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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:

Research indicates low awareness of alternative funding among businesses - August 15, 2016
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A new survey by the British Chambers of Commerce (BCC) has revealed a staggering lack of knowledge about alternative finance options amongst businesses. The BCC survey of 1,000 businesses has shown that, while 93 per cent of firms were familiar with traditional bank overdrafts, only 19 per cent were aware of newer mezzanine finance options. … Continue reading Research indicates low awareness of alternative funding among businesses


Accountants key to business success, say academics - August 15, 2016
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Academics from the Bucharest University of Economic Studies and the International Federation of Accountants have found a strong link between a firm having a good relationship with its accountants and its overall performance after examining more than 90 studies. Amongst the studies they examined was Australian research into the relationships between SMEs and their accountants … Continue reading Accountants key to business success, say academics


Total pension savings up on back of Auto-Enrolment - August 15, 2016
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Figures published recently by the Prudential have shown a significant increase in the total amount put away by UK workers towards their pension pots. UK workers’ pension contributions last year amounted to more than £9.3 billion – a 17 per cent increase on the 2010/11 tax year and the second highest figure in the last … Continue reading Total pension savings up on back of Auto-Enrolment


Brexit: What is next? - July 13, 2016
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On 23 June 2016 the UK public spoke and decided to take the country out of the EU. As the UK begins the process of leaving the EU, many businesses will be wondering what is around the corner. The first thing is that the UK is unlikely to leave the EU within the next two … Continue reading Brexit: What is next?


Changes afoot at Companies House - July 13, 2016
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The Small Business, Enterprise and Employment Act 2015 provides for a range of measures which will affect the information you give to Companies House. A number of the more significant measures in the Act came into effect on 30 June. These include the introduction of confirmation statements, the requirement for information on people with significant … Continue reading Changes afoot at Companies House


SMEs warned to take care when choosing lenders - June 9, 2016
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The National Association of Commercial Finance Brokers (NACFB) is advising SMEs to read the fine print when seeking finance after its number of rejected lenders skyrocketed in the last two years. A growing number of so-called ‘bandwagon’ lenders and ‘flatpack’ finance providers have entered the commercial finance market and are posing a significant threat to … Continue reading SMEs warned to take care when choosing lenders


UK still struggling with productivity - May 13, 2016
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The latest figures from the Office for National Statistics (ONS) has shown that labour productivity – measured as output per hour – fell by 1.2 per cent in the final quarter of 2015. During the same quarter both worker and job output remained unchanged however, across all measures, productivity was half a per cent higher … Continue reading UK still struggling with productivity


UK’s small businesses ignoring minor expense claims - May 13, 2016
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A new report has found that UK freelancers, sole traders and micro-businesses could potentially be failing to claim millions of pounds worth of tax relief from unclaimed expenses they deem too small or time-consuming. Research conducted by FreeAgent, a cloud accounting software provider, has revealed that  around a quarter of a billion pounds worth of expenses … Continue reading UK’s small businesses ignoring minor expense claims


Changes to Employment Allowance - May 13, 2016
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Significant changes to Employment Allowance that were first announced by the Chancellor in his 2015 Budget came into effect at the start of the new financial year on 6 April. While the maximum reduction to employers’ Class 1 National Insurance Contributions has increased from £2,000 a year to £3,000 a year, directors who are the … Continue reading Changes to Employment Allowance


Personal Service Companies in the Public Sector - May 13, 2016
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The rules on using Personal Service Companies (PSCs) in the public sector are set to undergo a radical overhaul in 2017. The responsibility for deciding whether the intermediaries legislation applies will move from the person working through their own company to the public sector organisation. The Treasury has increasingly viewed PSCs as a tax avoidance … Continue reading Personal Service Companies in the Public Sector


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