Monthly Archives: July 2023

Delays in Making Tax Digital

Strong doubts have been raised over the current Making Tax Digital (MTD) timetable. HMRC launched its flagship digitisation scheme in 2015-16, intending to move tax systems and records to a modern management platform by 2020. The aim was to maximise tax revenue, make sustainable cost savings and improve customer service by modernising systems for VAT, […]

Creative solutions to raise finance as interest rates remain high

The current high interest environment can pose expensive challenges for businesses using traditional financing methods. Bank loans still make sense for some companies; however, there are plenty of alternative finance options. Being open to innovation and thinking creatively can help businesses access funding while minimising the impact of high interest rates in their financial endeavours. […]

Online hub launched to help limited company directors

A one-stop information portal has been set up to help directors make crucial business decisions. The director information hub was launched by the Insolvency Service, providing advice and support regarding statutory obligations and potential financial pitfalls. Who is it aimed at? The hub hosts guidance and information on a range of business themes and is […]

Rip-off fuel retailers to be monitored as Government responds to overcharging

Motorists are being put in the driving seat to find the best fuel prices after a watchdog found many were being overcharged at the pumps. A new fuel price reporting scheme will allow consumers to compare prices in real time in any area of the UK, as the Government changes the law, forcing retailers to […]

Fears over business insolvency drop considerably\’

As the outlook for the UK economy remains uncertain, UK business fears over potential insolvency appear to be easing. While government data shows insolvencies are at a four-year high, research suggests that these figures are reaching their peak. Wealth management and professional services group Evelyn Partners found that just under one in three businesses (32 […]

Deadline to top-up National Insurance contributions extended

In certain circumstances it can be beneficial to make voluntary National Insurance Contributions (NICs) to increase your entitlement to benefits, including the State or New State Pension. Usually, HMRC allows you to pay voluntary contributions for the past 6 tax years. The deadline is 5 April each year. However, there is currently an opportunity for […]