Category Archives: Uncategorized

How to avoid unpleasant cash flow surprises

With proper cash flow management then you will not suffer from this. To test how good your business controls are, ask yourselves these seven questions:- Have you previously suffered a cash flow shock but done nothing to improve your controls? …

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Employers taking more optimistic view on job creation

Employers are adopting a longer-term approach to recruitment and hiring as optimism about the future increases. The latest JobsOutlook report from the Recruitment and Employment Confederation (REC), which covered May, found that 44 per cent of respondents have plans to …

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Plumbing industry to get tax letters

HM Revenue and Customs (HMRC) has said that some 50,000 trades people in the plumbing, gas fitting and heating industry will be getting letters this month allowing them the chance to set their tax affairs in order. The letter forms …

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Firms urged to sign up early for new online VAT rules

Businesses are being reminded that new regulations governing the filing of VAT returns and the payment of VAT liabilities are to come into effect next year. Firms with a VAT turnover of less than £100,000 annually and that registered for …

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Self-employed entrepreneurs need to be nurtured

The Government must work harder to create the right conditions in which entrepreneurs can flourish, a leading business group has said. Against a background of rising unemployment, the Federation of Small Businesses (FSB) has urged the Government to establish the …

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Job market showing signs of some improvement

Permanent staff appointments grew at their fastest rate in ten months during February, it has been reported. According to the Recruitment and Employment Confederation (REC), there was also a marked increase in the number of temporary positions last month, the …

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Radical reforms proposed for small business taxation

The Office of Tax Simplification, set up by the Government to review the operation of the tax system, has recommended a radical overhaul of small business taxation in its interim report. Foremost amongst the recommended changes is a merger of …

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Employment tribunal system in need of repair

Over two thirds of employers believe that the current employment tribunal system offers them no protection against employees who make wholly unjustifiable claims. That is the finding of a new study carried out by the Chartered Institute of Personnel and …

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Final date looms for consultation on record keeping regime

A consultation on the penalty regime for firms that fail to keep their records in good order is set to end soon. The final date for the submission of views on a new system of record-keeping compliance checks is 28 …

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Small businesses coping with VAT increase

Small firms appear to have taken the recent hike in VAT in their stride. The standard rate of VAT climbed from 17.5 per cent to 20 per cent on 4 January amid concerns at the effect it would have on …

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Retirement age starting to creep up

The average age at which employees retire is beginning to rise, new figures indicate. Data from the Office for National Statistics (ONS) have shown that the average age at which men leave work climbed from 63.8 years in 2004 to …

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Late invoice payment back on the agenda

Late payments of business invoices have risen to their highest level for three years, a new report has found. The study, carried out by Experian, revealed that late invoice settling in the last quarter of 2010 soared by 16 per …

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Treasury should delay new accounts filing technology

The Government has been urged to put back the introduction of a new computer system for the submission of company accounts. The call has come from the UK’s leading accountancy bodies. Five of the foremost accountancy and professional tax bodies …

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Small business bank loan deal hits stumbling block

Efforts by the Government to come to an agreement with the major banks on lending to small firms have reached a temporary impasse. Under the agreement, some £200 billion in small business lending was to have been slated for 2011. …

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Companies House looks to electronic filing by 2013

Companies House has said that it expects to become a fully electronic registry in the next two years. It anticipates that all incorporations and filings of annual returns, accounts and the main company changes will be digital-only for over 98 …

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Limits on employment payment awards to rise

The Government has announced that there will be new limits on the unfair dismissal and redundancy payments made to workers in certain employment rights cases. The new limits will come into effect as from 1 February and they will rise …

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Lower taxes would help small firms unable to access finance

A new report has argued that small firms are facing serious obstacles to growth, some of which could be overcome by lower business taxes. A study from think-tank, the Centre for Economics and Business Research (CEBR) claimed that the 4.8 …

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Finance Bill given advance warning

The draft version of the Finance Bill 2011 has been published three months ahead of the laws coming into effect. The publication date will provide businesses with time in which to prepare for the changes. Previously, legislation was not presented …

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HMRC launches second stage of PAYE consultation

HM Revenue and Customs (HMRC) has published a new consultation document on ways of improving the PAYE system. It follows on from an initial document issued back in July and forms the second stage of the Government’s plans for reforming …

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Small firms should embrace green economy

Smaller firms have been urged to take advantage of the opportunities that the developing low-carbon economy has to offer. The global market for low-emission goods and services is predicted to be worth £4 trillion by 2015, and the CBI has …

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