SMEs in the UK have struggled with late payments for years and cash tied up in unpaid invoices can put pressure on your business’s ability to operate effectively. Invoice financing can release funds locked up in late payments, giving a…
HMRC enquiry letters are sent to individuals to notify them that HMRC has chosen to formally investigate their tax affairs. While some enquiries are carried out randomly, the majority are selected based on a risk assessment of a business. These checks should not be…
Companies House has issued warnings to directors after a rise in scam emails following the organisation’s new identity verification processes. The scams are designed to create urgency and encourage directors to hand over personal information or click malicious links. While…
Seasonal workers are the backbone of many British businesses during the busy summer months. However, employers must understand the unique payroll responsibilities for these workers to ensure that they are being paid correctly. Setting up seasonal workers It can be…
If you or any of your employees have children aged 16 to 19, it is worth noting an important HMRC deadline that could affect household finances. What is changing? Child Benefit automatically stops on 31 August after a child turns…
Making Tax Digital (MTD) for Income Tax became mandatory this year for sole traders and landlords with qualifying income over £50,000 and the first quarterly update deadline hits in August. Meeting the deadline The first quarterly update period runs from…
A new consultation paper from the Government has set out how Income Tax Self Assessment (ITSA) payments could move to a more regular, in-year footing. The new proposals, which formed part of the latest Tax Update, follow on from recommendations…
Geopolitical tensions are set to push UK petrol prices to the highest level of the year, with the average cost reaching 160p per litre, according to RAC monitoring.
It has been estimated by the Small Business Commissioner that late payments are causing 14,000 businesses to close each year. That is equivalent to 38 businesses a day!
Despite the first deadline for Making Tax Digital (MTD) for Income Tax arriving on 7 August, over 400,000 qualifying landlords and sole traders have still not signed up.
Recent headlines have made it no secret that owning a pub, club or music venue is hard. With rising costs, it has been estimated that one in eight pubs is in severe financial distress.
Late-paying customers are one of the biggest causes of cash flow problems for SMEs.
Nobody wants to pay more tax than they need to. For SMEs, paying the right amount of tax has become more important than ever.
While profit can be seen as the main indicator of business health, the importance of cash flow is often overlooked.
15 July marks World Youth Skills Day, which is a day to celebrate the importance of equipping young people with the skills they need for employment and entrepreneurship.