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Chancellor confirms Spring Budget 2017 date

Posted by Alastair Mcdonald on Tuesday, January 3, 2017
Chancellor of the Exchequer, Philip Hammond has announced that the Government will publish its next and final Spring Budget on Wednesday 8th March 2017.

This will be the last Budget to take place in the Spring, with Hammond confirming in his Autumn Statement 2016 that Budgets will be delivered in the Autumn from 2017 onwards.

Hammond said in November: “No other major economy makes hundreds of tax changes twice a year, and neither should we.

“So the spring Budget in a few months will be the f...
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Late corporation tax payments on the increase

Posted by Alastair Mcdonald on Tuesday, January 3, 2017
Businesses across the UK owe £1.8bn in late corporation tax payments, amounting to a 15% increase year-on-year, according to new research by Funding Options.

The latest figures indicate overdue corporation tax owed to HM Revenue & Customs (HMRC) stood at £1.52bn in 2014, increasing to £1.59bn in 2015 before hitting £1.8bn in 2016.

Conrad Ford, CEO, Funding Options, believes the figures suggest a growing strain on cash flow for SMEs.

“We have seen an increasing number of companies come to u...
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More young Brits looking to set up online businesses in 2017

Posted by Alastair Mcdonald on Tuesday, January 3, 2017
Half of young Brits aged between 25-35 are planning to transform their hobby and passion into an online business, according to a new survey from Wix.com.

The weighted responses from 2,000 people found that, irrespective of age group, more than two-fifths (44.1%) of all Brits surveyed would prefer to run their own online business than work for a company.

More than a quarter of respondents believe they could earn up to £48,000 a year by quitting their day job to run their own business online. So...
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Understanding your tax payments

Posted by Alastair Mcdonald on Tuesday, January 3, 2017

You may be among the thousands of small businesses and sole traders who have filed your tax return well ahead of the 31st January deadline, but do you know when your payments are due?

There is more to paying HM Revenue & Customs (HMRC) than arranging a bank transfer. You should make sure you’re clear on what’s due when - and in this article, we’ll also explain why. 

If you are self-employed or have income that is not taxed before you receive it, such as rental income, you may have a tax b...


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Over half-a-million university students want to start their own business

Posted by Alastair Mcdonald on Saturday, September 3, 2016
More than half-a-million (518,372) university students are either running or plan to run their own business alongside their courses, according to research from Santander Universities.
That’s a 38 per cent increase on the 375,000 students that were involved in entrepreneurship at some stage of their university degrees in 2015. Meanwhile, the combined turnover of university businesses has also soared from £478m to £913m in the last 12 months, amounting to £13,213 a year per business.
Technol...
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