Running a small business right now might feel like the odds are stacked against you and six in ten small businesses are shutting their doors within their first three years, according to the UK Office for National Statistics. It’s not easy to keep your operations running and margins on track when you’re not even sure of […]
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The Government has confirmed it is putting its requirement for small and micro companies to publicly file profit and loss (P&L) information at Companies House on hold. This is all part of the reforms under the Economic Crime and Corporate Transparency Act (ECCTA) and has eased some immediate pressure on small businesses. However, they might […]
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Running your business means spinning a lot of plates and you shouldn’t have to sacrifice growth to stay on top of your bookkeeping. That is why many businesses are keen to explore the benefits of outsourcing their bookkeeping to professionals, to help them free up more time. Before you make the move, you may be […]
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Research by the Standard Life Centre for the Future of Retirement revealed that two in five (39 per cent) employers are less likely to offer salary or bonus sacrifice pension schemes. It might just be that employers are making a U-turn on their current schemes due to the National Insurance relief cap announced in the […]
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Employers are facing growing uncertainty over the future of salary sacrifice pension schemes following the Government’s decision to introduce a £2,000 annual cap on National Insurance (NI) relief for pension contributions made through salary sacrifice. Although the cap will not take effect until April 2029, research suggests businesses are already reassessing whether these arrangements remain […]
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Employers’ predictions seem to be coming true as National Insurance Contributions (NICs) have skyrocketed to £28 billion, exceeding the Government’s original forecast of £23.9 billion. On 6 April 2025, the employer NIC rate increased from 13.8 per cent to 15 per cent and the threshold for employee earnings that require employer NICs dropped to £5,000 a year. Put all these reforms together and employer costs […]
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Rising costs seem to be coming at UK businesses from all directions, resulting in many difficult financial decisions needing to be made. New research by the Liquidation Centre found that some employers are opting for job cuts to manage these expenses and 315,605 jobs have already been flagged for redundancy this year. Times are tough […]
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For sole traders, self-employed individuals and landlords with gross incomes exceeding £50,000 from self-employment or property, you are now mandated to abide by Making Tax Digital (MTD) for Income Tax regulations. Applied from 6 April 2026, these new responsibilities require those affected to provide quarterly updates of their income and expenses to HMRC. The first […]
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If you have been one of the lucky ones to secure a pay rise this year, be mindful that the High‑Income Child Benefit Charge (HICBC) does not crash the party. How does HICBC work? The HICBC can kick in if either you or your partner earns more than £60,000 a year and Child Benefit is […]
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There was a time when SMEs relied on their main bank for all of their finance options. Recent economic pressures are leading to more cash flow challenges for SMEs and the old approach may no longer be sufficient. Greater financial awareness is causing more SMEs to explore asset and invoice financing, with search enquiries for […]
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