News
Tax rates rise twice as fast in the UK than the international average
04 January 2019
According to the Organisation for Economic Co-operation and Development (OECD), UK tax revenue as a percentage of GDP rose to 33.3 per cent in 2017. This was up from 32.7 per cent in the previous year and was more than double the average rate of increase for nations...
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An end to the Entrepreneurs’ Relief ‘dilutions dilemma’?
04 January 2019
As a business takes off, the level of investment it needs in order to expand can significantly outpace growth in revenues and profits. One of the options open to entrepreneurs at this stage in the development of a business is to issue new shares that secure new investment, without the financial pressures...
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Brexit uncertainty sends small business confidence to a seven-year low
04 January 2019
Confidence amongst small businesses has tumbled to a seven-year low – in part due to the uncertainty of Brexit. A survey carried out by the Federation of Small Businesses (FSB) has found that nearly one in three small exporters think that sales to overseas customers will fall during the early part of this year.
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Debt recovery costs small businesses an average of £9,000
04 January 2019
The cash flow difficulties that late payments cause small businesses are well known. However, the cost of recovering late payments is less well publicised, despite being a major and growing expense – coming in at around £9,000 last year for an average business.
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Smaller estates should not have to file Inheritance Tax paperwork, says Office for Tax Simplificatio
12 December 2018
The Office for Tax Simplification (OTS) has said that smaller and less complex estates should not be subject to the requirement to file Inheritance Tax (IHT) paperwork. The call was part of a review into IHT, which Chancellor Philip Hammond ordered earlier this year.
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Big increase in P2P lending
12 December 2018
The fifth annual UK Alternative Finance Industry Report has revealed a 65 per cent year-on-year increase in peer-to-peer (P2P) lending. The P2P lending market is now worth £2 billion and small and medium-sized enterprises (SMEs) appear to be the dominant force behind it.
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180,500 first-time buyers benefit from relief on Stamp Duty Land Tax (SDLT)
12 December 2018
Figures released by HM Revenue & Customs (HMRC) have revealed that 180,500 first-time buyers have benefited from the Government’s changes to Stamp Duty Land Tax (SDLT). HMRC estimates that first-time buyers have saved a total of more than £426 million since Chancellor Philip Hammond announced...
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Italian e-invoicing requirements make Making Tax Digital look like a walk in the park
12 December 2018
While a series of false starts and changes of direction have made Making Tax Digital (MTD) seem more complicated than it might need to be, new e-invoicing requirements that come into effect in Italy from 1 January 2019 make it look like a walk in the park.
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House of Lords calls for a delay to Making Tax Digital
12 December 2018
The House of Lords Economic Affairs Committee has criticised HM Revenue & Customs (HMRC) for its handling of Making Tax Digital (MTD) and called for a delay to some of the regime’s mandatory requirements.
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UK takes second spot for tax compliance in G20
12 December 2018
New research from the World Bank has revealed that the UK has the second most effective tax system amongst the G20 nations for tax compliance and ease of paying corporate taxes.
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Case Studies
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A shared passion for architecture and a head for numbers
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A taste for growth, a thirst for knowledge
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Taxing demands with old school charm
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Cut above the rest in personal management style
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Sometimes a business does exactly as it says on the tin
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Child's play with proactive accounts management
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Customer care is top of the list for packaging business
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Smiles all round for dental practice
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A modern approach required for music moguls