Business Support

Budgeting and forecasting in a period of lower confidence

Many business owners are entering the new year with a sense of caution. Confidence across the UK business community has softened, driven by continued cost pressures, uncertainty over tax policy and higher financing costs. In this environment,

Business rates support and cash flow for hospitality businesses

Hospitality businesses continue to operate in a challenging environment. Rising wage costs, energy prices and supply chain pressures have all placed strain on margins. Against this backdrop, recent business rates support measures offer welcome relief

Turning waste disposal into an income stream

For many businesses, waste disposal is seen purely as a cost, an unavoidable expense required to stay compliant and keep operations running smoothly. However, there is growing interest in the idea that waste, when managed differently, can become a

Do you need a company audit in the UK?

Not every UK limited company needs a statutory audit. Many smaller companies qualify for audit exemption, but it is important to understand the rules, as an audit may still be required in certain situations.

For financial years starting on or after

What banks look at when a small business applies for a loan

When a small business applies for a bank loan, the bank is mainly trying to answer one question, “How likely is it that we will be repaid, on time and in full?” To reach that decision, they will review a mix of financial evidence, trading

Company liquidations and insolvencies are still elevated

The Insolvency Service data for England and Wales shows monthly company insolvencies remain high by historical standards, even though they move up and down month to month. For example, November 2025 recorded 1,866 registered company insolvencies,

Learning from mistakes in business

Making mistakes in business is unavoidable. No matter how experienced or careful someone is, decisions are made with imperfect information, time pressure and changing conditions. What separates resilient businesses from those that struggle is not the

Cash flow pressures

Cash flow remains one of the most pressing concerns for small businesses, even where trading appears stable. Many businesses are finding that rising costs, cautious lenders and slower customer payments are combining to create ongoing pressure on day

Funding options for asset acquisition

Acquiring new assets is often essential for small businesses looking to grow, improve efficiency or remain competitive. Whether the investment is in vehicles, machinery, IT systems or specialist equipment, choosing the right funding method can have a

Avoid over-stocking

Accountants often see the impact that excess stock has on a business long before the business owner realises what is happening. Over-stocking drains cash, fills storage space, increases waste, and restricts flexibility at key moments. Many business

The value of an overhead audit

Many businesses regard their overheads as fixed, predictable, and largely outside their control. In reality, an overhead audit often uncovers costs that have risen quietly, services that are no longer used, and processes that have gone unchallenged

Outlook For Food And Energy Prices In The Year Ahead

Food and energy costs remain central concerns for households and businesses because they influence everything from wages to margins to day to day operating decisions. Inflation is easing compared to the volatility of the last few years, but the

The link between planning and progress

Most business owners know that progress matters, but many still hesitate when it comes to planning. It can feel like an extra task or something that only large companies need to worry about. Yet, in practice, steady planning is one of the simplest

How a business grows financially by retaining profits

Many business owners focus on sales as the main driver of growth. Sales matter, but they are only part of the story. Real financial growth happens when a business retains profits. Keeping a portion of earnings inside the business, rather than

Preparing for tighter credit conditions in 2026

Many small businesses rely on a mix of overdrafts, card facilities and short term loans to maintain day to day cash flow. During the past year banks and alternative lenders have become more cautious, and several indicators suggest that credit

Directors liability for company debts

A limited company is a separate legal entity. In normal circumstances, its debts belong to the company, not to the directors. This is one of the central advantages of incorporation. However, the protection is not absolute. Directors have duties in

How many businesses are there in the UK?

Current estimates suggest that there are around 5.6 million businesses operating in the UK. This figure comes from the Department for Business and Trade and the Office for National Statistics. What stands out is that most of these businesses are very

Reviewing insurance cover

Many businesses arrange insurance in the early days and then only look at it again when something changes, or when a renewal comes around. The difficulty with this approach is that risks evolve over time, and gaps in cover often only become visible

Understanding the responsibilities of company directors

Taking on the role of a company director is more than holding a title. Directors have legal duties that shape how a company is run, how decisions are made and how risks are managed. These responsibilities exist to protect the business, its

Facing change with confidence

Change is part of every business journey. Whether it is prompted by new technology, regulation or shifts in the market, the ability to adapt determines how well a business performs in the long term. Yet managing change is not simply about introducing

Valuing and pricing goods and services

For any business, knowing how to value and price what it sells is fundamental to success. Yet many small firms still rely on guesswork or simply copy competitors’ prices without understanding whether their own costs, quality or value proposition

UK productivity remains disappointingly weak

The UK continues to struggle with low productivity growth, a long-running challenge that shows little sign of improvement. In the three months to June 2025, output per hour worked was around 1.5% above its pre-pandemic level, but it actually fell by

Why solvency is the true test of business strength

Every successful business, no matter how innovative or fast-growing, ultimately depends on one simple measure: solvency. A solvent business is one that owns more than it owes, with sufficient assets to cover its debts and the means to continue

Business meetings – Face to face or online?

The way we meet has changed dramatically in recent years. Technology now makes it possible to discuss projects, close deals and hold team meetings without ever leaving our desks. Yet for many, there is still something powerful about sitting across

Winning new contracts without offering punitive credit terms

In today’s competitive market, many businesses feel pressured to extend generous payment terms to win new contracts. However, offering long or risky credit arrangements can strain cash flow and expose you to unnecessary financial risk. The good news

Building financial resilience in uncertain times

Every business faces unexpected challenges. Rising costs, supply delays, late payments and sudden changes in demand can all place pressure on cash flow. The businesses that cope best are usually those that have taken time to build financial

Profitability through better management information

Many business owners make decisions based on instinct, but intuition alone can be unreliable. Having timely, accurate management information replaces guesswork with insight and leads to stronger profitability.

Management information differs from

Five goals every small business owner should set

Running a small business can feel like juggling endless priorities, but taking time to set clear goals is essential if you want your business to grow and remain sustainable. Here are five goals that every owner should consider.

1. Strengthen cash

Choosing the right way to buy a vehicle for your business

For many business owners, a vehicle is an essential tool. Whether it is for visiting clients, delivering goods, or simply keeping things moving, choosing how to finance a vehicle can have a big impact on cash flow and tax planning. There are several

What is the recent £150bn tech investment deal?

