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May 3, 2024
Increasing your profit – why it’s not the same as growing sales
The so-called Micawber principle, as stated by Wilkins Micawber in Charles Dickens’ novel David Copperfield, says: “Annual income twenty pounds, annual expenditure nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds nought and six, result misery.”
May 2, 2024
Hybrid working – what counts as a business journey for tax purposes?
HM Revenue and Customs (HMRC) have updated their guidance on what qualifies as ordinary commuting and private travel for tax purposes to include hybrid or flexible working.
April 29, 2024
Avoiding Business Pitfalls: 7 things you should NOT do as a business owner
Recent surveys of UK business owners show us to be under pressure. This is no surprise. As a business owner, you’re constantly juggling multiple responsibilities and facing a myriad of challenges. While there are countless strategies for success, it’s equally important to be aware of potential pitfalls that could derail your efforts.
April 26, 2024
Don’t get caught out by tax avoidance
HM Revenue and Customs (HMRC) are running a campaign to help people avoid being caught out by tax avoidance schemes. This is particularly relevant to those who are contractors, agency workers, or are working through an umbrella company.
April 24, 2024
Inflation falls in March
According to the latest figures released by the Office for National Statistics, the Consumer Prices Index (CPI) rose by 3.2% in the 12 months to March 2024. This is down from 3.4% in February.
April 22, 2024
Procurement – can the principles work for smaller businesses?
The government recently published a press release congratulating its procurement department on its 10th anniversary for saving taxpayers £3.8 billion last year.
April 19, 2024
Have you checked your tax code?
Prior to the tax year starting each 6 April, HM Revenue and Customs (HMRC), will issue new tax codes to employees, usually where there is a change of tax code.
April 17, 2024
Is your business Disability Confident?
New Disability Confident guidance has been published to help managers recruit, retain, and foster the progression of disabled people and those with health conditions in the workplace.
April 15, 2024
Unleash the power of generative AI: A potential game-changer for your business
As accountants, we understand the importance of leveraging technology to drive efficiency and innovation in business operations. In this article we will introduce you to the concept of generative artificial intelligence (AI) and the transformative power it could have for your business.
April 12, 2024
What is the future for the National Minimum Wage?
The Low Pay Commission (LPC) has published a report on the future of the National Minimum Wage beyond 2024.
April 10, 2024
April is Stress Awareness Month
The Health and Safety Executive (HSE), via their Working Minds campaign, has declared April Stress Awareness Month.
April 8, 2024
Thinking of buying another business? What due diligence should you consider?
When in business, it’s not uncommon to be approached by another business with a view to you buying the business or entering a partnership deal. It might be a competitor that approaches you, or it could be a customer or supplier.
April 5, 2024
Payroll reminder – National Insurance rate reducing from 6 April
From 6 April 2024, the 2% cut in employee national insurance contributions will come into effect. Employees will now be deducted 8%, rather than 10%, on monthly earnings between £1,048 and £4,189. A 2% deduction on earnings above this amount continues to apply.
April 4, 2024
Could the VAT Annual Accounting Scheme be good for your business?
VAT-registered businesses normally submit their VAT returns and payments to HM Revenue and Customs 4 times a year. However, HM Revenue and Customs also offer an Annual Accounting Scheme for businesses with a taxable turnover of £1.35 million or less.
March 28, 2024
Major reforms to apprenticeships announced
The Prime Minister, Rishi Sunak, has announced reforms to apprenticeships that will enable up to 20,000 more apprenticeships and could be especially welcome news to small businesses.