Entrepreneurs’ relief cut to £1 million in Budget
The Chancellor, Rishi Sunak, announced in yesterday’s Budget that entrepreneurs’ relief (ER) will be cut from £10 million to £1 million, effective immediately.Continue reading
SMEs urged to go digital: £15.3 billion could be added to the UK economy
A recent study suggests that the UK economy could benefit by up to £15.3 billion if SMEs introduce the use of digital technology, tools and connectivity within their organisation.Continue reading
Contractors under umbrella arrangements could be unknowingly involved in tax avoidance, warns HMRC
Contractors and agency workers being paid through an umbrella arrangement which claims to increase take-home pay could be involved in tax avoidance, HM Revenue & Customs (HMRC) has warned.Continue reading
Almost a fifth of businesses fell into their overdraft in past year
According to the latest industry research, almost one in five small businesses fell into their overdrafts in the last year in a bid to manage their cash flow.Continue reading
The VAT treatment of PCP agreements for commercial vehicles
When considering the purchase a commercial vehicle, there are many decisions to make, including whether an HP agreement or a personal contract purchase (PCP) agreement is more suitable, but what are the VAT implications of a PCP agreement?Continue reading
Everything you need to know about the construction industry scheme VAT reverse charge
HM Revenue & Customs (HMRC) announced a 12-month deferral on the domestic reverse charge last year, which will now apply to construction services from 1 October 2020.Continue reading
Chancellor offers reassurance regarding ‘soft landing’ for IR35
The new Chancellor, Rishi Sunak has offered reassurance to contractors that HM Revenue & Customs (HMRC) will ensure a soft landing is in place for the first year following the implementation of the IR35 rules.Continue reading
No small issue – The importance of accounting in microbusinesses
Small and medium-sized enterprises (SMEs) account for the majority of the business population in the UK, producing trillions of pounds in revenue every year. However, a large amount of their time is spent working on financial admin.Continue reading
Points-based immigration system works for small businesses providing “costs are kept down”, says FSB
The Government’s new immigration system “works for small businesses”, but only if costs can be kept to a minimum, an industry body has said.Continue reading
HMRC reminds employers to review benefits in kind to stay compliant
HM Revenue & Customs (HMRC) has reminded employers that the rules surrounding benefits in kind agreed before 06 April 2017 are changing.Continue reading
Can we help? Talk to our expert team