We regularly write articles to keep you up to date with changes that affect your growing business.
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A company has lost an £11 million dispute with the taxman over whether contract construction workers were entitled to claim travel costs tax-free. As many as 600,000 temporary workers in the UK are thought to be employed by umbrella companies, used by recruitment agencies and companies to cut temporary payroll costs. Exchequer Solutions Limited (ESL) is
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Companies have been told by the Government’s Insolvency Service to consider the impact of rising prices and its effect on household incomes - meaning debts could be written off or repayments halved. As part of this call, the Insolvency Service has issued new guidance on individual voluntary arrangements (IVAs). What are IVAs, and how do
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It has been announced by India’s commerce minister, Piyush Goyal, that India’s long-anticipated trade agreement with the UK is set to reach completion by October. In the agreement, Goyal has said that 11 of the proposed deal's 26 chapters are now “dusted and ready” and will aim to be finished in the coming months. Gaurav
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As the UK tourism sector recovers from the pandemic, a Government minister has been told more must be done to encourage international visitors. The Digital, Culture, Media and Sport (DCMS) Select Committee meeting, which took place on 5 July, highlighted the UK’s decrease in visitor numbers compared with other countries. Additionally, tourism minister, Nigel Huddleston was
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A new survey has shown the UK public’s attitude towards business has improved, but work still needs to be done. According to the Institute for Business Ethics (IBE) annual survey tax avoidance and bribery and corruption remain among the most important ethical issues. The survey, supported by the Fair Tax Foundation, found corporate tax avoidance
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The eligibility criteria for the Government’s work from home tax relief was relaxed during the pandemic, as restrictions prevented many people from physically going to work. Thanks to this, if you were required to work from home for a limited period, you may have been able to claim the tax relief in full for the
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With inflation rising and fewer people in the high street, big department stores are taking the lead with creative solutions to the problem. Many of these big department stores and other outlets, still struggling with the after-effects of the pandemic and the switch to online shopping, are coming up with novel ideas to fill what
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Being a business owner comes with a wide range of challenges but getting your finances in order is fundamental to ensuring your business’ survival. Unfortunately, funding is not just an issue that is exclusively encountered when starting up a business. With many business owners aspiring to build their empires, sourcing funding to sustain growth can
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A new survey has found that more and more SMEs are turning to open banking to make their businesses more efficient, a move that offers accountants opportunities to deliver added value to clients. Open Banking was launched in the UK in 2017, following the Competition and Markets Authority (CMA) investigation which ordered the nine largest
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The leisure and hospitality industry’s recovery post-pandemic is still being blighted by a shortage of staff. According to figures from the Office for National Statistics (ONS) this month, the sector has 83 per cent more vacancies than in the same period of 2019. The recovery has been further compromised by the ongoing rail strike. A
Latest News
Changes to charges and penalties applied to late submission of VAT returns will kick in from January next year. For the VAT period starting on or after 1 January 2023, new penalties will replace the default surcharge for returns submitted or paid late. Any VAT returns received late will also be subject to late submission
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With business costs rising as inflation soars, we want to remind companies about the tax incentives that can save businesses thousands of pounds. For example, the Business Asset Disposal Relief (BADR), formerly known as Entrepreneurs Relief, is a type of tax relief which reduces the amount of Capital Gains Tax (CGT). BADR is only available
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