Staff Parties and Employee Gifts
The cost of a staff party or other annual entertainment is allowed as a deduction for tax purposes. However, the cost is only deductible if it relates to employees and their guests, which would include directors in the case of … Continue reading
Business Records Checks
HMRC re-launched its Business Record Check (BRC) initiative on 1 November 2012.
UK business has £4.7bn in hidden debt
None of us like debt so it came as quite a shock to me that an estimated £4.7 billion in unpaid debt is left behind by closed down businesses in the UK each year.
New PAYE system could create more pressures for SMEs
The Institute of Chartered Accountants in England and Wales (ICAEW) has warned that the new PAYE system, Real Time Information (RTI) will create new problems for hard pressed SMEs.
Taxman targets Rag trade and Alcohol industry
I hear that specialist tax affairs teams have been launched by HM Revenue & Customs in November.
Small businesses struggling to raise finance
Small firms are struggling to raise the money that they need to expand, according to a survey by business leaders. The Federation of Small Businesses (FSB) found that 42% of those who applied for a loan said they were turned … Continue reading
Lloyds Banking Group committed to keep free banking
Despite calls for the banking industry to start charging for all bank accounts, Lloyds Banking has rejected the idea, saying that they have “absolutely no plans” to start charging for basic current accounts and that they are committed to keeping … Continue reading
SMEs disregard Government Economic forecasts in their planning processes
Despite the continued uncertainty of UK economy, the majority of UK small business owners have revealed that official government economic projections play no part in the majority of their planning and decision-making.
