Tag Archive for Accounts & tax

Is data blindness the cause of cash flow woes?

Research shows that while businesses are surrounded by data that could inform and guide their strategy and decision-making, they do not have the systems in place to maximise it. Instead, the majority of firms use outdated tools and models which are simply not up to the task of crunching vast data sets. This data blindness
The post Is data blindness the cause of cash flow woes? appeared first on Small Business.

Read more...

The complex VAT mistakes your business could be making

The complex nature of VAT can very often feel like entering into a minefield for businesses across a variety of industries. Even something seemingly stress-free like registering your company for VAT can be shrouded in mystery, as many firms do not realise they only are required to register for VAT once their turnover on a
The post The complex VAT mistakes your business could be making appeared first on Small Business.

Read more...

The business case for improving the purchasing process

Many businesses rely on controls over expenditure at the point of receipt of a supplier invoice, making it difficult to produce timely and reliable management accounts. This results in a lack of visibility of commitments that have been previously made, leading to surprises. When supplier invoices arrive, spending may have been higher than expected. Moving
The post The business case for improving the purchasing process appeared first on Small Business.

Read more...

SMEs face crackdown on R&D relief claims

R&D (research and development) tax relief has proven to be a strong incentive in helping UK businesses become more innovative and strive to become world-class. The scheme, which enables companies investing in product or service improvements to apply for significant tax breaks, appears to be delivering value for money too. A 2015 evaluation by HMRC
The post SMEs face crackdown on R&D relief claims appeared first on Small Business.

Read more...

New payment reporting requirements highlight UK’s late payment culture

Small and medium-sized businesses are an integral part of the UK economy, making up 47 per cent of all private sector turnover, but poor accounts payable practices by bigger businesses and the increase of late payments are putting this essential ecosystem at risk. The UK economy would be boosted by as much as £2.5 billion
The post New payment reporting requirements highlight UK’s late payment culture appeared first on Small Business.

Read more...