Author: Neil Dando

  • Business valuation: Knowing your company’s worth

    Essential knowledge for accurate market assessments Understanding your business’s value is more than a number on a balance sheet – it’s a crucial indicator of your company’s health and future potential. Whether considering a sale, seeking investment or planning strategic moves, a precise valuation provides robust information. With this spotlight, we aim to guide you…

  • MPs warn unfair banking is harming small firms

    The Treasury Committee says confidence among SMEs has fallen. The Treasury Committee has warned about the negative impacts of unfair banking practices and inadequate financial regulation on small and medium-sized enterprises (SMEs). The report, stemming from an inquiry into SME access to finance, highlights the struggles these businesses have faced over the past five years,…

  • SME energy standing charges are too high

    Some SMEs’ costs have risen by more than 1000%. Nearly two-thirds of these businesses cite utility costs as a key factor driving higher expenses. Small businesses in the UK are grappling with significant increases in fixed daily utility costs, escalating regardless of usage. Recent data shows that nearly two-thirds of these businesses cite utility costs…

  • UK predicted slowest growth among rich nations

    GDP is expected to rise by only 1% in 2025, below other G7 nations such as Canada, France, Germany, Italy, Japan and the US. The Organisation for Economic Cooperation and Development (OECD) has forecasted that the UK’s gross domestic product (GDP) will increase by only 1% in 2025, placing it below other G7 nations such…

  • House prices fall for the second month in a row

    House prices fell by 0.4% in April to £261,962, following a 0.2% drop in March. UK house prices declined for the second consecutive month in April, influenced by uncertainties around interest rates and rising mortgage costs, which impact the traditional spring home buying season. According to the Nationwide Building Society, April’s average house price fell…

  • Brexit charges could lead to higher food prices

    Fees of up to £145 will be charged from 30 April. Small imports such as sausages and cheese are included in the charge. Trade groups have warned of potential increases in food prices following the Government’s announcement of new post-Brexit import charges on EU food and plant products. These charges, known as the common user…

  • Enhanced child benefit payments set to commence

    There was a significant uplift for families from 6 April as the annual entitlement for one child was raised. Additional child payments also increased. HMRC has announced that, from 6 April 2024, millions of UK families receiving Child Benefit will see their payments increase. In a move to support households, the Government has raised the…

  • Stealth tax freeze threatens income of pensioners

    1.6m additional retirees dragged into income tax levy. 8.5m currently paying income tax, up from 4.9m in 2010. New research for the House of Commons has shown that due to the income tax threshold freeze of £12,570 until 2028, an additional 1.6m pensioners will have to pay income tax in the next four years. This…

  • House prices grow slowly in March

    Higher mortgage rates affect affordability as the cost of buying a home strains budgets. Nationwide has reported a mixed picture of the housing market. On average, property prices increased 1.6% from March 2023, marking the quickest pace of growth since December 2022. However, a slight dip of 0.2% was observed in March compared to February,…

  • Debt management strategies

    Practical and effective steps to manage debt Managing debt effectively is an increasingly crucial component of personal financial health in today’s economic climate. With rising living costs and the easy availability of credit, it’s easy to find yourself in a situation where debt becomes overwhelming. This guide offers you practical and effective strategies tailored for…

  • Tax deadlines and penalties for limited companies

    Essential tax compliance for limited companies Managing a limited company requires meticulous attention to regulatory obligations, particularly with regard to tax and accounting. Financial compliance is punctuated by a series of key deadlines and potential penalties for non-compliance, demanding a proactive and informed approach from company directors. This guide delves into the intricacies of these…

  • Managing cashflow: Tips for small businesses

    Cashflow management advice Managing cashflow effectively is critical for the survival and growth of your small business. It’s about planning, monitoring and controlling the money coming in and going out of your business, which ensures you have enough cash to cover your expenses and avoid insolvency. Given the nature of the economy and evolving business…

  • Personal tax planning in 2024/2025

    Navigating your finances with confidence As we step into the 2024/25 tax year, it’s now more important than ever to take a proactive approach to managing your personal finances. Whether you’re navigating the complexities of income tax, considering investment opportunities or planning for your future, understanding the nuances of the UK tax system can help…

  • PM proposes scrapping National Insurance

    Plans to simplify tax could require other increases. In 2022/23, NICs generated £178bn, with £103bn from employers, £65bn from employees, and around £10bn from the self-employed. The Prime Minister, Rishi Sunak, has suggested the possibility of eliminating National Insurance contributions (NICs) for workers, following another 2% cut announced during the Budget. National Insurance, established in…

  • Stealth tax and savings shake up salary bands

    Fiscal drag raises tax burden for many. Following the recent Spring Budget, NI rates in the UK will decrease by 2%. Following the recent Spring Budget, National Insurance (NI) rates in the UK will decrease by two percentage points, reducing to 8% on earnings between £12,570 and £50,270, down from the current 10%. This change,…

  • Manufacturing and R&D to receive £360m boost

    Funding aims to drive economic growth, enhance health resilience, and generate employment. Jeremy Hunt has announced a £360m investment in UK manufacturing to drive economic growth, enhance health resilience and generate employment. Furthermore, there will soon be opportunities for companies to engage in a £520m life sciences manufacturing fund designed to prepare for health emergencies…

  • UK house prices rise as interest rates fall

    The average house price increased by 1.2% compared to last year, climbing to an average of £260,420. The last growth was seen in January 2023. In February, UK house prices experienced their first annual increase in over a year, signalling a rejuvenation in the housing market spurred by reduced borrowing costs. Nationwide has reported that…

  • Spring Budget 6th March 2024

    SPRING BUDGET 2024 INTRODUCTION With the UK entering a technical recession at the end of 2023 and a general election on the cards this year, Chancellor Jeremy Hunt was under pressure to deliver a Spring Budget that demonstrated fiscal responsibility and generosity. Dubbing the fiscal statement a ‘Budget for long-term growth”, Hunt focused his speech…

  • Is property investment right for you?

    Many individuals invest in real estate to boost their income and gain greater financial security. But while the journey can be rewarding, it also requires committing a significant amount of your own time and money. So, how do you know if property investment is right for you? In this guide, we outline what you need…

  • The ABCs of VAT for small business owners

    Value Added Tax (VAT) is a significant part of the UK tax system. If you run a VAT-registered business, you’re required to charge this tax on most goods and services, which you must then report and pay to HMRC. Basically, you are collecting VAT on the Government’s behalf. While this may sound straightforward at first,…