If you’re new to business, year-end accounts may seem like a daunting prospect. But with the right preparation, advice and approach, you will have nothing to worry about.
If you manage a business and record its expenses and revenue, you need to find a recording system that suits you. While cash basis accounting has its benefits, accrual accounting can be a more powerful tool for operating your business. So what is the difference?
Companies House has urged businesses to file their annual accounts earlier than usual to avoid “last-minute” disruption caused by the coronavirus.
Businesses in the UK are more optimistic about their post-coronavirus prospects than in almost any other country in Europe, a major study has revealed.
The Institute of Chartered Accountants in England and Wales (ICAEW) has raised concerns over proposals to alter the level of tax relief on pensions contributions for low-earners, arguing that any changes could burden businesses.
The Government has announced that it has extended the ban on commercial evictions until the end of 2020, meaning businesses cannot be evicted by landlords for getting behind on rent payments.
Payroll could become an even more pivotal area for businesses, with the latest research finding that the coronavirus pandemic has made payroll a ‘key concern’ for employers.
According to the latest research, UK businesses anticipate that it will take around 18 months to fully recover from the disruption of the Coronavirus pandemic and associated social distancing rules.
UK businesses are owed more than £133 billion since the lockdown measures began in March, with the average business waiting on £148,917 for work that was completed before the lockdown.
Businesses who have deferred VAT payments until the end of June 2020 should continue to file Making Tax Digital (MTD) returns as normal, the regulator has confirmed.