The Business : News

Chancellor's "game-changing" decisions on business rates, late payments and self-employed tax welcomed by small firms

Responding to the Chancellor's Autumn Statement, Tina McKenzie, Policy Chair at the Federation of Small Businesses (FSB), said: "Jeremy Hunt has today taken very welcome action on late payments, small businesses' rates, and self-employed taxation.

CBI responds to latest GDP figures

Ben Jones, Lead Economist, said: "Forecasts for the UK economy have generally been edging down recently and the latest growth figures lived up to this gloomier view of near-term prospects.

R3 Southern & Thames Valley: Highest Q3 corporate insolvencies for two decades

A 'perfect storm of economic issues' has led to the highest Q3 corporate insolvency figures in more than two decades, says R3, the UK's insolvency and restructuring trade body.

Small firms hope late payment announcement the start of something more fundamental to come

Responding to the Government's announcement at the Conservative Party Conference of its plans to tackle late payment, Martin McTague, National Chair of the Federation of Small Businesses (FSB) said:

Interest rate plateau must be permanent, say small firms

Following the decision by the Bank of England to hold the base rate at 5.25%, Federation of Small Businesses (FSB) National Chair Martin McTague said: "Small firms will be profoundly grateful to hear that the relentless upward march of the base rate has finally paused. Now the hope is that the peak has been reached and passed, and that - in due course - rates begin to fall.

SOUNDING THE ALARM: Nick Woolfe, R&D Tax Partner at top 10 accountancy firm Azets

Nearly half of R&D tax relief claims invalid since August submission change

Companies in the UK risk falling foul of a new regulation involving the submission of tax relief claims for research and development, it emerged today.

Garry Lee, chair of R3s Southern and Thames Valley region

Business warning over latest insolvency statistics

R3 Southern and Thames Valley: Corporate insolvencies remain above pre-pandemic levels Despite a fall in corporate insolvency levels between June and July 2023, numbers are still well above pre-pandemic figures, says R3, the UK's insolvency and restructuring trade body.

UK economy leaps 0.5% in June, beating expectations

Jonathan Moyes, Head of Investment Research, Wealth Club "It was pleasing to see the UK produce a more upbeat 0.5% for June, this was much stronger than consensus forecasts, which called for around 0.2% growth. On a quarterly basis, the economy remains in the slow lane, with GDP up 0.2%. This is the sixth quarter in a row where growth was 0.2% or less.

What do the latest changes in Self Assessment taxation mean to you?

HMRC has recently announced several "simplifications" to reduce the number of taxpayers that are asked to file a Self Assessment Tax Return. There are clear benefits for HMRC from taking taxpayers out of Self Assessment, but what do these changes mean for the individuals affected, and their professional advisors? Will it become easier to determine and pay the correct tax liability?

Bank of England will STILL RAISE interest rates despite cooling inflation: deVere CEO

The Bank of England will raise interest rates again next month despite UK inflation cooling, predicts the CEO of one of the world's largest independent financial advisory, asset management and fintech organisations. The warning from deVere Group's Nigel Green comes as fresh figures reveal that UK inflation fell to 7.9% in June, from 8.7% the month before.

Becky Harris, Director of Strategic Finance and Operations at MSP Capital

Poole-based MSP Capital boosts development funding capacity with £100 million facility

Property finance specialist MSP Capital has agreed a £100 million development funding facility with a single investment partner.

Small firms still hammered by inflation even as dozenth base rate rise hits

Following the decision by the Bank of England to increase the base rate from 4.25% to 4.5%, Federation of Small Businesses (FSB) National Chair Martin McTague said: "Small firms will be especially worried to see the base rate rise once more, following unexpectedly persistent levels of inflation, and will once again be hoping that today's rise represents an apex.

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