During the State Visit by President Trump, the UK secured a record-breaking £150 billion of inward investment from US firms. The package is intended to boost jobs, support growth, and advance the UK’s key industrial sectors, especially life sciences,

Understanding working capital and why it matters

Working capital is a simple but powerful measure of a business’s financial health. It is the difference between current assets and current liabilities. In other words, it shows what is left when a business’s short-term debts are taken away from its

Why you should maintain a tax reserve

Every business has a duty to pay tax, whether that is Corporation Tax, VAT, PAYE, or personal tax liabilities for the owners. While these payments are predictable, many businesses still find themselves short of cash when the due dates arrive. One way

GOV.UK One Login – enhanced security from 13 Oct 2025

From 13 October 2025, access to Companies House WebFiling will require GOV.UK One Login. This replaces the older Government Gateway sign-in and is part of the wider move towards a single, more secure login across government services.

When you next

What insurance cover should a company consider?

Running a small business comes with plenty to juggle, and while insurance might not be the most thrilling task, it is absolutely essential. There is one policy you are legally required to have: employers’ liability insurance (EL). If you employ

Cash flow resilience and access to funding

Running a small business often feels like walking a financial tightrope. Cash can be flowing in nicely one month, only to dry up the next. With interest rates higher than they were for years and lenders tightening their checks, access to money has

Keeping your best people with flexible working

For many small business owners, finding and keeping good staff is one of the biggest headaches. Recruitment is costly, time-consuming and uncertain. That is why focusing on staff retention is one of the smartest moves you can make.

People stay where

Why increasing an overdraft to fund losses is a dangerous game

Many business owners see their bank overdraft as a flexible safety net. When cash runs short, the temptation is to ask the bank for a higher limit to keep things moving. While this can provide breathing space in the short term, relying on overdrafts

How to gain a competitive advantage

In every market, businesses face competition. Some competitors may be larger, others may have deeper pockets, but gaining a competitive advantage is not always about size or spending power. It is about finding ways to stand out, deliver value, and

Improve cash flow with smarter invoicing habits

Why cash flow matters
Profit is important, but cash pays wages, suppliers and loan repayments. Even strong businesses can struggle if money arrives late. A few disciplined habits around invoicing and collections can shorten the time it takes to get

Management buyouts: benefits for owners and teams

A management buyout keeps the business in familiar hands. The team that already understands customers, systems, and culture steps into ownership, which reduces disruption and protects service quality. For founders, a management buyout allows a

The value of retaining profits to support cash flow and growth

For small businesses and growing companies alike, one of the most reliable sources of funding is often the profits they generate. While it can be tempting to extract earnings in the form of dividends, bonuses, or reinvestment elsewhere, there is a

Employing family members in your business

Many small business owners turn to family members when looking to fill roles in their team. It can seem like a natural choice, offering trust, loyalty, and a shared sense of purpose. However, employing family in your business is not without its

Choosing a Business Rates Agency

The Valuation Office Agency (VOA) has issued updated advice to help business owners choose and monitor business rates agents more effectively. A key message is that the name listed in the Check and Challenge service must match the name on the signed

Red tape eased for new cafes and bars

Communities and town centres across the UK are about to get a serious boost. The Government has unveiled sweeping reforms aimed at slashing red tape so new cafés, bars, music venues and outdoor dining spaces can spring up in former shops and

UK Export Finance: Empowering UK Businesses to Go Global

UK Export Finance (UKEF) is the UK’s export credit agency and government-backed financier. Its mission is to ensure that no viable UK export fails simply due to lack of funding or insurance.

What UKEF offers

Working capital support: Through

Big cuts to electricity network costs for heavy industries

The UK Government has unveiled a landmark plan to reduce electricity network charges for the country’s most energy intensive industries, such as steel, ceramics, glass and chemicals, slashing costs by up to 90% from 2026.

What is changing?

The

Choosing the right KPI’s for your business

Key Performance Indicators (KPIs) are not just numbers on a dashboard; they are tools to help business owners make better decisions. But with so many metrics available, how do you know which ones matter most for your business?

The answer is simple:

Why industry expertise matters when starting a business

Starting your own business can be an exciting and liberating decision. But passion and ambition alone are rarely enough. One of the most overlooked factors in business failure is a lack of direct experience or knowledge in the chosen industry. Put

Why exit planning matters – even in the early years of your business

Starting and growing a business is an exciting and demanding challenge. It is easy to focus all your energy on immediate goals like winning customers, generating income, and keeping cash flow under control. But at some point, every business owner

Are you ready for Companies House ID checks?

From 2025, Companies House is rolling out new identity verification requirements for directors, people with significant control (PSCs), and anyone forming or managing a UK company. These changes form part of the Economic Crime and Corporate

How AI is changing your business

Artificial intelligence (AI) is no longer something for big tech firms alone – it is becoming a practical tool for small businesses, especially when it comes to financial management and forecasting.

We can now harness AI tools to speed up data

Redress for Post Office Capture victims

In a significant update, the UK government has unveiled a new compensation scheme targeting individuals affected by the earlier “Capture” software, used in over 2,000 Post Office branches during the 1990s. This programme aims to redress

BT Eyes Deeper Job Cuts as AI Reshapes Telecoms

BT has announced that it may exceed its previously stated target of cutting 40,000 jobs by 2030, as artificial intelligence (AI) becomes more central to its operations. The move comes as the company accelerates its cost-cutting programme and seeks to

Four critically important KPIs

Gross profit margin
This measures the profitability of your core operations by comparing gross profit (sales minus cost of goods sold) to total revenue. A stable or improving gross margin indicates pricing, production, or service delivery is

Government sells last Nat West shares

The UK government has officially concluded its involvement with NatWest Group, formerly known as the Royal Bank of Scotland (RBS), by selling its remaining shares. This move ends nearly 17 years of public ownership that began during the 2008

How working capital is funded

Working capital refers to the day-to-day funds a business uses to manage its operations. It is the difference between current assets (such as cash, stock, and trade debtors) and current liabilities (such as trade creditors and short-term loans).

Buying a business – a simple due diligence checklist

Before you agree to buy a business, it is essential to carry out due diligence. This means carefully checking the facts and risks so that you can make an informed decision. Here is a basic checklist to guide you through the process.

