Last week, the Bank of England (BOE) raised interest rates to 2.25%, the highest level since 2008. They believe the UK economy has shrunk by 0.1% between July and September and, for the seventh time in a row, has made the increase to interest rates in an attempt to halt soaring prices. Inflation is at its highest since the 1980s and prices are expected to rise further in October, with inflation peaking at just under 11%.

Delays in payments can be very frustrating, especially in sectors like the construction industry. Whether you’re a small trader such as a plumber or electrician or a larger building company taking on contract work, prompt payment is good for cash flow and allows you to manage your business more efficiently.

The ultimate aim of every serious business person is to build a company that has value, so that it can be sold or transferred, allowing the entrepreneur to exit gracefully and profitably.

The 70-year reign of Queen Elizabeth II was marked by her sense of duty and her determination to dedicate her life to her throne and to her people. For many of us, she became a constant in a rapidly changing world. King Charles lll paid tribute to the reign of the late Queen, “unequalled in its duration, its dedication and its devotion”, as he was formally declared the nation’s new Monarch.

Just over a decade ago, online ecommerce stores accounted for around 5% of revenues in retail. Now online stores reap around 20% of retail sales and that figure is set to grow even more over the next 10 years.

The Information Commissioner’s Office (ICO) has written a guide to help small businesses deal with complaints about how they’ve used people’s information. If you are a small charity, small group or club, or small organisation, you will also find it useful.

With the economic chaos just now, this may seem a strange time to be thinking about financial stability but if we want to provide those we love with security then we should always be thinking long term.

The reality for many small businesses and households has taken a turn for the worse recently as prices continue to surge, particularly energy. So, what’s on offer from the new Prime Minister?

“Umbrella” companies are often set up by employment agencies to supply workers to end user clients. Many of these are compliant with the tax rules, but some use contrived arrangements that claim to allow agency workers and contractors to pay less tax on their earnings. HMRC have successfully challenged many of these arrangements.

Businesses of any size and type must register for Plastic Packaging Tax if they expect to manufacture or import 10 or more tonnes of plastic packaging in the next 30 days, or if they have manufactured or imported 10 or more tonnes of plastic packaging since 1 April 2022.

If you use Royal Mail to deliver your goods, you should be aware of the planned industrial action that is due to take place

With the constant news surrounding the energy crisis (and waiting for a new Prime Minister to see what the government will do about it), soaring interest rates and rising inflation, it's difficult not to worry and lose sight of what’s important – the health and welfare of you and your loved ones.

High electricity using businesses, like steel and paper mills, could see further relief under new proposals to help subsidise their electricity costs

Innovate UK Knowledge Transfer Network (KTN) are offering manufacturing businesses an opportunity to register for individual one-to-one meetings to explore the uses of artificial intelligence (AI) within their operations and learn how to access Knowledge Transfer Partnership (KTP) funding to address their challenges.

There is a new two-day extended reality (XR) conference on 28 and 29 September 2022 in Sheffield.

The National Cyber Security Centre (NCSC) has urged UK organisations to prepare for an extended period of heightened threat in relation to the Russia-Ukraine war.

HMRC has announced their suggested reimbursement rates for employees using a company car for private travel. The suggested rates from 1 September 2022 are summarised in the table below. Where there has been a change, the rate for the previous quarter is shown in brackets. Remember that the fuel benefit does not apply if all private fuel is fully reimbursed by the employee/director

If your business imports goods into the UK, then you need to move to the Customs Declaration Service (CDS) now. If you do not, you will not be able to import goods into the UK from 1 October 2022.

This is a question many of our clients want an answer to! The truth is, it depends on a range of factors and any valuation is only helpful as a guide for planning forward. The ultimate value of a business is the price a willing buyer is prepared to pay for it.

The Department for Business, Energy & Industrial Strategy (BEIS) has launched a call for submissions to the 2022 Hydrogen Business Model and Net Zero Hydrogen Fund Electrolytic Allocation Round.