The future of high street banks remains uncertain, with self-service becoming increasingly commonplace and customers increasingly becoming digitally-led. However, despite the myriad new market entrants in this sector, banks still have a distinct advantage thanks to long-term relationships built with tens of millions of customers and, the formation of vast internal data pools as a result.
Being self employed and running your own business is tough, but rewarding. Success often comes with sacrifices, such as time with the family, holidays and weekends. However it now seems that it may also be your ability to buy your own home that is also under threat.
If you’re a business owner, especially one just starting out, then understanding VAT can seem a little overwhelming. But it needn’t be and this article will help to demystify VAT, and explain why it’s often best practice to register your company for VAT.
In his Summer Budget of 2015, the Chancellor of the Exchequer announced certain changes to the Seed Enterprise Investment Scheme (SEIS), Enterprise Investment Scheme (EIS) and Venture Capital Trust (VCT) schemes.
George Osborne’s budget announcements delivered many benefits for small businesses. However he has added complexity – and therefore costs – for small and medium-sized enterprises (SMEs).
When implementing invoice automation processes at many mid-sized businesses, you can often witness a ‘pantomime’ effect taking place! Invoicing is in a rather muddled state. “Oh no it’s not!” you might shout. “Oh yes it is! is my response.
The Office of National Statistics has just published new figures showing 11.4% growth in online sales in the UK, compared to June 2014. Meanwhile, research carried out by RetailMeNot with the Centre for Retail Research predicted that ecommerce is expected to be worth a staggering £156.67bn in 2015 by the end of this year.
Late payments are the scourge of businesses throughout the UK and are killing the inherent entrepreneurial spirit of Britain. The recent Budget didn’t even address this issue, despite the planned formation of the Enterprise Bill from the start of government.
With the new Late Payment Regulation due to come into effect in April 2016, finance directors across the UK may already be feeling rife with trepidation. Following on from the European Late Payment Directive (2011), the new regulation will require UK businesses to publish information about their payment practices twice a year. While it may not entirely eliminate late payments nor term extensions, it will serve to create a ‘name and shame’ game that could, ultimately, come to bear quite heavily on a company’s reputation.
Does your Year End threaten the sustainability of your business? Choosing the wrong Year End could mean disaster.
Our latest research tells us that more small businesses in need of funding sought alternative finance rather than a bank overdraft in the last 12 months, and only marginally more sought a bank loan.
The summer months are upon us, which means you may be more inclined to think about whether you can take a break in the sun rather than getting your annual tax return sorted.