1. Review

Top 10 skills every business owner should acquire

Running a business involves wearing many hats. Whether you are just starting out or looking to grow, developing the right skills can make all the difference. Here are ten practical skills that will help you manage your business with greater

The value of applying for trade marks

A trade mark is a vital tool for protecting the identity and reputation of your business. It can take the form of a name, logo, slogan, shape, or even a sound, and once registered, gives you exclusive rights to use that mark in connection with

The legal responsibilities of directors

When someone agrees to become a director of a UK limited company, they take on a set of legal responsibilities defined under the Companies Act 2006 and other relevant legislation. These duties are not just symbolic – directors have a legal obligation

Still recording your accounts on spreadsheets?

For small and medium-sized enterprises (SMEs), adopting accounting software offers a range of practical benefits that help streamline financial management, reduce errors, and improve decision-making. Here are the key advantages:

Time-Saving

How to Increase Gross Profit Returns

Gross profit is one of the clearest indicators of how well your business is performing. It’s the money left after deducting the direct costs of producing goods or services from your turnover. If your gross profit margins are tight, your business will

Fresh Ideas for Additional Revenue Streams

For many small and medium-sized enterprises (SMEs), the core business keeps the lights on, but additional income streams can provide much-needed stability and growth. Whether you’re a service provider, a retailer, or run a niche consultancy,

Access to Funding and Credit

For many small business owners, getting access to funding feels like trying to squeeze water from a stone. Traditional banks have always been a bit cautious when it comes to lending to smaller enterprises, but over the past few years, it’s become

Cybersecurity

Cybersecurity might sound like something only big corporations need to worry about, but in truth, small businesses are increasingly in the firing line. In fact, many cyber criminals deliberately target smaller firms, knowing they often lack the

UK Responds to New US Tariffs

The UK’s Business and Trade Secretary, Jonathan Reynolds, has set out the government’s position following the United States’ recent imposition of new tariffs on UK exports. These include a 10% reciprocal tariff on British goods and a separate 25%

£13.9bn of R&D funding

The UK government has announced a record-breaking £13.9 billion in research and development (R&D) funding for the coming year. This major investment is designed to drive innovation, create quality jobs, and support long-term economic growth

Dealing with supply line interruptions

Supply line interruptions can be a nightmare for any business. Whether it’s a delay in deliveries, a shortage of materials, or problems with international shipping, things can grind to a halt fast. But with a bit of planning and a calm approach, you

Managing gross profit returns

Gross profit is one of the clearest indicators of how well your business is performing. It’s the amount left after deducting the cost of goods sold (COGS) from your sales revenue. Managing your gross profit returns well is crucial because it directly

Recycling changes

​As of 31 March 2025, new regulations have come into effect in England, requiring workplaces to adopt simplified recycling practices. These measures aim to eliminate confusion over waste sorting, enhance recycling rates, and reduce waste sent to

Pubs and premises insurance

In March 2025, the Pubs Code Adjudicator (PCA) wrote to all pub-owning businesses to reinforce the importance of complying with Regulation 46 of the Pubs Code. This regulation focuses on how premises insurance is handled and, crucially, the tied

How Small Businesses Can Survive a Recession

Recessions can be tough on small businesses, but they do not have to spell disaster. With some smart thinking and a bit of planning, many firms can keep going and even emerge stronger once the economy picks up. Here are some practical ways to stay

How to Approach Your Bank for a Business Loan

Asking your bank for a business loan can feel daunting, but it doesn’t have to be. With the right preparation, you can give yourself the best possible chance of getting a positive outcome.

Start with a clear purpose
Banks want to know why you need

Business Advice: An Investment, Not a Cost

Flexible planning is essential for adapting to uncertainty, responding to challenges, and seizing new opportunities. The world is unpredictable, and rigid plans can quickly become outdated. Whether in business or personal life, flexibility ensures

Why Adequate Business Insurance is Essential for Small Businesses

For small business owners, especially those operating as sole traders or in partnerships without limited liability, having adequate business insurance is not just a safeguard—it’s a necessity. Without the legal protection of a limited company

Government backed Start-Up Loans

The Government-backed Start-Up Loans scheme offers unsecured loans of £500 to £25,000 per person (up to £100,000 per business) to help entrepreneurs grow. With a fixed 6% interest rate and mentoring support, it’s a great funding option for new

Sources of funding for small businesses

Starting or growing a small business often requires capital, but securing the right funding can be a challenge. Fortunately, there are various funding sources available to entrepreneurs, each with its own benefits and drawbacks.

Personal

Essential Credit Control for SMEs

A well-structured credit control system is crucial for small businesses to maintain cash flow and reduce the risk of bad debts. Without proper controls, late payments can disrupt operations and put financial strain on the business.

Clear Credit

The benefits of benchmarking financial results

Benchmarking financial results involves comparing a business’s financial performance against industry standards or competitors. This process offers numerous benefits, helping businesses identify strengths, weaknesses, and opportunities for

E-invoicing consultation

HMRC together with the Department for Business and Trade (DBT) have launched a new consultation on e-invoicing to encourage its broader adoption among UK businesses and government departments. The consultation will run for 12-weeks and aims to cut

Should you incorporate your business?

Deciding whether to incorporate your business in the UK involves evaluating several key factors:

Limited Liability Protection

Incorporating as a limited company creates a separate legal entity, safeguarding your personal assets from business debts

How to Check the Creditworthiness of New Customers

Before extending credit to new customers, it’s essential to assess their financial reliability. Checking their creditworthiness helps protect your business from potential losses and late payments. Here’s how to do it:

Start by requesting basic

A Small Business Guide to Exporting and International Trade

Expanding into international markets can be a game-changer for UK small businesses, opening up new revenue streams and increasing business resilience. With the right knowledge and support, even small firms can successfully sell their products and

Late Payment Support for Small Businesses – How to Protect Your Cash Flow

Cash flow is the backbone of any small business, yet late payments continue to be a major challenge for entrepreneurs across the UK. According to the Federation of Small Businesses (FSB), around 50,000 businesses close annually due to cash flow

Investing in new equipment for your business?

Making a significant investment in new equipment can be a transformative step for a business, improving efficiency, productivity, and competitiveness. However, such a decision requires careful planning and analysis to ensure the investment aligns

Why Protecting Intellectual Property is Important

Intellectual property (IP) refers to creations of the mind, such as inventions, literary works, designs, brand names, and artistic outputs. Whether you are a business owner, inventor, writer, or entrepreneur, protecting your intellectual property is

Government Unlocks Success for Small Businesses

Small businesses across the UK can now access streamlined support and advice through the newly launched Business Growth Service, designed to simplify and enhance the way SMEs engage with government resources.

