A newly proposed traffic light system could be used to put a spotlight on businesses with track records of late payments.
The cash flow difficulties that late payments cause small businesses are well known. However, the cost of recovering late payments is less well publicised, despite being a major and growing expense – coming in at around £9,000 last year for
Confidence amongst small businesses has tumbled to a seven-year low – in part due to the uncertainty of Brexit. A survey carried out by the Federation of Small Businesses (FSB) has found that nearly one in three small exporters think
As a business takes off, the level of investment it needs in order to expand can significantly outpace growth in revenues and profits. One of the options open to entrepreneurs at this stage in the development of a business is
According to the Organisation for Economic Co-operation and Development (OECD), UK tax revenue as a percentage of GDP rose to 33.3 per cent in 2017.
It should seem obvious whether an individual must submit a self-assessment tax return annually. Yet, each year, thousands of people find themselves brought into the regime unwittingly. To help taxpayers prepare their affairs accordingly, HM Revenue & Customs (HMRC) is
The House of Lords Economic Affairs Committee has criticised some of the powers granted to HM Revenue & Customs (HMRC), describing them as disproportionate and lacking effective taxpayer safeguards.
Christmas is a time for giving, but many businesses may not be aware that their gifts can be made in a tax-efficient manner, which could make raising festive spirits that little bit cheaper. While Christmas parties may not be for
New research from the World Bank has revealed that the UK has the second most effective tax system amongst the G20 nations for tax compliance and ease of paying corporate taxes. According to the survey, companies take an average of
The House of Lords Economic Affairs Committee has criticised HM Revenue & Customs (HMRC) for its handling of Making Tax Digital (MTD) and called for a delay to some of the regime’s mandatory requirements. The majority of VAT-registered businesses with