Monthly Archives: October 2023

Navigating the challenges of a high-interest rate environment can be tough for businesses, but it's not impossible. While rising interest rates can pose hurdles to financing and operational costs, there are strategies companies can employ to secure the capital they need and maintain financial stability. Review existing debt Start by evaluating your current debt structure.…

The HM treasury recently announced that the national minimum wage is set to rise in 2024 to at least £11 an hour. In addition the age threshold is going to fall from 23 to 21 years old from 1st April 2024. Employers need to ensure that arrangements are made and that the effected employees rates…

Alux.com A desire to take the future into their own hands. Refusing to wait passively for opportunity to come their way. They don’t settle for standard or conventional path. Make deliberate choices. Create their own path – not let life just happen. A need for authentic freedom. What type of freedom? Own decisions. Own way.…

The Government has withdrawn draft regulations for company reporting after consultation with businesses raised concerns about imposing additional requirements. Instead, the Government will pursue options to reduce the burden of red tape to ensure the UK is one of the best places in the world to do business. Draft regulations published in July would have…

If you have ever stopped to ask yourself, why does the tax year start on April 6, you are definitely not alone. The idea that the tax year doesn’t begin until we are a quarter of the way into the year is a somewhat perplexing concept for many. Accountants and taxpayers alike often wonder why…

When a bank hits the headlines, it isn’t usually for good reasons. Such is the case for Metro Bank which has found itself the talk of the town. Share prices took a massive dip amid concerns for its future, although the news has improved with a £925m investment package preventing it from collapsing. But, while…

HM Revenue and Customs (HMRC) has revamped its VAT registration process, prioritising digital applications for businesses and agents. Starting from November 13, this change aims to streamline the registration procedure, making it quicker, easier and more secure. HMRC is urging businesses and agents to embrace the digital approach for VAT registration. Unless they fall under…

If you have ever stopped to ask yourself, why does the tax year start on April 6, you are definitely not alone. The idea that the tax year doesn’t begin until we are a quarter of the way into the year is a somewhat perplexing concept for many. Accountants and taxpayers alike often wonder why…

KPMG has been given a record sanction of £30 million following the conclusion of the financial reporting council (FRC) investigation into the audit of Carillion. KPMG have co-operated and made admissions to the investigation and the fine has been reduced by 30% to reflect this admission and co-operation. The big four firm has been severely…

Tougher measures to address late payments to small businesses have been announced by the Government. In 2022, SMEs were owed, on average, an estimated £22,000 in late payments. This can slow down growth with many companies spending disproportionate time chasing payments that can lead to cash flow problems. Small Business Minister Kevin Hollinrake said: “Small…