What’s next if you want to sell your business?
30/11/23. It doesn’t matter whether you are five months or five years out from sale, planning is crucial to ensure you can achieve the best outcome to suit both your business and personal objectives.
Topical updates for small and medium businesses
We publish articles on all aspects of what it takes to run a successful business, with a focus on what is topical and relevant to small and medium-sized businesses.
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The importance of maintaining statutory registers
27/11/2023. Every company is required by law to keep specified registers and records which set out information on the company in respect of its members, officers and charges (the “Statutory Registers”).
What’s next to plan the Succession of the business
16/11/2023. As a business leader, you may be thinking about your succession options to ensure your business remains in safe hands when you decide to exit. With a range of options available from family succession, transition to employees or a management buyout there are a number of areas to consider.
What’s next to Invest in the future of my business
02/11/2023. Great people make great companies. That business maxim is as old as business itself and in the current economy, it has even more weight.
Cash flow management – too little or too much?
31/10/2023. Cash is important to any business. Too little and the business puts itself into financial difficulties and concerns around overtrading, too much and there is the risk that the business is not seizing opportunities in the marketplace or making the best use of that cash.
What’s next to Invest in the future of my business
19/10/2023. In our 2023 C-suite barometer, 30 % of executives of privately owned business surveyed highlighted that the emergence of new technologies will have the greatest impact on their business this year and 29% identified that a new sustainability strategy was a strategic priority in the next 3-5 years.
What’s next to Invest in the future of my business
05/10/2023. In our 2023 C-suite barometer 43 % of executives of privately owned business surveyed highlighted that economic trends including inflation and higher cost of living will have a big impact over the next 12 months. But how does the current market impact your business if you are looking to finance growth, and what options are available?
Consumer sector report 2023
Mature markets are experiencing a shift in consumer demand patterns as consumers move away from traditional products and services towards those consistent with environmental, social, and governance goals. Our study ‘Sustainable, smart, and synchronised’ explains how consumer companies can harness ESG and digital transformation to thrive in this changing environment.
How will Basis Period Reform impact my business?
02/10/2023. From the tax year 2023/24 the way HMRC tax self-employed and partnership profits will change. This change does not affect those in business with an accounting year ending between 31 March and 5 April.
HMRC enquiries & investigations: best practices
02/10/2023. HMRC continue to increase the volume of tax investigations, and we explore below the best ways to navigate being one of the rapidly increasing number of taxpayers subject to these enquiries.
What’s next to grow your business?
21/09/2023. Business growth can sound simple, but if approached incorrectly, it won’t deliver fruitful results and cause additional challenges.
How to avoid National Minimum Wage breaches
The Low Pay Commission (LPC) estimates that around 1.6 million workers were being paid at or below the minimum wage in April 2022 – that’s 5% of all UK workers. However, with the minimum wage rates increasing and pay differentials reducing, combined with the complexities of the minimum wage legislation, it’s not just those low paying roles at risk anymore.
NIC reclaim opportunity – can my business claim?
Following a recent tribunal case involving HMRC, it was found that car allowances can be treated as relevant motoring expenditure. This means many businesses could now be due a refund of NIC from HMRC for previous tax years.
HMRC enquiries & investigations - what to expect
07/09/2023. With HMRC enquiries on the rise, we look at what an enquiry is, why they arise, and what happens at the end of the process.
HMRC enquiries & investigations and its penalties
07/09/2023. HMRC enquiries can, in some circumstances, give rise to penalties. We take a look at the position below.
National Minimum Wage – It’s not child’s play
The childcare sector has been hitting the headlines over the past months. Examples include the government’s plans to extend extra childcare during term time [1] and more recently an article highlighting the rapid growth of private equity investment into the sector and the associated risks of what some cite as “profiteering and failure” [2].
Fix the problems before you sell
25/08/2023. You’re selling your company. Is purchaser tax due diligence likely to create any problems for you? It would certainly be better to know in advance.
Navigating tax on your business sale
23/08/2023. The UK tax code is so complex that if you ask a simple question of it you will almost certainly not get a simple answer back. So, let’s try to navigate our way around this not-so-simple answer, although given the complexities of tax, what follows will not be able to cover all the possible answers to our question.
To individuals who have assets overseas
11/08/2023. Have you recently received correspondence from HMRC asking about your overseas assets, income or gains? If so, our specialist tax advisors have provided guidance on how best to proceed.
Critical KPIs to monitor your cash
27/07/2023. Cash flow ratios are particularly important for the financial analysis of the business.
Top tips to improve and manage your cash flow
27/07/2023. Managing your cash flow is fundamental to all businesses, read our top tips for improving cash flow within your business.