Simplifying Support for SMEs

Navigating

Launch Your Dream Business: 10 Must-Know Steps

Starting your own business is exciting but can be overwhelming if you’re not prepared. To help you navigate the journey, we’ve compiled a list of 10 key considerations that will set you up for success. Whether you’re launching a small business or a

What does EBITDA stand for?

EBITDA stands for Earnings Before Interest, Taxes, Depreciation, and Amortisation. It’s a widely used financial metric that provides a measure of a company’s operating performance, excluding the effects of financing, accounting, and tax decisions. By

R&D receives a welcome boost in the Budget

As part of the October Budget the Chancellor announced the highest ever level of government investment of £20.4 billion in research and development for next year, reinforcing the government’s commitment to back the UK’s R&D ecosystem to drive

Keeping an eye on competitors

Keeping an eye on competitors offers crucial advantages, especially in a dynamic market. Here’s why it pays off:

Improving Market Positioning
By observing competitor pricing, branding, and marketing strategies, you can position yourself better in

Managing business cashflow

Cash Flow Forecasting

Creating a cash flow forecast helps you predict your inflows and outflows, allowing you to anticipate any cash shortages. Update it regularly, be conservative in estimates, and account for any seasonal trends. A well-maintained

Government crack-down on late payers

The government has unveiled new measures to support small businesses and the self-employed by tackling the scourge of late payments, which according to the Smart Data Foundry is costing SMEs £22,000 a year on average and according to FSB research,

Business cashflow

The government offers the following information regarding business cashflow.

If you do not have enough money coming in to pay for goods, services and taxes your company has, you are at risk of insolvency.

Why is cashflow important?

‘Cashflow’ is

Trade Mark protection

To apply for trademark protection in the UK, you will need to follow these steps:

Check if Your Trademark is Eligible
Ensure your trademark is unique and not too similar to existing trademarks. A trademark can include a word, logo, slogan, or a

Beware overtrading

Overtrading occurs when a business expands its operations at a pace that exceeds its available working capital and financial resources. This can happen when a company takes on more business than it can sustain without sufficient cash flow to support

What is the new National Wealth Fund

The UK’s new National Wealth Fund (NWF) represents a significant shift in the government’s approach to fostering economic growth and addressing climate change. Established by the Labour government, the NWF is designed to catalyse private investment

Business sectors subject to AML regulation

In the UK, certain business sectors are required to register with a regulatory body, such as HM Revenue & Customs (HMRC), for Anti-Money Laundering (AML) purposes. These sectors include:

Money Service Businesses (MSBs): This includes currency

Persistence pays off

Persistence in following up leads is a crucial trait in many fields, especially in sales and practice business development. It involves consistently pursuing potential opportunities, contacts, or information, even when initial efforts do not yield

£32m for AI projects

Companies developing artificial intelligence (AI) to improve safety on construction sites, reduce time spent repairing the railways and cut emissions across supply chains are amongst a number of projects set to receive a share of £32 million in UK

AI expert to lead action plan

New UK Science Secretary, Peter Kyle, has put Artificial Intelligence or AI at the heart of the government’s agenda to deliver change, sustained economic growth and improved public services.

The Secretary of State has appointed Tech entrepreneur and

Labour market stats not encouraging

The number of people classed as economically inactive has spiraled to 9.4 million.

Data published by the Office for National Statistics (ONS) shows the percentage of people employed has fallen to 74.4%, while a near record 2.8 million people are now

Your stake in your business

Ever wondered how your stake in your business is represented in your accounts?

The answer can be found at the bottom of your balance sheet. Simply put it is the value of your physical business assets less any liabilities; usually described as net

The new Chancellor’s first speech

The Chancellor has promised to take immediate action to fix the foundations of the economy, rebuild Britain and make every part of the country​ better off.

In her first speech as Chancellor, Rachel Reeves pledged to leaders of some of the UK’s

Responding to a personal data breach

The Information Commissioner’s Office has a simple guide that explains what you need to do in the 72 hours following a data breach.

The seven step approach advocated is set out below:

Step one: Don’t panic

It’s understandable if you’re concerned

Exit plans

Exit can be seen as quitting, especially if the exit discussed is your business interests.

But actually, business exit planning is an essential part of general business planning. In some respects, it is the most important aspect of business

Translation

If you receive documents from overseas customers or suppliers and you need to translate text into English, have you used Google Translate?

It’s a free, but incredibly powerful facility.

You can select to translate:

Individual blocks of text that

Extracting profits from a small, limited company

It is pretty much universally accepted that shareholders (usually directors) of small companies take out their remuneration as a small salary – a salary pitched high enough to secure NIC benefits but not high enough to that employee NIC contributions

What is a group company structure?

A group is formed when one company has control of, owns, a number of subsidiary companies.

A group is different to an arrangement where an individual owns a number of companies personally. In this case the companies would be called associated or

Tax relief for training costs

If you are self-employed it is important to know if an expense is tax allowable. Any allowable costs can be used to reduce your taxable profit.

As a general rule you can claim for items that you would normally use for less than 2 years as allowable

Setting up as a sole trader

Setting up in business as a sole trader is arguably the simplest way of starting and running a business. The advantages of being a sole trader include independence, ease of set up and running your business, and the fact that all the profits go to

Post Office convictions quashed

Convictions of hundreds of postmasters have been quashed following Royal Assent of the Post Office (Horizon System) Offences Act 2024.

Many postmasters endured financial ruin, the loss of homes, livelihoods, reputation and some even lost their lives

Customs declaration deadline

A reminder that businesses must submit all export declarations through the Customs Declaration Service (CDS) by 4 June.

Businesses exporting goods have less than one month left to move across to the CDS, HM Revenue and Customs (HMRC) announced

New Companies House powers

The recently introduced Economic Crime and Transparency Act has gifted Companies House a range of new powers aimed at reducing exploitation by corporate entities to pursue illegal enterprise.

The aim of the new reforms are:

Introducing identity

Business rates relief in England

Business rates are a tax on non-domestic premises, including most commercial properties such as shops, offices, pubs, warehouses and factories. The money raised through business rates is used to help fund local services like the police, fire and

Free management course for SMEs

The government has launched the new Help to Grow: Management Essentials course; a short online course with practical tips and resources for small business leaders.

