Businesses are preparing for the General Data Protection Regulation, which comes into force from 25 May 2018. All businesses holding personal data will need to ensure their procedures are fit for purpose and compliant when the new rules take effect next year. Those businesses found non-compliant may face fines of up to €20 million – … Continued
47% of small businesses lost out on up to £10,000 in the last year due to turning down work contracts and orders, according to a study. Out of 501 companies surveyed by Hitachi Capital Invoice Finance, 26% rejected contracts worth up to £5,000 while 21% snubbed deals worth between £5,001 and £10,000. Almost one in … Continued
From April 2016, the vast majority of UK limited companies have been required to create and maintain a register of people with significant control. Commonly known as the PSC register, this includes details of who ultimately controls or exercises significant influence upon the company. From 30 June 2016, every company has also needed to submit … Continued
More than half of businesses are planning to offset rising prices, according to a study by ICAEW. 53% of firms have seen input prices increase over the past year but less than half are willing to absorb the costs. Businesses cited the following reasons for rising prices: rise in raw materials (35%) cost of services … Continued
On 15 December 2015, the European Parliament, Council and Commission reached agreement on new data protection rules, establishing a modern and harmonised data protection framework across the EU. The Regulation was adopted by the European Parliament on 14 April 2016 with the new rules becoming applicable after two years to all members of the EU. … Continued
A lack of digital skills is affecting business productivity and growth, according to the British Chambers of Commerce (BCC). More than 4 in 5 (84%) firms say digital and IT skills are more important than 2 years ago, however 76% say they are facing a digital skill shortage. Adverse effects of skills shortages include: increased … Continued
The business rates revaluation took effect on 1 April 2017. This means that businesses in England and Wales will pay rates that reflect the changes in their local property market. The government has said that nearly 75% of businesses will see no change or a fall in their bills. Small business rate relief has permanently … Continued
A fifth of SMEs have missed out on at least 1 business opportunity in the past 12 months due to a lack of finance. Research by Aldemore found that firms are missing out on an average of £77,651 a year due to missed opportunities. Bigger businesses were more likely to have missed out on opportunities: … Continued
Late payment regulations support SMEs Large companies and limited liability partnerships (LLPs) will have to publish their payment practices and performance twice a year from April 2017. This new reporting requirement will include the average time taken to pay supplier invoices. The government hopes this will help to reduce late payments. It is estimated that … Continued
CCAB has published a revised statement of recommended practice (SORP) for limited liability partnerships (LLPs). The LLPs SORP has been updated to reflect the new LLP Regulations that were issued in May 2016 and recent changes to UK accounting standards. The LLP regulations were amended in May 2016 by The Limited Liability Partnerships, Partnerships and … Continued
The Easter Bunny has come early!🐣Chocolate inspired pay day treat for all our lovely staff 🍫 🐇
2
🎄Merry Christmas🎄
The BWM office will be closed over the Christmas period from close of business on Friday 23 December 2022 at 12pm until 9am on Tuesday 3 January 2023.
Tempest Suite 5.1, 12 Tithebarn Street,
Liverpool, L2 2DT
Phone: 0151 236 1494
Sign up for news of BWM seminars and events
