The amount of unpaid UK tax has remained at an all-time low of 4.8 per cent, HM Revenue and Customs (HMRC) has revealed. Its annual statistics also show that small businesses account for more than half the reported gap. HMRC’s ‘Measuring Tax Gaps’ publication estimates the difference between the total amount of tax expected to […]
The cost of energy continues to cause concern for small businesses. New figures show hundreds of thousands are trapped in contracts that mean their latest bills are at last summer’s peak market rate for energy – even though wholesale prices have fallen since last winter. That is why The Federation of Small Businesses (FSB) is […]
The government has extended the voluntary National Insurance deadline to July 31 this year. The three-month extension will give taxpayers more time to fill gaps in their National Insurance record and help increase the amount they receive in state pension. The government says thousands of people with incomplete years in their record could be financially […]
Standing at the despatch box chancellor Jeremy Hunt delivered what he called a ‘budget for growth’ which he declared was aimed at improving productivity and driving innovation across the UK. However, his big speech left many commentators feeling that more business support could and should have been delivered, especially for the nation’s SMEs. The Federation […]
There is little doubt that HMRC has been ramping up enquiry activity into potential tax avoidance in recent months and that work is going to intensify. Figures last September showed the number of professional fee insurance claims had increased by 60 per cent over just one quarter as compliance activity increased. In December, the Financial […]
Looking to grow your business but concerned about the financial risk in these uncertain times? Franchising could be the answer, according to David Nelson, director and co-founder of The Business Clinic, which specialises in supporting companies on their franchising journey. He says: “In these uncertain times successful businesses are still looking to grow. Franchising the […]
The increase to corporation tax rate confirmed in last November’s autumn statement will come into effect from April 1 this year. What will it mean for you? At the present moment in time all companies, whatever the size of their profits, pay the tax at the rate of 19 per cent. However, from April 1 […]