It is based on the 12-week Help to Grow: Management Course and is suited for leaders

COVID Bounce Back abuse

The Insolvency Service has recently published information confirming that a total of 831 company directors were banned in 2023-24 for Covid support scheme abuse, up more than 80% on the previous year, and that the average length of director

Settling energy disputes

Business owners that are in dispute with their energy suppliers will be interested in the free support on offer from the Energy Ombudsman.

In a recent press release the Department for Energy Security and Net Zero confirmed the

What do we mean by profit?

When most business owners refer to business profits, they are likely to mean the difference between sales and costs, and more concisely, that sales exceed costs.

However, the word “profits” can prove to be a moveable feast as HMRC, banks

To register or not to register

In the recent Spring Budget, the VAT registration threshold was raised to £90,000 (previously £85,000) which means that smaller businesses that did not want to register for VAT, now have an additional £5,000 of turnover they can make each year

We are unpaid tax collectors

Clients often refer to the VAT added to supplier invoices as if it were a cost to their business regardless of their VAT position.

This is true if you are not registered for VAT, you do not have to add VAT to your sales and you cannot recover any

Time to rethink the credit you offer your customers

Most business owners are driven by sales targets and to meet these targets they may be tempted to offer extended payment terms.

For example, if your business grants a customer time to pay – say 60 days – after the services or goods supplied have

Public sector productivity

In a recent announcement by the Treasury, it was announced that plans are afoot to deliver up to £1.8bn of productivity benefits by 2029.

The aim is to improve public sector productivity, including releasing police time for more frontline work.

Companies House rolls-out new powers

The first measures under the Economic Crime and Corporate Transparency Act 2023 (ECCT Act) came into force on Monday 4 March 2024.

Changes introduced include:

greater powers to query information and request supporting evidence;
stronger checks

Crack down on ‘fire and rehire’ practices

The Government has announced action to tackle the use of controversial ‘fire and rehire’ practices. In a press release issued 19 February 2024 they said:

“Action against unscrupulous employers to tackle the use of controversial ‘fire and

A new champion for small businesses appointed

An experienced entrepreneur has taken up a key role to promote the needs of small businesses to government and ensure suppliers seize the benefits of the Procurement Act.

Shirley Cooper OBE, former chair and president of the Chartered Institute of

Top-line, bottom-line?

Most small business owners are happy, from a financial point of view, if sales are in line with expectations. And there are obvious grounds for this conclusion, after all, if sales dry up there are no funds feeding into cashflow.

Unfortunately,

Importing or exporting for the first time?

If you are considering selling or buying to or from companies based outside the UK, you may well be overawed by the plethora of regulation you are required to be familiar.

As a first step, you could make use of the GOV.UK website and access HMRC’s

Full-time and part-time contracts

As an employer, the tax and employment responsibilities you have for your staff will depend on the type of contract you give them and their employment status.

Contract types include:

full-time and part-time contracts
fixed-term contracts
agency

Changes at Companies House

Companies House have issued an update on their first implementation of changes brought about by The Economic Crime and Corporate Transparency Act. We have copied in the relevant comments made in a recent blog post.

Companies House are aiming to

Does your business have a March year end date?

Leaving aside tax planning issues all businesses should be considering business planning opportunities if they presently have an accounting year end date of 31 March 2024.

For example:

Do directors need to review year end bonuses or final

Government steps to secure UK supply chains

Industry leaders have welcomed the Government’s new Critical Imports and Supply Chain Strategy, safeguarding UK supplies of critical goods such as medicines, minerals and semiconductors.

In a press release issued 17 January 2024, The Department for

A reminder to protect your business capital

The beginning of a new year is an opportune time to undertake basic business planning. One aspect that needs continuous management is to protect your business capital.

The downturn in global trade continues to be affected by the war in Ukraine, the

Be wary of rogue business rates agents

The government Valuation Office Agency have issued the following warning to business owners who may have received unprompted approaches by an agent offering to negotiate a reduction in their business rates bill.

The Valuation Office Agency (VOA) is

Season’s greetings and a prosperous 2024

As Christmas arrives the week before the calendar year-end, many of us will enjoy a week’s shut down and have time to relax and enjoy the break with our family and friends.

The break also gives us time to consider our plans, personal and business,

Investment v costs

There are two ways to consider the effects or benefits of business and personal expenditure.

The payment of rates or utility costs are an essential part of our daily expenditure, but it would be difficult to view them as an investment.

Whereas the

Company accounts filing – don’t be late…

It’s the directors’ responsibility to file their company’s accounts, and make sure they’re filed on time. It’s important to understand your role and how late filing could affect your company.

Missing your filing deadline could affect your credit

Focus on bottom line

Most dictionaries define “bottom line” as “the most important thing to consider”.

In financial circles it’s taken to mean a focus on profitability (the last line on a P&L accounts) or net worth (the bottom line of your

Enterprise Investment Scheme investee businesses

The Enterprise Investment Scheme (EIS) is designed to help smaller higher-risk trading companies to raise finance by offering a range of tax reliefs to investors who purchase new shares in those companies.

To claim investor EIS tax reliefs, the

What now, following the Autumn Statement

In some respects, the Chancellor’s predicament is deserving of a sympathetic ear; its as if he has a long journey ahead but has one foot firmly nailed to the floor.

Stagnant growth in the UK and global economy has driven up taxation in order to meet

Directors’ duties and responsibilities

To be a director, you must be over 16 and not currently disqualified.

As a director your responsibilities include:

filing your company’s annual accounts and reports or appoint an accountant to do it for you
reporting changes in you or your

£4.5bn for British manufacturing from 2025

The government has announced £4.5 billion in funding for British manufacturing to increase investment in eight sectors across the UK. The funding will be available from 2025 for five years, providing industry with longer term certainty about their

Why breakeven analysis can be illuminating

If you focus your energy on sales, there is a chance that your efforts will produce losses. Which is why we always encourage our business clients to keep their accounting records using software that automatically produces monthly management accounts

Back of an envelope

If you run a business and manage your planning by scribbling notes on the back of an envelope, you might be advised to read the contents of this article.

When the economy is vibrant, effectively when there are an abundance of buyers in your

Cash flow v supplier credit limits

In a recent article we explained how granting lengthy credit limits to customers was as good as letting them keep your money in their bank account.

In this post we describe the opposite situation, where you are granted longer terms to pay bills from

New company reporting regulation withdrawn

The Government has withdrawn draft regulations after consultation with companies raised concerns about imposing additional reporting requirements.

