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What accounting tasks should every business prioritise?

Despite understanding the importance of keeping accurate accounts, a lot of firms still fail to prioritise these tasks. Sometimes, firms still (more…)

Nearly 900,000 businesses not ready for Making Tax Digital changes

A third of all VAT-registered firms are not ready to file their returns digitally, a survey suggests.

From April 2019, all (more…)

More R&D tax relief being claimed by UK firms than ever before

There has been a significant increase in the level of claims being made for tax relief on research and development projects by (more…)

Hammond announces additional funding for workplace training

Chancellor of the Exchequer Phillip Hammond has pledged extra support for a range of training and skills initiatives.

During his speech at (more…)

What makes a good accountant for medical practices?

The field of accountancy is a vast and varied one, encompassing many different types of accountants. Each type needs to work hard to tailor their services to meet the specific needs of their clients.

This is certainly true (more…)

What is the VAT threshold for small business?

Compared to many other countries, the UK has a very generous VAT registration threshold. For small business owners, this is a big plus.

It enables them to (more…)

Government develops new laws to help small businesses secure funding

The UK government is in the process of passing new regulations that will outlaw unfair contracts.

The changes will (more…)

How to choose the right contractor accountant

When you work as a contractor, choosing the right accountant is essential. Failure to do so can cost you a lot of money and easily get you into trouble with the tax authorities.

Fortunately, working out (more…)

What is a specialist medical accountant?

The accountancy sector is an interesting one. It is certainly vast, with many different types of accountants out there. Some of them you will be very familiar with, while others you may not have ever (more…)

UK SMEs still confident despite Brexit uncertainty

The latest research has shown that more than three quarters (77%) of SMEs in the UK are feeling confident over the future.

This research was carried out by CitySprint, a same-day courier service provider. It is the sixth time the company has interviewed 1,000 SME managers for its Collaborate UK survey.

The results of the survey showed that business confidence is gradually growing. In 2016, only 29% of those who answered CitySprint’s questions said that they felt confident about the future. By 2017, it was 46%. This year, 77% were feeling positive.

Firms which had been in operation for under three years, were more upbeat than the older ones were. Only 34% of the decision-makers in firms that were 15 to 20 years old were feeling confident about the future,

When asked about Brexit, 30% said they saw it as the main obstacle to growing their business over the coming 12 months. Despite this, many, especially the smallest firms, had yet to do anything to prepare for Brexit.

Interestingly, 39% of participants said that Brexit was currently having positive impacts. With the help of their team and accountants, Birkenhead firms and those in the Wirral, which narrowly voted in favour of remaining in the EU, are actively growing their activities in Europe.

In total, 41% were seeking out new customers on the European continent. While 20% were expanding into Asia and 25% into North America. Despite their concerns about Brexit, most SMEs were keen to grow internationally.

Patrick Gallagher, the chief executive of CitySprint Group, pointed out that more collaboration could help firms to achieve their goals faster. He said:

“Working together they will be able to weather the economic highs and lows and reach their ambitious growth plans – both at home and abroad.”

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