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Professional 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:

Number of start-ups has fallen - April 18, 2017
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New analysis of BankSearch data by Lloyds Bank has shown that the number of new business start-ups in UK has fallen over the last five years. The bank’s research revealed that there were fewer new start-ups in November 2016 compared to the same period in 2011, with nearly 100,000 fewer new businesses in England in … Continue reading Number of start-ups has fallen


Tax reliefs going unclaimed by higher earners - April 18, 2017
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A survey of 4,000 people has found that around 76 per cent of high earners do not complete a self-assessment tax return, as they believe tax is automatically deducted from their earnings or pension through PAYE. For many this could mean that they are not claiming tax relief on pension contributions and charitable donations and … Continue reading Tax reliefs going unclaimed by higher earners


Small Business place trade deals as top priority from Brexit - April 18, 2017
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A new study by the Federation of Small Businesses (FSB) has found that continued access to markets in the EU is the top priority for the UK’s small business community. The FSB’s report showed that of the 1,758 members surveyed, 63 per cent regarded the EU market as an important trade destination. It also showed … Continue reading Small Business place trade deals as top priority from Brexit


Small businesses underestimate benefits of succession plans - April 18, 2017
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The UK’s network of small business play an important part in the British economy and represent the majority of businesses within the UK. However, new research from insurer, Legal & General has found a serious lack of awareness amongst SMEs about business protection. Their latest study has revealed that around 40 per cent of businesses would … Continue reading Small businesses underestimate benefits of succession plans


Government performs drastic U turn on Class 4 NICs - April 18, 2017
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In our Spring Budget 2017 summary we outlined the Chancellor’s significant change for the self-employed that would have seen Class 4 National Insurance Contributions (NICs) increase from nine per cent to 10 per cent in April 2018 and again to 11 per cent in 2019. However, after growing pressure from within his own party and … Continue reading Government performs drastic U turn on Class 4 NICs


Moore Thompson under starter’s orders for charity race night - April 18, 2017
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We are preparing to hold a charity horse racing night in aid of local charity Anna’s Hope and we hope some of you can join us. Organised by our firm’s own in-house charity the Moore Thompson Charity Fund CIO, the event will see guests enjoy a night at the races all from the comfort of … Continue reading Moore Thompson under starter’s orders for charity race night


HMRC finally provides more clarity for Making Tax Digital - March 13, 2017
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After months of delays and speculation, the Government’s long-awaited responses to six consultations about Making Tax Digital (MTD) were published at the end of January. Despite ongoing criticisms regarding the short timescale for the proposed MTD roll out, HM Revenue & Customs (HMRC) confirmed that the project will not be delayed. This means that mandatory … Continue reading HMRC finally provides more clarity for Making Tax Digital


Do you know a local business that would benefit from grant funding? - March 13, 2017
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East Midlands-based businesses could potentially be missing out by failing to apply for funding which has been made available to help their business grow and create jobs. Funding is available to support small and medium sized enterprises (SME’s), social enterprises, as well as sole traders and partnerships.  To qualify, applicants must demonstrate that projects will … Continue reading Do you know a local business that would benefit from grant funding?


New rules will help SMEs to switch accounts and save money - March 13, 2017
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Small businesses will soon be able to switch their accounts between banks more easily, as a result of changes to bank competition rules. The Bacs Payment Scheme – the organisation responsible for the majority of the UK’s automated payments – have agreed to put into operation a number of improvements to make the retail banking … Continue reading New rules will help SMEs to switch accounts and save money


HMRC accused of using SMEs as easy tax wins - March 13, 2017
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HM Revenue & Customs (HMRC) has been accused of going for easy wins, by targeting small and medium-sized businesses to plug the UK’s tax gap. The allegations come in the wake of a report which showed an additional £468 million was generated in tax revenue by SMEs in 2016. The figure obtained via a Freedom … Continue reading HMRC accused of using SMEs as easy tax wins


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