Duncan Stannett

Although showing a slight improvement from March, the number of company insolvencies in April of this year was more than double the number from April 2021. This shows just how important it is to get advice sooner rather than later if your company is experiencing problems. The majority of insolvencies were creditors’ voluntary liquidations (CVLs):…

New data from HMRC reveals there are now over six million people paying higher or additional rate tax in the UK. Source: HMRC. In recent years, the end of June has been the time for HMRC to issue its annual statistics on taxpayer numbers. This series is more up to date than some of HMRC’s…

Owning and running a business with a multi-generational workforce can be complicated. It’s possible that in your business, you could have four or five different generations working. From the traditionalists to baby boomers, through Gen X and millennials, to Gen Z. It is important in order to recruit and retain the best talent that you…

Many businesses have unidentified risks that ultimately affect the company value when the business is sold. Minimising risk and increasing business value isn’t something that can be tackled overnight. You need a long-term plan that works through the lifecycle of your business to tackle these risks. If you haven’t yet identified all the areas of risk in…

For anyone starting a new role in your company, first impressions matter. Last month we wrote a blog about recruitment in this competitive market. This month, we are focusing on why employment contracts, induction and training are important. These three things can make your team feel valued, help you get the best out of your employees…

With strikes and cancellations affecting trains, the underground and flights, employers need to decide how they are going to treat employees who cannot get into work or are stuck overseas. Below we explain how to help with managing employees transport challenges. Commuting Although inconvenient, there is generally plenty of notice when it comes to train,…

Many businesses can hit a profit plateau at different stages of their growth and business lifecycle. As a business owner, working out how to break through a profit plateau and increase profits ongoing can be tough. Expecting constant growth and growing profit margins continually may not be sustainable. For business owners working out in their…

The widening scope of Making Tax Digital (MTD) is highlighting several issues, including the limited availability of the MTD for income tax pilot scheme, and low awareness of the recent expansion of MTD for VAT to all VAT registered businesses. Staying on top of the latest developments in Making Tax Digital is important for all businesses. Pilot…

HMRC has clarified that, with one exception, a CGT property return must be filed even if the disposal has already been reported on a self assessment return. The government introduced the requirement for individuals to report disposals of UK residential property and pay the capital gains tax (CGT) arising within 60 (previously 30) days of…

The disposal of a private residence is exempt from capital gains tax (CGT) if used as a main residence throughout the period of ownership. A recent case heard in the First-Tier Tribunal has come up with a very favourable interpretation of what this means. The facts In the case heard by the Tribunal: A married…

While many businesses have bounced back during the beginning of 2022, rising inflation, high energy costs, the invasion of Ukraine and little help for UK businesses in the Spring Statement has meant that businesses will begin to really feel the pinch in the coming months. The ONS reported* from their business survey (BICS) that the two main…

Small business: double hit from rising prices Rising prices hurt just about everyone, but small business owners face a double hit: the impact on their own spending power, but also less revenue coming in from cash-strapped customers. The volume of retail sales fell 1.4% in March, with spending on food dropping by 1.1%. These are…