Archive for the ‘Business Advice’ Category

Clipping the wings of phoenix companies

Posted on: April 10th, 2018 by Sarah Curzon No Comments

A guide to measures which discourage ‘phoenixing’ of companies.

Companies can fail for several reasons and, for the most part, these aren’t the result of wrongdoing by the directors. For this reason, it’s perfectly legal to start a new company after an old one has become insolvent.

However, there are a number of rules that surround carrying on a similar business through a new company after the original company has gone into insolvency.

Known as ‘phoenixing’, this practice transfers the business, but not the debts, of the insolvent company to a new company.

But what is the problem with phoenixing, and what does the law say about it? (more…)

Small firms not ready for data protection shake-up

Posted on: April 10th, 2018 by Sarah Case No Comments

Small businesses are worryingly underprepared with little over a month to go before new data protection regulations are introduced.

The Federation of Small Businesses (FSB) claims 33% of SMEs have not started preparing for the EU-wide General Data Protection Regulation, which takes effect on 25 May 2018.

A similar number (35%) have only recently started preparing for it, with 52% of those approaching the Information Commissioner’s Office (ICO) for advice. (more…)

From sole trader to a limited company

Posted on: April 9th, 2018 by Sarah Curzon No Comments

What to expect from incorporating your business.

With a new tax year upon us, many sole traders will be reviewing their business structure and considering whether it’s worth switching to a limited company.

There’s no denying that incorporating a business proved popular in 2017, with Companies House reporting a 7% rise in the number of actively trading companies – bringing the UK total to 1.9 million. (more…)

Small businesses face skills gaps

Posted on: January 10th, 2018 by Sarah Case No Comments

Small businesses are experiencing skills shortages in both their workforce and their recruitment processes, causing concerns for future productivity.

The Federation of Small Businesses (FSB) surveyed 1,203 small business owners and found that 46% lack a fully proficient workforce.

Additionally, almost a third (30%) of business owners who have recruited in the last 12 months reported facing skills shortages. (more…)

Number of businesses soars to 5.7m

Posted on: January 10th, 2018 by Sarah Curzon No Comments

The number of private sector businesses in the UK hit a record high of 5.7 million at the start of 2017, according to government figures.

Annual statistics from the Department for Business, Industry, Energy and Strategy showed a year-on-year rise of 197,000, compared to the same time in 2016.

The number of firms in 2017 is also 2.2 million higher than at the start of the millennium, with 4.5 million businesses in operation back in the year 2000. (more…)

Brexit: The rise and rise of the ‘staycation’

Posted on: July 11th, 2016 by Matthew Thomas No Comments

Matt ThomasOn Thursday 23 June the UK voted to leave the European Union.  What does this mean for the country’s tourist industry when we consider that two thirds of visitors to the UK and nearly three quarters of business visitors to the UK are from EU Countries.

We have already seen a fall in the value of the pound; it will now buy you fewer Euros or Dollars.  When holidaying abroad the cost of accommodation will have risen and spending money will not go as far.  If people find foreign holidays significantly more expensive and with more and more of us choosing to book holidays late we may choose to stay and holiday at home in the UK.

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Brexit: a review for the agricultural sector

Posted on: July 11th, 2016 by Sarah Curzon No Comments

Sarah CurzonThe UK electorate has made a decision to leave the EU, after very vigorous campaigning which included all sorts of predictions and warnings on the outcome of the vote from both sides of the political spectrum, as well as our international allies and trading partners. This result will likely have a profound economic effect, but right or wrong, it is a resounding victory for democracy.

What does the Brexit mean for UK farmers?

In the short term there has been some uncertainty. Financial markets have a profound dislike of uncertainty and this has already been shown by stock and currency markets worldwide, although to some extent that will reflect surprise at the reversal of previous expectations, rather than underlying fears for the UK economy. The slide in sterling is, however, starting to be reflected in an increase in the UK value of internationally traded crops, so perhaps there may be better selling opportunities in the weeks leading up to harvest.

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Brexit concerns for UK tech and innovation

Posted on: July 8th, 2016 by Mike Fenwick No Comments

Mike FenwickIn an age where disruption, innovation and adaptability are seen as everyday challenges in one of the UKs flagship sectors, is Brexit really a cause for concern for the tech sector, or is it already primed for such challenges?

It’s no secret that the majority of tech firms wanted a ‘Bremain’ result to carry forward the momentum for what has been a meteoric rise over the last six years. Just prior to the EU Referendum, The UK’s technology trade association, techUK, surveyed 277 technology business leaders and found that 70% were in favour of staying in the EU, with only 15% supporting a Brexit.

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The impact of Brexit upon charities

Posted on: July 7th, 2016 by Sarah Case No Comments

Sarah CaseThe UK exit from the EU has caused the third sector short-term uncertainty.  We would hope that there is a silver lining to this and in looking beyond the immediate concerns, we should see a level of opportunity for the Third Sector in which charities across the UK will be present, as always, to bring people together and tackle the challenges that will undoubtedly occur in the medium-long term.

We will have to wait and see, however, as the vote to leave could impact upon tax breaks received by charities, funding issues for those who receive EU monies and we are likely to see a demand on services increase.

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Brexit and VAT

Posted on: July 7th, 2016 by Liz Mounfield No Comments

In the recent referendum the UK, including Wales, voted to leave the EU. While nothing much is expected to happen in the short term regarding VAT, once the Government has triggered Article 50 of the Lisbon Treaty to formally confirm that we are leaving negotiations will begin in earnest to agree the terms and process of our exit. It is said that negotiations are likely to take place over a 2-year period but possibly they may take more or less time than that, we just don’t know yet.

During the period of negotiation and until they are concluded, the UK is still part of the EU and accordingly we would expect that it must continue to be bound by EU VAT legislation, European Court Judgements on VAT and also reporting requirements, including VAT returns, ESL returns for both goods and services and Intrastat returns.

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