The way small companies file their annual accounts is set to change from April 2028. To follow is an overview of what’s coming and what it could mean for your business. Profit and loss accounts – what’s changing? One of the biggest changes is that small companies will need to file profit and loss accounts […]
Companies House has announced a security issue with their WebFiling service. Andy King, Chief Executive of Companies House, has shared that authorised users of the WebFiling service may have been able to access and change other company’s details. The breach was not available to the general public, and only logged in users would have been […]
In a bid to help boost the economy the Government has revealed details of its Small Business Plan. The consultation, which aims to back SMEs and support growth, has been designed to help deliver £320 billion into the UK economy by 2030. So what’s been announced, and how will the plans support SMEs? Employer National […]
HMRC has announced that it is abandoning its plans for Making Tax Digital for Corporation Tax (MTD for CT). The news came in the tax authority’s recent Transformation Roadmap. The focus is now on ensuring that any future administration of CT is well suited “to the varying needs of the diverse CT population”. Clearly the […]
Companies House has launched a voluntary identity verification service for company directors and people with significant control. The move marks the first phase of a wider initiative to tackle corporate fraud and misuse of the companies register. Individuals can now digitally verify their identity either directly through Companies House using the GOV.UK login or through […]
SMEs are claimed to be responsible for £4.4 billion of unpaid tax as a result of tax evasion, according to a new report from the National Audit Office (NAO). Tax evasion is the practice of deliberately falsifying or omitting information to reduce a tax bill. The research – which focused on the high street […]
With the new Labour government taking office earlier this month, and after a rather turbulent few years for the Conservatives, there’s a feeling that some certainly is now in the mix. This should help stabilise the economy and the landscape for business. But what should we expect from the new order? It’s fair to say […]
A new online training course for small business leaders – called Help to Grow: Management Essentials – has been launched by the Government. The free self-guided course has been designed to offer practical advice and resources for small business leaders and is an introductory version of the full Help to Grow: Management course launched in […]
Former United States Secretary of Defence Donald Rumsfeld might have called Covid an ‘unknown, unknown.’ Nobody saw it coming and when it arrived nobody knew how to react. It was, in economic terms a black swan. Back to the present day and Mr Rumsfeld would probably say, when considering the outlook for 2024, we have a series of known unknowns facing us.
A recent case between an employer and employee involving a sandwich, has provided a sharp reminder that the accurate claiming of expenses is a key part of employment policies and even the slightest infringement can carry significant consequences.
The Economic Crime and Corporate Transparency Act, which received its royal assent in October, will herald a major shake-up for Companies House. The new legislation is set to introduce new powers which will allow UK authorities to proactively target organised criminals, reduce fraud, improve security, and enhance company data.
Our latest Autumn Tax briefing is now available to download here.