
Businesses urged to “get to grips” with new Patent Box regime as grandfathering rules come to an end
Aug 12, 2021
Businesses should “get to grips” with new Patent Box rules or risk missing out on corporate tax relief, a major regulator has warned. The new guidance, published by the Institute of Chartered Accountants in England and Wales (ICAEW), comes after grandfathering ...
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Cash basis versus accruals basis
May 25, 2021
If you manage a business and record its expenses and revenue, you need to find a recording system that suits you. While cash basis accounting has its benefits, accrual accounting can be a more powerful tool for operating your business. ...
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Claim up to 50 per cent off business software under new Help to Grow scheme
May 21, 2021
Small and medium-sized firms could get a discount of up to 50 per cent on the costs of business software under the new Help to Grow scheme, it has been revealed. The news comes after applications to register interest in the ...
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Online sales tax proposal for Autumn Budget
Feb 09, 2021
The UK Treasury is considering online sales tax for retailers such as Amazon, Asos and Ocado, after a drastic increase in online shopping and the current “uneven system”, has caused many in-store retailers to be at a disadvantage. Supermarkets, including Asda, ...
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Kickstart Scheme: the changes from 3 February 2021
Feb 02, 2021
According to a report by the Department for Work and Pensions (DWP), the Kickstart Scheme has supported over 120,000 young people find employment, since its launch in September 2020. The Government created the scheme to help 16-to-24-year-olds find work by providing ...
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Voluntary and compulsory strike off processes paused in response to national lockdown
Jan 29, 2021
Companies House will pause both the voluntary and compulsory strike off processes for one month to support businesses affected by Covid-19, it has been announced. The extended measure comes in response to delays to the system caused ...
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EU exports halt as UK firms encounter extra charges
Jan 25, 2021
Due to the new trade rules that came into effect on 1 January 2021, many UK businesses, who export to the EU, have been hit by extra charges, taxes and paperwork. Some have stopped exports to the EU as a ...
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HMRC warns of tax scams ahead of Self Assessment deadline
Jan 07, 2021
HM Revenue & Customs (HMRC) has warned businesses to watch out for tax scams ahead of the 31 January Self Assessment Deadline. It comes after the tax office responded to thousands of reports of bogus emails, text messages and phone calls ...
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SMEs are still chasing unpaid invoices
Sep 28, 2020
The disruption of business, due to the coronavirus pandemic, has meant many companies are still waiting on unpaid invoices from their debtors. According to a Freedom of Information request to the Small Business Commissioner (SBC), submitted by the UK Domain, there ...
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Retail, hospitality and leisure firms set for £10 billion business rates savings
Apr 24, 2020
Businesses in the retail, hospitality and leisure sector are expected to save around £10 billion this tax year through business rates relief, official figures have revealed. The new statistics come after the Government launched its comprehensive business rates relief package for ...
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