Why do businesses get de-banked? MP’s on the Treasury Committee have recently looked at an issue that has been creeping up on some SME’s recently and causing real problems – where your bank shuts your account without your instruction and without warning. The committee have discovered that this has occurred 130,000 times over…
What could the changes to Audit exemption limits mean for you? The government has recently announced changes to company law that will see company size thresholds increased by 50%. This is hoped to reduce complexity and additional burden for companies. These changes are intended to be in place for year ends commencing on or…
Spring Budget 2024, a Budget to lower taxes and achieve higher growth. The Chancellor has announced that there is good news for the economy, with the Office for Budget Responsibility (OBR) confirming that inflation is currently at 4% and is likely to reduce below the Governments target of 2% in the next few months.…
Following the increase in use of cloud accounting software’s like Xero, QuickBooks and Sage over the past few years, businesses have never been better positioned to look to outsource their accounting function. For all businesses, getting the accounting function working efficiently can be challenging, as you will need potentially different people with different skills: someone…
From 1 October 2021, to be eligible to apply for public sector contracts over £5m pa, suppliers must have Net Zero Carbon Reduction Plans in place. These will be required to demonstrate a commitment to achieving Net Zero by 2050 in the UK: Taking Account of Carbon Reduction Plans in the Procurement of Major Government…
As 1-Jan-21 draws ever nearer what changes should your SME business prepare to adopt ready for Brexit: Exporting Goods to the EU Despatches are renamed exports. Apply for an EORI number (which will look something like: GB123456789123). Check whether what you sell is a restricted good that requires an export licence. Check whether there are…
UK businesses can only use the EU VAT Refund System until 11 pm on 31 March 2021. This means that claims for a refund of VAT incurred in other EU Member States for the year ended 31 December 2020 must be submitted by then. Prior to Brexit the deadline was 30 September following the end…
HMRC have implemented measures to assist businesses that are registered importers who pay VAT and Duty at the time of import and are facing financial difficulties as a direct result of Coronavirus. What to do if you’re a Duty deferment account holder You can contact HMRC for approval to enter into an extended…
After reading a recent article in British Farmer & Grower magazine, it reminded me that although we as a country are going through a major pandemic right now, there is life after this. But what will life be like on Farms of the future with the majority of the seasonal workers having come from the…
The Department for International Trade is hosting “Get ready for Brexit” workshops across the East region, each running from 11:30 – 13:30 followed by a networking lunch. Please see the link below for dates and venues. http://x.email.ukti.gov.uk/ats/msg.aspx?sg1=6a523609b267f7129747b384f8f21e3e