Make the most of your business

Posted 15th February 2019 at 2:36 pm

Running a business is complicated and stressful and probably takes up the majority of your time just to keep it going day to day. So it’s no surprise that thousands of SME’s are not making the most of some of the tax reliefs available to them, when it’s hard to find the time to even think about it. This is where we can help. We have put together a handy guide for all you busy bees on how you can take advantage of tax reliefs to better benefit you and your business.   Get Organised Start the year afresh with... Read more

How Is Wellbeing Affecting Workplace Performance?

Posted 8th February 2019 at 3:54 pm

According to recent research, around half of UK employees have changed their jobs because of work related frustration and stress. This has also led to an increase in workers calling in sick due to the implications of their job role and work environment. Not only are these factors affecting employee wellbeing, but they could be having a damaging effect on your business. Respondents of the research stated that the main source of their workplace stress was having to chase colleagues for updates and a lack of clarity by management when ask to complete a task. These issues can be easily... Read more

Annual Investment Allowance Temporary Increase

Posted 1st February 2019 at 2:59 pm

As announced in the Budget 2018, legislation has been introduced in the Finance Bill 2018/19 to temporarily increase the Annual Investment Allowance from £200,000 to £1million. The changes will be in effect from 1st January 2019, until 1st January 2021 when it will revert back to £200,000. The AIA, in effect, enables businesses to be able to claim immediate relief for expenditures, as it enables the business to deduct 100% of qualifying capital expenditure up to the AIA limit for the chargeable period when calculating profits. There are some excluded expenditures such as expenditure on cars. Although a claim is... Read more

Exemptions Announced for MTD for VAT

Posted 25th January 2019 at 3:17 pm

MTD for VAT will come into effect from 1 April 2019. From this date businesses above the VAT threshold will be required by law to file their VAT every quarter via a digital system connected directly to HMRC or via a third party digital link. Once a business is registered, they will be required to remain registered even if they fall below the threshold at a later date. A company would have to deregister in order to no longer be required to file. After many months of trialling a pilot of the scheme and a call to the government to... Read more

Automatic Enrolment Rates Rise for Employers

Posted 18th January 2019 at 3:11 pm

Since it’s conception in 2012, automatic enrolment has helped millions of people contribute towards their pension. Employees are aided in this by having their employers also make contributions towards their retirement fund, but the rates employers and employees will need to contribute will shortly rise. Make sure that your business is prepared by checking the rates below.   Under automatic enrolment, minimum contributions are required to increase over time on set dates by law. On 6 April the minimum contribution levels will rise again, with a minimum of 3% being paid by employers towards the pension. Employees will make up... Read more

Deal or No Deal: How can traders prepare for Brexit?

Posted 11th January 2019 at 3:07 pm

  Now that the new year has started, there is even more focus on the approach of Brexit, when the UK will leave the EU on the 29 March. It is now a conceivable reality that the UK will leave the EU with a no deal. If this happens, your business may need to prepare for some potential changes, so that the transition can run as smooth as possible.   How can you prepare? HMRC have recently published advice for VAT registered EU-only traders in the UK except Northern Ireland. It advises that the following steps should be taken by... Read more

New Year, New You: SME Trends for 2019

Posted 4th January 2019 at 3:06 pm

The start of a new year brings with it a whole host of new trends for SME’s to expect. This week we discuss the upcoming SME trends to look out for so you can stay ahead no matter what your industry is.   Employee Wellness Mental health and employee wellbeing is becoming more and more acknowledged within the workplace and the effect it can have on businesses can be detrimental.  Last year it was found that 71% of small to medium sized businesses had their profitability affected by low-morale, stress and mental illness. It is within your businesses interests to... Read more

Is the ‘Good Work Plan’ Good Enough?

Posted 21st December 2018 at 3:22 pm

This week a report has been published by the government, which outlines many workplace reforms, as advised by a review of modern working practices called the Taylor Review. The Taylor review recommended 53 new workplace reforms with the aim of improving flexible working and those who work within the gig economy in the UK. Of the 53 recommendations made the New Workplace Reforms will address 51 points, meaning many changes are on the way from April 2020. One of the more controversial areas discussed in the report is that of zero-hours contracts. The government has ruled out scrapping zero-hours contracts... Read more

Changes Employers Need to Know for 2019

Posted 14th December 2018 at 4:17 pm

  There are many changes on the way for employers in 2019 and beyond, some of which will come at an extra cost to businesses. Below we take a look at what to expect, so you can be prepared.   Automatic Enrolment Since being introduced in 2012, employers must ensure to enrol employees into a pension savings scheme. The enrolment means that workers and their employers are obligated to pay into a pension scheme, unless the employee chooses to opt out. In April 2019 the amount paid into a scheme will rise to 5% by employees and 3% by employers.... Read more

Top Tips for SME’s to End Late Payments

Posted 7th December 2018 at 12:25 pm

On average SME’s in the UK are paid 21 days late. This can affect a business’s cashflow, finance management and even mental health. Recent research has revealed that nine in 10 self-employed people, at least occasionally, worry about their financial situation. A third of these people said that these worries have caused them to lose confidence and to lose sleep. A parliamentary committee has this week called for a clamp down on poor payment culture affecting SME’s and freelancers. The recommendations in the report call for a requirement for all medium and large businesses to sign the ‘Prompt Payment Code’... Read more