Instead, the Government will pursue options to reduce the burden of red tape to ensure the UK is one

Cash flow v customer credit limits

If your business grants a customer time to pay – say 30 days – after the services or goods supplied have been delivered, effectively, your money stays in their bank account for 30 days.

Further, if you have incurred costs regarding a sale, that have

Repeat business

Once you have secured the attention of a customer that has purchased their initial goods or services from you, you have completed the hard part – converted a prospect into a buying customer – so don’t be afraid to follow up with cross-sales

Recurring sales

Most business owners will appreciate the difference between one-off sales, and services that are generally described as recurring.

For example, you may sell a laptop (a one-off sale) and then bolt on a support contract (a recurring sale).

The

Government to support action against late payers

Most smaller businesses will have spent time chasing customers for payment beyond their agreed payment terms.

These demands take entrepreneurs away from their core tasks of business building and place unnecessary pressures on cashflow.

To assist,

Charity Trustees Quiz

The Charity Commission has launched the next phase of its trustee campaign which aims to increase charity trustees’ knowledge and drive a positive change in charities’ governance.

The campaign encourages trustees to check what they know about their

Help for businesses launching new AI

Organisations across the country will be able to demonstrate that their new artificial intelligence and digital innovations meet regulatory requirements so they can quickly bring them to market.

In their press release published 19 September 2023,

Changes afoot at Companies House

Due to new legislation working its way through Parliament, Companies House will be making a number of significant changes. In a recent blog post, they made the following announcement:

We’re approaching a pivotal moment in the history of Companies

Companies House fees increase?

Companies House have published information that suggests their fees may be increasing in the near future. And it’s all to do with the ECCT Bill currently passing through parliament.

To give it its full name, The Economic Crime and Corporate

Are you a company director?

There is more to being appointed a company director than accepting the title.

According to Companies House directors formal, statutory duties and responsibilities include:

filing an annual confirmation statement;
filing your company annual

The best and worst of British banks

Personal and small business current account holders were asked how likely they would be to recommend their provider to a friend, relative or other business. The survey also covered the quality of online and mobile provision, branch and overdraft

Landlords’ obligation to repair property

Landlords have a legal obligation to keep their rented property in good condition, and any gas or electrical systems must meet specified safety standards.

There are different rules for making repairs in Scotland and making repairs in Northern

Who is your ideal customer?

If there is a particular type of customer that is ideally placed to benefit from the goods or services you sell it makes sense to target any marketing activity in their direction, rather than adopting a scatter gun approach.

Take a good look at your

Amazon offers to change Marketplace rules

Amazon has offered to change the way it treats third-party sellers using its Marketplace platform in the UK, by submitting proposed commitments to the Competition and Markets Authority (CMA) in response to competition concerns it raised with the

South Yorkshire first UK Investment Zone

It was announced as part of the Spring Budget 2023 measures that the government would establish twelve Investment Zones across the UK, subject to successful proposals. South Yorkshire has now been named as the first of the UK Investment Zones.

These

What do we mean by cost of living?

A simple dictionary definition of cost of living would probably say something like:

The level of prices relating to a range of everyday items…

The problem is, the price inflation for food, or fuel for your car, or heating costs will vary. Although

Ideas for increasing your cash flow

Business owners are not exempt from the effects of inflation, but unlike waged individuals, they may have more options to increase cash flow. Here’s a few ideas you may like to consider:

If you have slow-moving or dormant stock sitting on your

How copyright protects your work

Copyright protects your work and stops others from using it without your permission.

You get copyright protection automatically – you don’t have to apply or pay a fee. There isn’t a register of copyright works in the UK.

You automatically get

Protecting intellectual property

Having the right type of intellectual property protection helps you stop people stealing or copying:

the names of your products or brands;
your inventions;
the design or look of your products; and
things you write, make or produce.

Copyright,

New powers for charities

From 14 June 2023, the latest set of changes mandated by the Charities Acts 2022 came into force.

Changes now in place include simplified legal requirements that charities must comply with before selling, transferring or leasing land, and new

New life sciences growth package announced

The Chancellor, Jeremy Hunt, has announced a new £650 million package of measures to help boost UK life sciences.

The new ‘Life Sci for Growth’ package brings together 10 different policies including £121 million to improve commercial clinical

What you can and cannot patent

The GOV.UK website offers the following guidance if you are considering a patent application.

A UK patent may help if you want to take legal action against someone who uses your invention without your permission. For example, if they sell or

Voluntary “give-aways”

In a recent post we warned of the likely loss of billing opportunities if you give away service advice just to demonstrate how informed you are.

In this post we outline when it may be appropriate to volunteer information or other free offers in

Involuntary “give-aways”

If you sell services, rather than supply goods, this usually involves you providing advice for a fee.

If your advice is sought after, the amount you can charge for your service(s) may be considerable. Which is why you should be wary of giving away

The importance of being interested

Conversation takes a turn for the worse if you have an opinion that your client has no idea how to solve their problem(s) and all they need to do is listen to your solution.

And you may be right in your interpretation of the facts, but will the

The winds of change

A new King, the possibility of a change of government next year, and signs that we may, at last, be emerging from the disruptions created by Brexit and COVID.

Meanwhile, back at helms of our small business sector firms, entrepreneurs are obliged to

More financial support for energy intensive sectors

Some businesses could see their bills slashed by as much as 20% off predicted wholesale prices, thanks to further government support launched on 26 April 2023 for sectors using high amounts of energy.

Applications have now opened for energy and

Less could be more

Is there mileage in the old adage that it is unwise to keep all your eggs in one basket?

Most businesses build an expanding customer list; each customer a separate income stream for their business.

Compare this with being employed; one employer,

Starting a new business?

One of the issues you will need to consider if you are starting a new business is the business structure. There are three commonly used forms to choose from, each with advantages and disadvantages.

A sole trader – this is the simplest way of

What is profit?

When accountants or other interested parties refer to business profits, they are likely to mean the difference between sales and costs, and more concisely, that sales exceed costs.

However, the word “profits” can prove to be a moveable

Cause for optimism?

