The Government’s drive to improve transparency of UK company ownership by putting a ban on corporate directors (subject to certain exceptions), has once again been put on hold. The provision introduced by the Small Business, Enterprise and Employment Act 2015, was originally due to come into force in October 2015, then October 2016, but has … Continue reading Further delay on Corporate Director ban
In 2015 the Government announced its commitment to bringing our tax system into the 21st century by introducing digital technology and dispensing with the annual tax return. The new system would involve digital quarterly reporting with a view to making tax simpler and easier to manage for the taxpayer. The Financial Secretary to the Treasury, … Continue reading Digital Tax Reporting – The Story So Far
If you own your own business or are considering such a move, keeping accurate records not only benefits you for tax compliance, but it could also benefit your business. Keeping accurate records may: Reduce your accountancy fees make filling in your tax return more straightforward help you with budgeting and cashflow help your business grow … Continue reading Bookkeeping Tips for Small Businesses
For any small business, the need to hire an employee is a good sign that your business is moving in the right direction. However, there are various factors to consider in order to avoid unanticipated problems, and many business owners struggle to understand the real cost of bringing an employee on board. Here are the … Continue reading Ready For Your First Employee?
Ed Gooderham, partner at Green & Co, tweeted along live with George Osborne's Budget announcements. Catch up with his thoughts here... #Budget2016 Osborne just started speaking, let's see how he will tax us and what new ideas we will come up with! — Ed Gooderham (@Green_and_Co) March 16, 2016 #Budget2016 - Growth of 2% per … Continue reading Ed Gooderham’s thoughts on the Budget
The Administrative Burdens Advisory Board (ABAB) wants to hear from owners of small businesses around the UK. Set up in 2006, ABAB has already helped HMRC to deliver over half a billion pounds in administrative burden savings for businesses, and helped deliver new initiatives like the Simpler Income Tax measures for small business introduced in … Continue reading You Can Help Influence Change With HMRC
http://www.youtube.com/watch?v=NUwV2I5HtC8 To find out what other announcements were made in the Chancellor's Budget, read our Budget Summary.
Audit exemption thresholds have been relaxed reducing the burden on many small businesses. An audit is an independent and unbiased assessment of the financial statements. Currently, companies have to be audited if they have a turnover of more than £6.5 million or a balance sheet total of more than £3.26 million. The main purpose of … Continue reading Changes in the Audit Exemption Limits to Reduce the Burden on Small Companies.
How Small Businesses Can Benefit From Using Software As a Service Cloud computing can take a number of forms depending on the nature of the service that is being provided to users through the Internet. Software as a service is one of the most popular forms of cloud computing, being setups where users access the … Continue reading Benefits of Cloud Business Software for Small Business’
Small businesses must take every step possible to reduce risk. A mistake, a forgotten step, or even a defective product can have serious financial consequences to a business and its future. The cost of litigation is incredible, even in small instances. What can a business owner do to protect his or her passion and employment? … Continue reading Insurance Risks for Small Businesses