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Latest News

We regularly write articles to keep you up to date with changes that affect your growing business.

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Blog

Staff shortages: increased wages to entice workers could mean higher prices for customers

Due to the ongoing staff shortages caused by the pandemic, UK restaurants have had to increase employee wages to entice chefs and waiters – which could mean higher prices for customers. According to recent data, four of the biggest UK restaurant chains have around 15 per cent of unfilled roles – equating to hundreds of

Digital platforms to report sellers’ income from as early as 2023
Blog

Digital platforms to report sellers’ income from as early as 2023

Digital marketplaces will be required to report the income of sellers from as early as 2023, it has been announced. The consultation document, found here, outlines how the Organisation for Economic Co-operation and Development (OECD) Model Reporting Rules for Digital Platforms will be adopted in the UK. According to the report, the new rules will require

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Blog

Help to Grow: Digital is now open

Is your business in the digital or Information Technology industry? The Government’s Help to Grow: Digital is now open for applications! This initiative is part of two complementary programmes (one digital-based, one management-based) designed to help you learn new skills, reach new customers and boost your profits. Help to Grow: Digital This programme offers businesses access to

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Blog

Labour shortages could impact UK’s economic recovery, says experts

A recent report on the latest business trends suggests that despite the surge of hiring among UK firms in July, the lack of working employees could still threaten the UK’s economic recovery. These staff shortages are a result of Brexit and pandemic-related factors, says the study. Although the easing of lockdown has encouraged many

Red furlough stamp on paper form
Blog

Employers to pay more for furloughed workers

Employers will need to contribute more to the cost of keeping their staff furloughed from 1 August. The Coronavirus Job Retention Scheme (CJRS), which has protected millions of jobs, is due to close at the end of September. Furloughed employees will still receive up to 80 per cent of their pay for unworked hours,

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Blog

Government launches £750 million Live Events Reinsurance Scheme in wake of coronavirus pandemic

A Government-backed insurance scheme will support the events and hospitality sector recover in the wake of the coronavirus pandemic, it has been revealed. The report comes after the announcement of the £750 million Live Events Reinsurance Scheme developed in collaboration with financial services provider Lloyds. Launching in September 2021, the uncapped cost indemnification scheme will

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Blog

Management accounts give snapshot of business performance

There are important financial statements in every business including the profit and loss (or income) statement, the cash flow statement, and the balance sheet. Together, these documents provide important numbers and a snapshot of your finances. To get the most out of these figures, many companies also produce management accounts – an in-depth analysis of the data.

Stack of coins inside a miniature life ring
Brexit

Businesses urge Government to reopen SME Brexit Support Fund as two-thirds of cash goes unclaimed

Business groups have called on the Government to reopen the SME Brexit Support Fund after it was revealed that just a third of the grants available had been awarded. The £20 million initiative was launched this summer in response to Brexit to help up to 10,000 traders get to grips with new customs processes. But

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COVID-19

The fifth round of the Self-Employment Income Support Scheme (SEISS) is now open

HM Revenue & Customs (HMRC) has announced that the portal for the fifth round of the Self-Employment Income Support Scheme (SEISS) is now open. In recent weeks, the tax authority has been directly contacting taxpayers that it believes are eligible for the fifth round of the scheme, providing them with their personal claim date. These

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News

A helping hand with the cost of children’s summer activities

Parents faced with the financial headache of childcare over the long school summer holidays are reminded they can get support from the Government. HM Revenue & Customs (HMRC) is reminding working families that they can use Tax-Free Childcare to help pay for their childcare costs over the summer. Tax-Free Childcare – a childcare top-up for

Budget Statements
News

Budget Statements

Click to read our guide on the 2021 Spring Budget with a focus on the economic outlook, personal and business tax, public spending and Covid-19 support measures

Director’s ban a warning to others to keep proper company records
News

Director’s ban a warning to others to keep proper company records

A payroll services boss has been banned for orchestrating a multi-million-pound tax avoidance scheme. The case puts a spotlight on company owners and should serve as a reminder that they are subject to strict conditions over keeping records. The High Court issued a disqualification order lasting 11 years to the sole director of Magnetic Push

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