As we have moved into the new tax year, since 6 April 2023, the March hares have had their opportunity for madness and there is just a glimmer of warmer weather ahead. And perhaps, we may even witness a growing measure of control over rising

Energy Bills Discount Scheme

The new Energy Bills Discount Scheme replaces the Energy Bill Relief Scheme which came to an end on 31 March 2023. The new scheme will offer support to eligible non-domestic energy customers, including UK businesses, the voluntary sector, for example

Powering Britain from Britain

Britain’s rollout of clean, affordable, home-grown energy is moving full speed ahead, with the UK government offering £205 million in its latest renewables auction, boosting energy security, growing our economy and powering more of Britain from

Solvency continues to be a pressing issue

The recent rise in inflation and interest rates underlines the fact that the UK and world economies are still suffering from the effects of the continuing war in Ukraine.

Accordingly, if you have managed to retain profits in your business this

Keep talking

During recent disruptions to trade, ascribed to Brexit, COVID, the war in Ukraine or other global economic challenges, we have become used to online meetings and facetime calls to keep in touch with business associates, staff and friends.

Now that

New UK Data Protection rules

The Data Protection and Digital Information Bill was first introduced last Summer and paused in September 2022 so ministers could engage in a co-design process with business leaders and data experts – ensuring that the new regime built on the UK’s

Why credit control is vital

The ultimate financial objective of most trading companies is to convert their supply of goods and services into cash – deposits in their bank account.

However, when goods are sold on credit, and you give customers time to pay, there is a delay in

Incentive to invest

Next week, 15 March, the Chancellor will deliver his first Spring Budget. It will provide an opportunity to cushion companies from the effects of the Corporation Tax (CT) increase to 25% and the withdrawal of the 130% Super-Deduction; both timed for

Breaking even – checking the numbers

In previous newsfeeds we have described how you can calculate the level of turnover you need to create in order to meet all your costs whether they be fixed costs (rent, rates etc.,) or variable costs (goods you need to buy to convert into goods you

Business rates list closing soon

Business rates are charged on most non-domestic premises, including most commercial properties such as shops, offices, pubs, warehouses and factories. Some properties are eligible for discounts from the local council on their business rates. This is

Protecting your business capital

All business owners, but predominantly retailers, leisure and entertainment trades, will have seen their hard-won capital all but exhausted by the needs to meet fixed costs when income generation has been restricted or eliminated by lock-down

New business Energy Bills Discount Scheme

The new business Energy Bills Discount Scheme will replace the current Energy Bill Relief Scheme which is coming to an end on 31 March 2023. The new scheme will offer support to eligible non-domestic energy customers, including UK businesses, the

Ways you can count on us…

Leaving politics to one side, how can we deal with the current pressures on businesses? Rising costs, reducing revenues as the cost-of-living issues impact activity, increasing taxes – Corporation Tax will include a main rate of 25% from the 1 April

New Energy Bills Discount Scheme

The government has published details of a new Energy Bills Discount Scheme which will replace the current Energy Bill Relief Scheme that comes to an end on 31 March 2023. The new scheme will offer support until 31 March 2024, to eligible non-domestic

Which way to turn

Inflation and recession are cruel task-masters.

If you provide goods or services that can be readily sourced from alternative suppliers, and at a lower cost, trying to beef-up your sales prices will likely result in lost income as your customers go

UK regains control over business subsidies

A new system to regulate the award of subsidies to business came into force on Wednesday 4 January 2023. It should provide a boost to businesses across the country and empower public authorities to deliver support to businesses in a quicker, fairer,

Companies with 31 December year-end date

Have you considered any last-minute planning options if your company has a 31 December 2022 year-end date?

It is not too late to consider your options. For example:

Expenditure on qualifying plant or other equipment may qualify for the

Flexible subsidies for businesses from 2023

The Department for Business, Energy and Industrial Strategy has announced that the new UK subsidy regime will come fully into force from 4 January 2023 when the Subsidy Control Act 2022 takes effect.

The new subsidy regime enables public authorities

Small Business rate relief

Business rates are charged on most non-domestic premises, including most commercial properties such as shops, offices, pubs, warehouses and factories. Some properties are eligible for discounts from the local council on their business rates. This is

Creditor bankruptcy and liquidation cost changes

The Insolvency Service is a government agency that provides services to those affected by financial distress or failure. The Insolvency Service operates as an executive agency of the Department of Business, Energy and Industrial Strategy (BEIS).

Energy Bill Relief Scheme launched

The Business Secretary Jacob Rees-Mogg has announced the launch of the new Energy Bill Relief Scheme to help cut energy bills in the non-domestic sector. The new scheme will cover all non-domestic energy customers, including UK businesses, the

Sponsoring a charity

There are special rules in place when a limited company gives to charity. This can include Corporation Tax relief for qualifying donations made to registered charities or community amateur sports clubs (CASC) as including capital allowances for

Using the Annual Investment Allowance

The Annual Investment Allowance (AIA) is a generous tax relief that was first introduced in 2008. The AIA allows for the total amount of qualifying expenditure on plant and machinery to be deducted from profits before tax.

The AIA can be claimed by

New grant opportunities for farmers

New grant opportunities to help farmers have been announced. The new grants will help farmers boost their businesses and add extra value to their produce. The Adding Value grant opened for applications on 9 June 2022 and will close at midnight on 21

Business Start Up Loans

Financing a new Start Up business is one of the most crucial aspects of helping a new venture to succeed. Obtaining finance for a new business can be an arduous process. For example, borrowing money from a mainstream bank may not be an option or only

Director banned for Bounce Back Loan abuse

The Bounce Back Loans scheme was launched in May 2020 to provide financial support to businesses across the UK that were losing revenue and cashflow as a result of the COVID-19 pandemic. The scheme allowed qualifying small businesses to borrow

Last year to claim super-deduction

A reminder that the super-deduction, offering 130% first-year tax relief, is available to companies until March 2023. The super-deduction is designed to help companies finance expansion in the wake of the coronavirus pandemic and to drive

Agent authorisation re SEISS grants

Self-employed individuals (including partnerships) who have overclaimed the Self-Employed Income Support Scheme (SEISS) must pay back the overpayment to HMRC. The rules for repayment state that you must tell HMRC if you were not eligible to have

Exchange of joint interests

HMRC’s internal manuals consider the reliefs available where there is an exchange of joint interests in land.

The manuals state that:

The exchange of interests in land which are jointly owned by two or more persons constitutes a disposal by each

Business tax cuts from April 2022

A number of business tax cuts came into effect from April 2022. This includes an increase in the Employment Allowance from £4,000 to £5,000.

