Category: Business

If the UK leaves the EU without a deal many UK businesses will need to apply the same processes to EU trade that apply when trading with the rest of the world. The VAT paid in other EU countries is often recoverable by VAT- registered businesses in the UK, who bought goods or services for … Continued

The Government has launched a new website service to help businesses prepare for the UK’s exit from the EU later this month. ‘Prepare your business for leaving the EU’ is an online tool that provides information on specific rules and regulations, and aims to inform business owners of what is changing in their sector. The … Continued

There is still uncertainty around what Brexit will mean and planning for a “No Deal” scenario seems sensible right now. The Government has published guidance: “UK government’s preparations for a no deal scenario” and it continues to provide updates on how to prepare for the event. See: https://www.gov.uk/government/publications/uk-governments-preparations-for-a-no-deal-scenario Businesses that buy and sell from the … Continued

New HMRC guidance on a no-deal Brexit has outlined steps British businesses need to take right now if they are importing or exporting goods. According to this HMRC guidance, there are three steps UK businesses need to take now: Register for a UK Economic Operator Registration and Identification (EORI) number.  Businesses will need an EORI … Continued

Small retail businesses in England will see a reduction to their business rates, as announced in Budget 2018. Business rates will be reduced by a third for many retail properties with a rateable value below £51,000 for two years from April 2019, subject to state aid limits. The Chancellor said this will mean “an annual … Continued

At a time of political and economic uncertainty, the announcement of several substantial measures in the Budget on 29 October 2018 came as a surprise for many businesses. In fact, the Budget was met with an overall positive reception from industry groups, with the FSB calling it the Chancellor’s “first small-business-friendly Budget”. A range of … Continued

The overwhelming majority of small businesses that applied for finance in the first six months of 2018 were successful, statistics show. UK Finance commissioned market research firm BDRC to carry out its SME Finance Monitor Q2 2018 and found 85% of small businesses in the UK secured finance in the first half of the year. … Continued

The NatWest Entrepreneur Accelerator gives businesses the power to start, scale and succeed via 12 hubs and other satellite locations across the UK. More than 5,000 have already passed through the fully-funded programmes and as of 2017 more than 80% were still trading. Liverpool is to become the first satellite location to host a bespoke … Continued

VAT creates the biggest administration burden for around two-thirds of businesses in the UK, research from the British Chambers of Commerce (BCC) has claimed. The report, which polled more than 1,100 businesses of all sizes, found that 64% were bamboozled by an array of rates and rules to comply with VAT legislation. This percentage is … Continued

Pressure is mounting on the government to reform the apprenticeships system, following recent apprenticeship levy statistics. The Institute of Directors (IoD) has joined the British Chambers of Commerce (BCC) in urging the government to address ongoing problems with the levy. Apprenticeship starts were down 25% for the seven months to February 2018 compared with the … Continued