Small and medium-sized enterprises (SMEs) are often seen as the backbone of the economy, contributing significantly to job creation and innovation. As the world becomes increasingly interconnected, more SMEs are considering international expansion as a growth strategy. While this presents exciting opportunities, it also comes with its own set of challenges. We’ll explore how SMEs can expand internationally while managing risks and maximising potential
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Choosing the appropriate structure for your business is one of the first and most important decisions you will make. It affects everything from your tax obligations to the level of personal liability you will face, and even how you can raise funds. If you are thinking of starting a business, or restructuring an existing business, it is worth taking a closer look at the options available to ensure you make the best choice for your business.
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Understanding your business’s value is more than a number on a balance sheet – it’s a crucial indicator of your company’s health and future potential. Whether considering a sale, seeking investment or planning strategic moves, a precise valuation provides robust information.

With this spotlight, we aim to guide you through the essentials of business valuation, helping you realise your company’s worth in clear terms.
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In today’s economic landscape, where financial acumen plays a pivotal role in the sustainability and growth of any business, the importance of effectively managing business expenses cannot be overstated.
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According to data from Companies House, 222,068 new companies were set up in the UK within the first 12 weeks of 2023, a year-on-year rise of 8.2%. The question remains: “how unique are these businesses?”

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Businesses at any stage in their life cycle can benefit heavily from creating and implementing a business plan.

Not only is a business plan there to map out your goals and aspirations, but also to identify any financial risks and operational challenges you may encounter.

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When a business incurs costs, such as salary payments or stationary procurement, it can usually fully deduct them as expenses from its taxable profits, reducing the tax due. However, when it buys assets for operational purposes, things are not quite so straightforward.

A business exit strategy is a plan for what will happen when you want to leave your business.
A lot of people think of an exit strategy as a plan to guard against disaster or something that has to be carried out right away after its conception.

The last year has been challenging for all of us, let alone business owners who’ve had to claim emergency support and battled hard to stay afloat.

Business structures are essential for tax purposes.

If you’re looking to join the 4.3 million people in the UK who made the jump into self-employment, you might be wondering how to start your new business.

As a business owner, you will find that few things in your line of work are as precious as your time – time that would be better spent doing something other than accounting.

Many people come to us asking for help with tasks that usually result in time slipping through their fingers, because of their often onerous nature to the layman.

If you’re self-employed, your business will rack up various running costs throughout 2021/22. Some of those you’re able to deduct as allowable expenses.

By deducting these allowable expenses as part of calculating your business’s taxable profits, it’s possible for us to reduce your income tax bill in the process.

The UK has left the EU, and for British exporters, that presents both opportunity and uncertainty.
While the new trade agreement places no tariffs or quotas on goods traded between the UK and EU from 1 January 2021, it may come with additional costs and bureaucracy as the UK is no longer part of the single market and customs union.

Last March, one of the headline-grabbing measures announced in what will be the only Budget speech of 2020 surrounded what we knew as entrepreneurs’ relief.
The relief was designed to be an incentive for entrepreneurs to start a new business by reducing the amount of capital gains tax payable when the time came to dispose of (or sell) certain business assets, where conditions are met.

Companies House will be reformed to clamp down on fraud and money laundering, with directors unable to be appointed until their identity has been verified.

Whether you’re making exit plans or you want to give confidence to investors, knowing the value of your business is a vital step. From the inside, it might be hard to say what that value is. You’ve put long hours of hard work into building your business from the ground up, but what does that mean to a buyer or investor in monetary terms?

Since the Budget in March, businesses have seen a stream of different support schemes and policies announced to help them manage the financial impacts of the coronavirus lockdown.

When Chancellor Rishi Sunak stood in the House of Commons again on 8 July, it was in the context of the gradual reopening of the economy, with several lockdown restrictions having been lowered on 4 July.

With massive pressure on owner-managers, how should they protect their mental health? What are the warning signs something is wrong? And what practical techniques can be used to protect the mental health of small business owners? Dave Howell reports

It’s hard to believe Rishi Sunak has only been the Chancellor since Valentine’s Day, given what he’s had to deal with in a matter of weeks since.

You’ve got a business idea, you’ve got the skills, the concept,
the motivation and maybe even someone that’s keen to pay for
your services, but where do you start? What will you call your
business? What business structure will suit it best?

It may be that as your business grows you run through several
different structures, but most firms will set up one way and
remain just that, even as their turnover grows or falls.

So you’ve got a business idea, and you think it might be a runner.
But then again, just as you’ve geared yourself up to commit, all
sorts of midnight worries start to creep in.

Is now the time? Are people spending money? What about the
sluggish housing market? What about Brexit? And the state of
the local high street – does anyone even go there anymore?

Fraud costs the UK around £190 billion a year, with businesses bearing almost three quarters – £140bn – of those losses.

Accountants, as a breed, are fans of efficiency. We tend to appreciate optimised systems and abhor waste, whether it’s time, effort or resources being frittered away.
The concept of efficiency as we know it today is a product of the industrial revolution. That’s when engineers and manufacturers became obsessed with squeezing out maximum profit by the smart use of new machinery and the automation of processes.

Click here to read the full article.

It has been a challenging and eventful three years for UK businesses with a series of high-profile incidents highlighting how situations can change suddenly and often without warning.
From the continued pressure of uncertainty relating to Brexit, terrorism, fire, extreme weather and cyber-attacks, how would your business cope if it was affected by something similar?

Read the full article here.

As the clock continues to tick down to the 29 March 2019, when the UK is scheduled to officially leave the EU at 11pm, there is still much uncertainty around what Brexit will mean for UK business. (more…)

My client has a member of staff with long-established care responsibilities and wants to know how they can support the individual?
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Despite year-on-year tax rises, company cars remain a popular benefit. While the tax cost of expensive high-emission cars can be eye-watering, by choosing carefully it’s possible to enjoy the convenience that comes with a company car for a relatively low tax cost. So, as the new tax year gathers steam, what’s changed for 2018/19?

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