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Business News

From time to time, we produce information for clients on a number of topical and important issues, some of which can be found below:

Inaugural Autumn Budget date announced - October 17, 2017
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The Chancellor, Philip Hammond, has announced that the first Autumn Budget to take place since the set-piece statement’s move to the end of the year will be on Wednesday 22 November 2017. Mr Hammond announced at the Autumn Statement in 2016 that there would no longer be two major fiscal statements each year. This means … Continue reading Inaugural Autumn Budget date announced


The Finance Bill is back and little has changed - October 17, 2017
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Earlier this year the Government announced that a number of the controversial provisions within its Finance Bill would be dropped ahead of June’s snap general election to ensure an easy passage to Royal Assent. Making Tax Digital and a number of other flagship proposals were subsequently left by the wayside, creating a great deal of … Continue reading The Finance Bill is back and little has changed


Admin takes up 120 days every year for UK small businesses - October 17, 2017
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Research published in September has found that 5.6 per cent of working time at small businesses in the UK is spent on back-office and admin tasks. This time could be worth as much as £33 billion a year. According to the report, “Sweating the Small Stuff: the impact of the bureaucracy burden”, accounting tasks were … Continue reading Admin takes up 120 days every year for UK small businesses


All change for the UK’s cash - October 17, 2017
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It’s all change when it comes to cash. Last month saw the introduction of a new £10 note and this month sees our last chance to spend the old round £1 coin. Following on from the new Churchill £5 note, the new £10 note is made from the same polymer material, with sophisticated built-in security … Continue reading All change for the UK’s cash


Late payments damage the UK economy, research shows - October 17, 2017
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Late payments are a headache that most small businesses are familiar with, but new research shows that late payments create problems for the economy as a whole. Figures published by the Department for Business, Innovation and Skills show that UK SMEs are losing £250 billion in cash flow as a consequence. Because SMEs tend to … Continue reading Late payments damage the UK economy, research shows


Government begins to play its hand at the Brexit negotiation table - September 25, 2017
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The Government has begun to publish a number of position papers which aim to set out how it intends to negotiate with the EU during the Brexit process. The proposals, released at the end of August, set out how the trade in goods and services between the European market and the UK should continue once … Continue reading Government begins to play its hand at the Brexit negotiation table


Taylor report recommends review of cash-in-hand - August 9, 2017
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Cash-in-hand payments should be replaced with technology driven alternatives in the hopes of collecting up to £6 billion more in tax – this is the conclusion of a Government-commissioned review conducted by Matthew Taylor, head of the think-tank the Royal Society of Arts. The 116-page report, entitled Taylor Review of Modern Work Practices, was commissioned to … Continue reading Taylor report recommends review of cash-in-hand


Two fifths of SMEs say investment plans have been negatively affected by Brexit - August 9, 2017
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A new survey from the Confederation of British Industry (CBI) has revealed that more than 40 per cent of UK businesses believe that Brexit has hurt their investment plans. The Confederation’s latest Investment Survey clearly asked 357 companies in the UK how the UK’s decision to leave the EU had affected their plans, with nearly … Continue reading Two fifths of SMEs say investment plans have been negatively affected by Brexit


Credit and debit card charges to be banned as cashless economy grows - August 9, 2017
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From January next year businesses across the UK need to ensure that consumers are no longer being charged extra for paying by debit or credit card, according to new legislation from the Government. It is thought that in 2010 alone customers spent £473 million on charges from card payments, which is why the Treasury has … Continue reading Credit and debit card charges to be banned as cashless economy grows


HMRC given an extra £5.3 million to enforce minimum wage compliance - August 9, 2017
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According to the Government’s latest Labour Market Enforcement Strategy report HM Revenue & Customs (HMRC) is to receive an additional £5.3 million of funding in 2017/18 to ensure businesses are paying employees the national minimum wage (NMW) and national living wage (NLW). This follows on from a previous increase of £20 million in 2016, which … Continue reading HMRC given an extra £5.3 million to enforce minimum wage compliance


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