Every entrepreneur could use a bit of extra support, and artificial intelligence (AI) is an impactful and effective way to get it. Despite some of the talk we’ve heard lately, AI isn’t going to be running businesses single-handedly anytime soon. In this article, we talk about how AI can save you time as you build your business. Here’s what we cover: How generative AI tools can help entrepreneurs The very human benefits of AI for entrepreneurs How to save time with AI tools Creating content Providing customer service Carrying out market research Arranging appointments and meetings Analysing ..read more

The culture of your company has a profound effect on how successful it is. Not easily understood and often overlooked, this essential aspect of running a successful business is becoming increasingly important. More people are working from home (WFH) where they might feel a bit more disconnected and undervalued. Concerns about the cost of living, rising prices and the worldwide economic situation can hit company morale. An organisation that appears to recognise these worries and provides a supportive environment where people feel valued is one that is more likely to thrive, even in these diffic ..read more

People are any business’s greatest asset and that’s why employee development is so important. And it’s becoming more so. Since the great resignation, as it’s sometimes known, staff are even less likely to be loyal to their employer. With tightening labour markets, they know they’re in a good position to find a new job. So why are they leaving? There are a number of reasons, but career development is high up the list. According to one recent survey, nearly two thirds (60%) said their reason for wanting to leave their current job was to seek better career prospects. Research by the MIT Sloan Sch ..read more

Accountants and bookkeepers were back in force for Digital Accountancy Show 2024 in London. With more than 3,000 attendees, 100 speakers, and 160 vendors, it was the largest the event has ever been. As anticipated, the integration of artificial intelligence (AI) in accounting processes was a crucial part of the discussions happening on the stalls and in speaker sessions given its rapidly expanding role in the industry. Speakers at the event highlighted how AI could positively impact the accounting profession by streamlining routine tasks. This shift promises to free up valuable time, allowing ..read more

The start of a new tax year presents your practice with an opportunity to set the stage for success. From embracing automation and optimising workflows to staying abreast of legislation changes, there are a number of ways to position your practice for its most successful year yet. In this article, we’ll explore key steps and insights to help you lay a solid foundation for the 2024/25 tax year and empower your team to deliver exceptional service and drive growth. Here’s what we cover: New legislation changes for the 2024/25 tax year National Insurance contributions cut Dividend tax allowance ..read more

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