The allowance enables eligible employers to reduce their National Insurance liability. An employer can claim

Resolving commercial rent debts

A new law that seeks to resolve certain remaining commercial rent debts accrued during the pandemic received Royal Assent on 24 March 2022. The new law introduces a legally binding arbitration process to resolve certain outstanding commercial rent

Extended loss relief carry-back

A reminder that the temporary extension to the eligible carry back period for trading losses applies for company accounting periods ending between 1 April 2020 and 31 March 2022 and for tax years 2020-21 and 2021-22 for unincorporated businesses.

Check large suppliers payment status

The government has been working for a number of years to combat the problem of large businesses abusing their position by making late payments to small businesses. There is a legal requirement (introduced in April 2017) for large businesses to report

Government nudges local authorities

The Secretary of State for Business, Energy & Industrial Strategy has written a letter to local authorities in England urging them to help support businesses in the hospitality and leisure sectors as efficiently as possible.

Just before

Omicron funding delivered to local authorities

Just before the Christmas break, the Chancellor announced a new support package for some businesses most affected by the Omicron variant.

The biggest single measure was the re-introduction of one-off grants of up to £6,000 for businesses in the

New £1bn support package announced

The Chancellor, Rishi Sunak announced a new £1bn support package for businesses most impacted by the highly transmissible Omicron variant that is sweeping across the UK. The biggest single measure is the re-introduction of one-off grants of up to

Teesside Freeport open for business

The first of the English Freeports, Teesside, opened operations on 19 November 2021, and is expected to be followed shortly by Thames and Humber. The Teesside Freeport will be at the forefront of local low carbon sector creating thousands of jobs in

Reporting COVID support scheme grants to HMRC

Most COVID support scheme grants are treated as taxable income in the same way as other taxable receipts and need to be reported to HMRC. The grants are treated as income where the business is within the scope of either Income Tax or Corporation Tax.

Autumn Budget 2021 – Recovery Loan Scheme

The Recovery Loan Scheme was launched on 6 April 2021. The scheme currently allows businesses of any size to access loans and other kinds of finance between £1,000 and £10 million. The scheme was originally meant to close on 31 December 2021 but the

Autumn Budget 2021 – Creative industry tax reliefs

The sunset clause for the Museum and Galleries Exhibition Tax Relief (MGETR) was supposed to come into force on 31 March 2022. As part of the Autumn Budget measures, the Chancellor announced that the relief will be extended for another two years to

Recovery Loan Scheme

The new Recovery Loan Scheme was launched on 6 April 2021. The new scheme allows businesses of any size to access loans and other kinds of finance between £25,000 and £10 million. The scheme will remain open until 31 December 2021 (subject to

Treasury directive re fourth SEISS grant

HM Treasury has published a further Treasury Direction made under the Coronavirus Act 2020, ss. 71 and 76, which modifies and extends the effect of the Self-Employment Income Support Scheme (SEISS). The new Direction mainly deals with the expansion

Repaying overclaimed SEISS grants

Self-employed individuals (including partnerships) who have overclaimed the Self Employed Income Support

New support for High Streets and sea-side towns

As lockdown measures begin to be eased, a new package of support measures to help high streets and

£1.5bn boost for rates relief

A new Business Rates relief fund will provide a £1.5 billion tranche of support to businesses outside the

Film and TV restart scheme

The government’s £500 million scheme to kickstart film and television production entitled the Film and TV

Have you claimed too much from furlough scheme?

HMRC’s guidance makes it clear that any business that makes an error in making a Coronavirus Job

What would a business vaccine aim to prevent?

Now we are getting used to the idea that the various vaccines will provide some defence against COVID

Lending to fund losses

One of the Chancellors key announcements in the Budget last week was to replace the government guaranteed

Breaking even – a moveable feast

In our previous newsfeeds we have described how you can calculate the level of turnover you need to

Spring Budget 2021 – CJRS and SEISS schemes extended

The Coronavirus Job Retention Scheme (CJRS) commonly known as the furlough scheme will be extended until

Spring Budget 2021 – Government backed loan schemes

The deadline for applications for all the government-backed loan schemes including the Bounce Back Loan

Capital or debt?

What is the difference between capital and debt, and why is the distinction important?

One important

Claiming Self-Employed Income Support Scheme grants

Under the third Self-Employed Income Support Scheme (SEISS) grant, claimants received up to 80% of

Emerging from lockdown

The Prime Minister has set out the government’s objectives for easing lockdown restrictions.

If the

What is overtrading?

A reminder that traders who buy and sell goods – wholesalers or retailers – need to be wary of the

New Christmas grant for pubs

The Prime Minister, Boris Johnson, has announced an additional one-off £1,000 Christmas grant for wet-led

Double entry demystified

Most business owners will know the difference between a profit statement and a balance sheet.

Both are

EU exit – did you read this letter?

The Secretary of State for Business, Energy and Industrial Strategy, Alok Sharma has written a letter to

Treasury directive re third SEISS grant

HM Treasury has published a further Treasury Direction made under the Coronavirus Act 2020, ss. 71 and

Supply chains, a predictive approach for 2021

One of the more positive aspects – perhaps the only positive aspect – of COVID disruption has been the

Coping with the new EU reality

It is apparent that our final exit from the EU, 1 January 2021, will disrupt the movement of goods, back

Reasonable excuses for making a late furlough claim

HMRC’s guidance on making claims through the Coronavirus Job Retention Scheme was updated on 19 November

Register for Northern Ireland Trader Support Service

The Northern Ireland Trader Support Service was launched on 28 September 2020 to support businesses

Why compound interest is important

Many of us are building a pension fund, a portfolio of shares or deposits with our bank or building

Claiming the Self-Employed Income Support for first time?

The Government has confirmed that the Self-Employed Income Support Scheme (SEISS) grant extension will

Bounce Back loans still available

The Bounce Back Loans scheme was launched in May 2020 to provide financial support to businesses across

HM Treasury instructions re CJRS

An updated Treasury Direction under sections 71 and 76 of the Coronavirus Act 2020 concerning the

Do you need a customs agent?

If your business acquires goods or sells goods to the EU, and you have no import/export trade with non-EU

Those who shout loudest

Many of the business disruption grants that have become available in the last few weeks are being

New Furlough Scheme guidance published

The detailed Furlough Scheme rules were updated 10 November 2020.

To use the extended scheme – to 31

Barter your way through COVID disruption

While we wait for the magic-bullets that promise to reduce the impact of COVID – vaccines etc – should we