The new tax year is a prompt for small businesses and the self-employed to get their finances in order – if they haven’t done already – and to ensure they’re aware of new changes to tax rules. You also need to make sure you’re aware of new legislation that affects tax, payroll, business affairs and employment. Not complying with new legislation and tax regulations could lay you open to investigation by the tax authorities. HMRC tax investigations into individuals and small businesses increased from 232,000 in 2021/22 to 248,000 in 2022/23, according to recent research. But it’s also an opportu ..read more

Paperwork over people. That’s still the reality for most HR leaders, despite 78% of HR leaders wishing their work was less focused on admin, and more on strategy and people-centric activities. With many HR leaders telling us a typical week looks like 19 hours of admin, working over 45 hours, and spending almost half the week on processes, admin, or paperwork, the move to being fully strategic is still a work-in-progress. However, 79% of HR professionals say more HR processes in their company could be automated to improve efficiencies, and 3 in 4 HR leaders believe automation and AI would free ..read more

The VAT turnover threshold is the sales limit that determines whether a business is required to register for VAT with HMRC. It’s vital for accountants and small businesses alike to understand the VAT registration rules, so small an medium-sized enterprises (SMEs) can avoid incurring hefty penalties for late VAT registration. In this article, we dive into the VAT registration threshold changes, so you understand how they affect SMEs, and what to do if these changes affect you. Here’s what we cover: Table of contents What is VAT? What is the VAT registration threshold? Why has the VAT threshold ..read more

Details of the government’s Growth Guarantee Scheme have been eagerly awaited by many small and medium-sized enterprises (SMEs) around the UK. Brexit, the pandemic and geopolitical tensions are continuing to hit smaller businesses, according to a report by the Enterprise Research Centre. “Support available to small and medium-sized enterprises is… currently insufficient and too fragmented,” say the report’s authors. “In particular, SMEs need more investment and support on exports, innovation, achieving net zero, and supporting employees with their mental health.” The Growth Guarantee Scheme ..read more

A Professional Employer Organisation (PEO) supplies businesses with full-service outsourced HR functions. But unlike other external HR services, a PEO becomes the employer of record for their client’s employees, also known as a co-employment arrangement. Under this arrangement, they can perform all HR administrative and strategic services if required. A business could use a Professional Employer Organisation to supplement or entirely replace an HR department either on a temporary or permanent basis (although they tend to be longer-term commitments). The goal of a Professional Employer Organisa ..read more

What’s the outlook for the future of chief financial officers? As a CFO, do you believe you have the capabilities to manoeuvre your enterprise through the challenges to come? Have you considered how you can use AI and automation to bolster those capabilities? In this article, we highlight the top AI and automation tools you need to win as a modern CFO. Here’s what we cover: Table of contents AI and automation: Game-changing tech for CFOs Financial process automation AI-driven analytics Generative AI tools for CFOs Final thoughts: AI and automation mean more time for strategy AI and automati ..read more

If your business needs to purchase goods or services, you need a way to track those orders. Using a purchase order system will allow you to do this. Not sure what a purchase order (PO) is and how a system that manages them will benefit your business? This article will help you answer those queries. Here’s what we cover: What is a purchase order? How can a purchase order system help me? 6 benefits of using a purchase order system Final thoughts Download your free small business toolkit: a guide, business plan template and cash flow forecast template so you can manage your business effectively ..read more

Despite facing relentless judgment, Camilla Barnard and her team at Rude Health were on a mission to shake up the health food industry. With a vision to make their product look as desirable as it tasted, they rejected the usual brown palette for their branding and instead reflected their fun-spirited and tasty products with vibrantly coloured packaging. But breaking the status quo saw them bombarded with critics claiming her branding was “too sexy and extreme”. However, their cheeky approach soon paid off, and they quickly became a customer favourite, propelling their product range to more tha ..read more

Recurring payments are on the rise, and they provide both businesses and consumers with a range of advantages. The market was worth $13.2tn (£10.3tn) in 2023, and is expected to rise to $15.4tn (£12tn) in 2027, representing an increase of 17%, according to recent research, This is partly driven by the growth of subscription services, which research published by Visa suggests, will grow to $1.5tn (£1.2tn) by 2025. However, some businesses will find them more relevant and useful than others and managing correctly them successfully is essential. In this article, we talk about recurring payments a ..read more

The government has proclaimed 2024 “the year of the SME”. And while its Spring Budget brings some welcome help to small and medium-sized enterprises (SME), it also brings changes that need a swift response. In this article, we talk about the measures announced by the Chancellor and what they’ll mean for employers and your employees, as well as impacts for those who are self-employed or are limited company owners. Here’s what we cover: Table of contents National Insurance cuts for workers and self-employed High-Income Child Benefit Charge threshold change VAT registration threshold increase Ex ..read more