Are you ready for GDPR?

It has been described as the biggest shake-up in data protection laws for a generation. But how ready are you for GDPR? Nearly half of at small and medium sized business owners have not heard of the EU General Data Protection Regulation, according to a report this month. And less than

Taxman rakes in £1bn as avoidance clampdown gets results

HM Revenue and Customs collected another £1.3bn in disputed tax last year from individuals and small businesses as its crackdown on ‘aggressive’ tax planning shows no sign of losing momentum. The figure, revealed in a report in the Financial Times (FT), is up by a fifth on the sum col

A new leaf for autumn

While the government worked out its new and unexpected position over the summer in the aftermath of the election, many were left wondering what the implications are now across a range of business and personal tax planning. Towards the end of July the Treasury issued a guidance note ou

Thousands wrongly ‘punished’ after dipping into pension pots

The great pension reforms were heralded by the government as the start of a new era of freedom of choice. The tax rules that were changed in 2015 were designed to give people aged over 55 greater access to their pensions. However a report in The Daily Telegraph newspaper has revealed

Advice and support surgeries grow at The Business Clinic

An organisation dedicated to development and growth in Lancashire is extending its business support surgeries from next month because they have proved so popular. The Business Clinic has been holding its fortnightly ‘peerworking’ sessions on Friday mornings. Now, to meet the demand, i

Digital tax put on hold for small businesses

The government has bowed to pressure over the speed of its drive to introduce a digital tax system and has delayed controversial plans to force millions of SMEs to update the taxman four times a year instead of once. Under fire from small business owners, politicians and professional

Powerhouse Fund aims to unlock potential

The new £400 million Northern Powerhouse Investment Fund (NPIF) was launched as a potential new driver of growth, working to help businesses across the region realise their potential. And that certainly seems the case, looking at the funding options that it makes available for entrepr

Non-traditional funding on the rise

Rising numbers of family businesses are turning to private investors as they look for long-term partnerships to support their growth ambitions, according to some interesting new research. However, almost half of the businesses that were quizzed admitted they did not know enough about

New money laundering law will have an impact

You may think the latest money laundering laws being introduced are little to do with your business operations – but think again. The dry-sounding ‘Fourth Money Laundering Directive’ (MLD4) has been put together to bolster defences against money laundering and the financing of terrori

Will challenges on the rise

The importance of getting your will right and making sure that it is regularly reviewed were emphasised by a report in the Financial Times earlier this month. The newspaper reported official figures showing legal challenges against wills numbered more than 12,000 last year. That incre

Late payment is a ‘handbrake on growth’

Late payments are standing in the way of growth and job creation in SMEs across the country, a new report has revealed. It says that the issue left small and medium sized enterprises a staggering £266bn out of pocket last year. The statistics discovered in a survey of more than 1,000

Family businesses face growing challenges

There’s no doubt that the pressure is mounting on family businesses as they face increasing challenges on all fronts. The Institute for Family Business (IFB) has warned that the Budget decision to cut the dividend allowance will disproportionately impact family-run ventures and risks