Preparing for the R&D tax relief changes
11/07/2023. Good news for companies claiming under the Research and Development Expenditure Credit (‘RDEC’) regime, bad news for companies claiming under the Small & Medium Enterprise (‘SME’) regime.
Companies House - extending your filing deadline
05/07/2023. During the Covid pandemic, eligible companies were afforded an automatic 3 month extension to their filing deadlines at Companies House. This automatic extension then ceased and normal service resumed albeit companies could still choose to apply for a filing extension and, if eligible and citing Covid specifically as a reason, the 3 month filing extension would be automatically granted.
HMRC National Minimum Wage enforcement campaign
01/06/2023. We are aware that HMRC are currently targeting a number of employers on NMW compliance processes.
What is a P11D and the key areas to consider
26/05/2023. What is a P11D and when is the deadline? A P11D is a form submitted to HMRC where employers report any taxable benefits and expenses provided to their employees or directors that are not included within their salary. The deadline for P11D reporting for the 2022/23 tax year is 6 July 2023.
Management buyout and the benefits
26/05/2023. Having built up a successful business, you may decide it’s time to move on and explore the options you have for exiting the business.
Remuneration...what is the best way to pay myself?
26/05/2023. We are often asked by the director and shareholders of companies, ‘what is the best way to pay myself? It is not a straightforward question to answer and there is no one size fits all approach.
Tax and reward strategies in a changing landscape
24/05/2023. As tax is the one certainty all businesses face, it remains at the forefront of negotiation and debate, driving decisions on policy, trade, strategy and business transformation.
Is your brand still relevant?
23/05/2023. A brand is a long term investment and a key pillar to your business development and marketing activities. While companies have worked to reinvent and update their operations to stay competitive, there is a risk of neglecting to update their brands.
New penalties within the VAT eco-system
18/05/2023. The newly introduced penalties have been in effect since 1 January 2023, these changes are set to impact those SME businesses who are not prepared.
How can your sales team increase their performance
16/05/2023. In difficult economic environment many business owners are considering how they can get the most out of their sales teams to deliver growth or even just to sustain their current market position. Our Management consulting team have outlined 3 areas of focus to increase sales performance.
Van, or not a van, that is the question
16/05/2023. Over the past few years, HMRC’s attention has been focused on the pandemic and as a result HMRC have had little time to review other key areas. As the admin burden of the pandemic lessens, attention is starting to return to day-to-day compliance matters, one key area being “vehicle classification” for benefit-in-kind purposes.
How does brand value impact your business?
11/05/2023. A brand is so much more than just your logo, it’s about your proposition, the quality, consistency and experience you offer customers and still so much more. A well-crafted brand image can increase sales, improve the effectiveness of your marketing budget, grow your business, and make more profit but crucially for every business owner, brand can increase the value of your business, when...
Is now the right time to exit my business?
05/05/2023. The first quarter of 2023 has seen a slowdown in deal activity after record levels in 2021 and early 2022, and yet I can’t recall a period when I have been having more conversations with owner-managers who are reflecting on what to do next and whether now is the right time to transact. Why is this and what is driving owner-managers to consider their options?
Why Management Information matters
02/05/2023. Why management information is crucial to make business decisions, how do ensure I have robust and reliable information on how my business is performing?
Transitioning your business to the next generation
28/04/2023. As a business leader, you may be thinking about your retirement, and in that case, who will take over the family business. Thinking about what’s next means looking at the company at an operations, management, and ownership level.
Publicising profitability
28/04/2023. As a small business owner, there has been a long-standing ability to file reduced information on your business at Companies House. The Economic Crime and Corporate Transparency Bill is going to change this.
Your responsibility regarding HMRC Tax codes
26/04/2023. Not many employed people worry about their tax coding notices unless they find that too much tax is being deducted from their wages.
Private equity investment and the benefits
24/04/2023. Private equity investment focuses on securing capital that can be used to facilitate your growth plans or de-risk your investment by extracting capital from the business.
Transition your business to your employees
18/04/2023. Employee ownership offers a combination of potential tax reliefs, and its flexibility means that it can suit a wide range of circumstances and personal preferences.
What is debt finance and what are the benefits?
18/04/2023. Debt can sound daunting for business owners but actually can be a cost-efficient way of obtaining the finance required in the short to medium term to realise growth and expansion plans.
Separating company and personal finances
17/04/2023. I am a Director and shareholder of my own limited company. Isn’t the company money and my personal money effectively the same thing?
Why is UK inflation so high?
