Month: November 2018

  • Deregistering for VAT

    When and how to begin the process of deregistration. These days VAT thresholds are the subject of much speculation, with the Government concerned that many business owners deliberately choose to stay below the VAT-registration threshold. Limiting your ambition in this way might seem counter-intuitive – surely you want your business to get as big as…

  • Budget 2018: Tax and business round-up

    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…

  • Government announces apprenticeship levy reforms

    Chancellor Philip Hammond has announced a package of new measures to reform the under-fire apprenticeship levy. Under the revised rules, employers who pay the apprenticeship levy will be able to transfer a quarter of their funds to organisations in their supply chain, including smaller employers. Levy-paying businesses have been able to transfer up to 10%…

  • Small firms not ready for Brexit

    Small businesses are woefully unprepared should the Government deliver a no-deal Brexit, according to a report. The Federation of Small Businesses (FSB) surveyed 1,234 business owners, and found only 14% had contingency plans in place for the UK exiting the EU without arrangements having been agreed. The research revealed that 41% of UK SME owners…

  • Most small businesses receive funding boost

    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.…