Category: Business

Comments Off on Claims For R&D Tax Credits Hit Record High

Claims For R&D Tax Credits Hit Record High

Claims For R&D Tax Credits Hit Record High

Research and development (R&D) tax credit claims by small businesses climbed to £1.345 billion in 2015/16, according to HMRC. The revenue recently released R&D data for the previous financial year that shows claims increased from £1 billion in 2014/15 to hit another record high last year. The total number of claims for R&D credits in … Continued

Comments Off on Autumn Budget 2017 Round-Up

Autumn Budget 2017 Round-Up

Autumn Budget 2017 Round-Up

A range of measures designed to boost business and productivity were announced in Autumn Budget 2017. Amid a background of discontent surrounding business rates, chancellor Philip Hammond revealed future increases will be determined by the Consumer Prices Index measure of inflation from April 2018. The measure comes into effect two years earlier than originally planned … Continued

Comments Off on Company car advisory fuel rates from 1 December 2017

Company car advisory fuel rates from 1 December 2017

Company car advisory fuel rates from 1 December 2017

HMRC has published revised advisory fuel rates for company cars, applying from 1 September 2017. The rates are to be used only where employers either reimburse employees for business travel in their company cars, or require employees to repay the cost of fuel used for private travel. These rates apply from 1 December 2017. You … Continued

Comments Off on New GDPR Advice Service Aimed At Small Organisations

New GDPR Advice Service Aimed At Small Organisations

New GDPR Advice Service Aimed At Small Organisations

The Information Commissioner’s Office (ICO) launched on Wednesday 1 November at 10am to help small organisations prepare for a new data protection law.The phone service is aimed at people running small businesses or charities and recognises the particular problems they face getting ready for the new law, called the General Data Protection Regulation (GDPR). The GDPR replaces … Continued

Comments Off on UK Interest Rates Rise for the First Time in 10 years – Despite Warnings

UK Interest Rates Rise for the First Time in 10 years – Despite Warnings

UK Interest Rates Rise for the First Time in 10 years – Despite Warnings

Liverpool accountancy firm boss Peter Taaffe says the Bank of England’s quarter point rise to 0.5% will impact on both small businesses and homeowners. Tony McDonough reports Bank of England policymakers have raised the UK interest rate for the first time in a decade – pushing up the rate from 0.25% to 0.5%. The bank’s … Continued

Comments Off on Late Payments Continue To Hit SMEs

Late Payments Continue To Hit SMEs

Late Payments Continue To Hit SMEs

Two-thirds (66%) of small businesses are feeling the effects of clients who fail to pay their bills on time, research shows. Banking group Close Brothers polled 900 small business owners and found the problem was particularly serious for 87% of SMEs in Northern Ireland, 73% in London and 72% in the South West. Late payments … Continued

Comments Off on Cautious Businesses Delaying Investment

Cautious Businesses Delaying Investment

Cautious Businesses Delaying Investment

Businesses are in no rush to make investments amid the ongoing uncertainty of Brexit, according to the Institute of Chartered Accountants in England and Wales (ICAEW). More than one in four businesses are delaying investment decisions as the government continues negotiations with the EU. As a result of their collective cautiousness, 61% of those firms … Continued

Comments Off on Sole Traders Exposed to Cash Crises

Sole Traders Exposed to Cash Crises

Sole Traders Exposed to Cash Crises

Nearly half (41%) of self-employed people struggle to save any money each month, leaving them exposed to financial problems. Insurer LV= surveyed 9,495 self-employed workers and found one in three could not survive for more than three months if they lost their income. Nearly two thirds (62%) of respondents said monthly bills eat up the … Continued

Comments Off on Businesses urged to prepare for Data Protection Bill

Businesses urged to prepare for Data Protection Bill

Businesses urged to prepare for Data Protection Bill

Individuals will be able to legally ask businesses to delete certain personal data under new proposals outlined in the Data Protection Bill. The Bill forms part of the EU’s General Data Protection Regulation (GDPR), which is due to come into effect on 25 May 2018. The legislation will allow individuals greater control over their personal … Continued

Comments Off on Company car advisory fuel rates from 1 September 2017

Company car advisory fuel rates from 1 September 2017

Company car advisory fuel rates from 1 September 2017

HMRC has published revised advisory fuel rates for company cars, applying from 1 September 2017. The rates are to be used only where employers either reimburse employees for business travel in their company cars, or require employees to repay the cost of fuel used for private travel. These rates apply from 1 September 2017. You … Continued