April 2023. The global rise in inflation began in mid-2021 as economies re-opened following the COVID pandemic. Damaged supply chains were the prime issue, as well as China’s continued zero-COVID policy since the country’s cheap exports had been a prime deflationary factor in recent decades. Inflation was turbo-charged in February last year as Russia’s invasion of Ukraine caused energy prices to skyrocket.
Global consumer resilience vs a global recession
April 2023. Even with persistent inflation and lingering economic fears, U.S. consumers (in particular) have surprised many with their desire to spend. This unexpected consumer resilience is helping to push the chance of an economic slowdown further away.
How will AI change finance?
April 2023. March was a huge month for developments in artificial intelligence (AI). GPT-4’s impressive performance on coding tasks and standardized exams raised many questions about what jobs would be automated. In finance at least, we believe that humans plus AI will beat AI.
Capital reduction and its benefits
06/04/2023. Capital reduction is the process by which a company reduces its shareholder’s equity through the repurchase and cancellation of shares or a reduction in statutory reserves. A capital reduction can enable a company to reduce its negative position, create distributable reserves or return capital to the shareholders.
National Insurance contributions and State Pension
06/04/2023. Our tax experts have summarised the importance of checking your National Insurance record and how this could impact your state pension.
2024/25 Tax Rates: UK Updates
Welcome to our detailed guide on the 2024/25 tax rates in the United Kingdom. This article provides the latest information on various tax rates and allowances, crucial for both individuals and business owners effective financial planning. Understanding these rates is essential in navigating the complexities of the UK tax system. Let's delve into the specifics of the 2024/25 tax rates!
What happens if my company falls into QIPs?
24/03/2023. As your company’s profits increase, you may fall into the Quarterly Instalment Payments regime. This article provides a useful summary of QIPs, their rules, and what to consider.
Spring Budget 2023: impacts and analysis
A Budget for Growth.
Unpacking the Spring Budget 2023
On Wednesday 15 March 2023 Chancellor Jeremy Hunt set out his ‘Budget for Growth’, with key takeaways including childcare, pensions and keeping the energy price cap.
Pension Salary Sacrifice and New NMW Rates
24/02/2023. The National Minimum and National Living Wage (collectively referred to as “NMW”) rates are increasing from 1 April 2023. At its highest, this is an increase of 10.9% (for 21–22-year-olds), and 9.7% across the National Living Wage, and all other age rates.
Corporation tax repayment through loss carry back
23/02/2023.As we move into 2023 in a challenging economic landscape many businesses are facing cash flow pressures. By reviewing your corporate tax affairs there could be government incentives in place to support your business’s cashflow. In this article we will discuss making a claim for the accelerated carry back of losses to generate a corporation tax repayment.
What is a trade sale and what are the benefits?
24/04/2023. If you wish to exit your business, there are a range of options available. You may consider selling your business to a third-party trade buyer in a trade sale.
Preparing your business for sale
24/01/2023. Selling a business is often the most important decision many owners will take. Having invested considerable time, money, energy and emotion into a business, ensuring maximum return on that investment is extremely important.
Adding resilience to your business
27/09/2022. To remain sustainable, competitive and drive value for your shareholders in these everchanging times, organisations must put mechanisms in place to build strategies that both recognise things will not always go in the direction they expected and plan for the inevitable disruptions.
Pay & reward during a cost of living crisis
23/09/2022. The cost of living and energy crisis as well as a winter of potential discontent continues to loom large. Despite recent Government measures.
Company cars for SME employees
08/09/2022. With the significant increase in taxation on company vehicles over the last few decades, many drivers no longer see cars as much of a “perk”, but simply as a tool necessary for the proper performance of their job.
Maximise business value
07/09/2022. Experiencing COVID, Brexit, the war in Ukraine, double digit inflation, astronomical energy costs and a looming recession, there have been and will continue to be significant challenges for business owners to overcome.
Car ownership for SME owners
27/07/2022. Cars mean different things to different people. For some they are simply a tool for work and home, for others, they can be a passion project or a personal statement.
Investment schemes available to your business
13/12/2021. There are many ways in which a start-up business, and indeed growing businesses, can raise finance and one of the ways which have been popular in recent years is using the Enterprise Investment Scheme (“EIS”).
The next round of funding requirements for SMEs
10/12/2021. Now that the business and the economy has moved beyond the pandemic, with funds available from banks being accessible through Government Covid supported lending, where do SME’s look for their next round of funding requirements?
Small and Medium Sized Businesses
Whether you are starting out, scaling up, well established, or considering a potential exit, our specialist SME team can support you and your business.
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Meet our team of professional advisors dedicated to small and medium-sized businesses.