SME borrowing set to rise in 2017 SME borrowing is projected to rise 22% in 2017, according to Zurich. The survey of 1,000 SME owners showed that firms are planning to borrow an average of £41,770. This would see lending to SMEs rise to over £50 billion in 2017. Anne Griffiths, head of SME proposition … Continued
Two changes to business rates are due to come into effect from 1 April 2017. Whether the changes will affect your business will depend on its location and size. Revaluation Revaluation adjusts the value of business rates to take into consideration changes in the property market. It usually takes place every 5 years although there … Continued
Small businesses that have been rejected for finance by banks may be matched with alternative finance providers under a government scheme. The service will see participating banks pass on details of businesses they have rejected to alternative finance platforms. According to figures from the Treasury, 71% of businesses looking for finance only request it from … Continued
The Government initiative ‘Making Tax Digital’ (MTD) intends that by 2020 the vast majority of businesses, self-employed people and landlords will be required to keep track of their tax affairs digitally and to update HMRC at least quarterly via their digital tax accounts. According to the Government’s current plans, from April 2018 all but the … Continued
Chancellor Philip Hammond is due to deliver his Autumn Statement on 23 November 2016. Speaking at the Conservative party conference in October, Hammond said the government will prioritise spending on housing and business investment to boost the economy. Here is a round-up of some of the potential measures that could be announced. Economic policy The … Continued
Most businesses don’t currently export and don’t intend to start, according to research by the Institute of Chartered Accountants in England and Wales (ICAEW). 69% of businesses have never traded overseas and have no plans to do so in the future despite high-profile government campaigns. Important findings: 66% haven’t heard of UK Trade and Investment … Continued
In August 2016, the Consultative Committee of Accountancy Bodies (CCAB) issued a Draft Statement of Recommended Practice – Accounting by Limited Liability Partnerships, which is open for comment until 1 November 2016. The proposals make amendments to the latest edition of the SORP which was last issued in July 2014. The Limited Liability Partnerships, Partnerships … Continued
Small business owners spend 10% of their working day chasing payments, according to research by Xero. London businesses spend the most time chasing payments, up to 1.5 days each month followed by 1.3 days in Wales. Customers who themselves are waiting for payments and a lack of consistency on payment terms are the main reasons … Continued
A system to allow businesses to check and appeal business rates bills has been announced. The aim is to ensure that disputes are settled more promptly. Currently, over 955,000 appeals have been submitted against rating valuations but less than 2% of business rates appeals proceed to a tribunal hearing. The new process is part of … Continued
The Insurance Act 2015 (‘the Act’) received Royal Assent on 12 February 2015 and comes into force on 12 August 2016 applying to all contracts of commercial insurance entered into or varied on or after this date. The Act makes changes to the following areas of commercial insurance law: the duty of disclosure and remedies available for material … Continued
The Easter Bunny has come early!🐣Chocolate inspired pay day treat for all our lovely staff 🍫 🐇
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🎄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.
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Phone: 0151 236 1494
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