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Why are businesses outsourcing their accounting and financial functions?

A new survey published by Financial Director has revealed that the primary objective of adopting an outsourced accounting or financial function is to reduce costs.The study showed that 70 per cent of chief financial officers (CFOs) had brought in the services of outsourced accounting services...

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How can the audit process aid business performance?

Many businesses assume that an audit is only really needed where they are required to conduct one by law, or where they are asked to carry one out by a third party – perhaps as part of due diligence during a sale. In reality, an audit...

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Don’t get dragged into a higher rate of tax – plan now!

New research by the House of Commons Library has revealed that an additional 750,000 people in London and the South East soon face paying a higher rate of income tax following a freeze to personal allowances.The new data has revealed that inflation and the ongoing...

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Enterprise investment rebounds strongly after being hit by pandemic

There has been a fall in investment of around 12 per cent in the Enterprise Investment Scheme (EIS), largely caused by the effects of the pandemic.But that figure was slightly offset by a surge in the sister programme, the Seed Enterprise Investment Scheme (SEIS), which...

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2023 Corporation Tax Rise – Follow our steps to manage your tax bill

From April 2023 a new system for Corporation Tax will be introduced that will see the top rate of tax rise to 25 per cent.Despite the headline figure increasing, not every business will pay this higher rate, as the Government is introducing a new tapered...

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Every business has goals, but how can you achieve them?

Without being motivated by business goals, it could be easy for the business to become stagnant.However, simply outlining business goals is not going to instantly ensure the success of your business – it is essential to have a strategy in place.For this reason, we have...

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You might owe Capital Gains Tax on your property sale….

The rules around Capital Gains Tax and property sales are continually changing and many homeowners and their advisers may not be aware that they owe tax on the disposal of a property. Typically, when a main home is sold no CGT is due. However, in some...

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Less than a year left to make use of the super-deduction tax relief

Incorporated businesses now have less than 12 months remaining to make full use of the super-deduction before this temporary tax relief ends on 31 March 2023.This capital allowance scheme, which was launched in 2021, allows businesses investing in qualifying plant and machinery assets to benefit...

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Feeling overwhelmed? Have you tried outsourcing?

With everything that is going on in the world, not least the ongoing changes to taxation and accounting rules as well as inflation, it is easy to feel a little overwhelmed.A recent survey of 1,000 workers found that 77 per cent say they have experienced...

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Starting a new business?  Ensure your accounting systems work for you with our seven steps

According to the latest data, the number of new businesses launched in the UK is skyrocketing. If the latest data is to be believed, then the number of new companies established in 2021 increased by around 14 per cent. In fact, according to a separate study...

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National Insurance thresholds to increase from July 2022

Just as businesses up and down the UK prepare for a 1.25 percentage point increase to National Insurance (NI) rates in April as part of the new Health and Social Care Levy the Chancellor has announced amendments to the NI thresholds to soften the blow...

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How the Spring Statement will affect businesses and individuals

The Chancellor’s Spring Statement has attracted a mixed reaction, with some tax changes going ahead, some promised later and a hoped for change to VAT in the hospitality sector not appearing.Against a troubling backdrop of rising inflation, (prices rose by 6.2 per cent in the...

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How can your business boost its revenue?

Raising revenue is often one of the key objectives for small and medium-sized businesses (SMEs), however it can be a difficult process to navigate.The last two years have had a damaging impact on UK businesses, with closures due to coronavirus restrictions and a lack of...

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Cloud accounting vs bridging software – New study reveals best approach for businesses

A new study has found that VAT-registered businesses that use fully compliant Making Tax Digital (MTD) software make fewer errors and spend less time on compliance and administration than those using only bridging software.According to the research from HM Revenue & Customs (HMRC), the ongoing...

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Are you managing and paying for overtime correctly?

There have been new calls for employers to review their payment policies and payroll procedures after research suggested that employees provided more than £27 billion of free labour last year.The bold figure is the amount of unpaid overtime that UK employees did in 2021 that...

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