A new study from IWG, the world’s largest provider of hybrid working solutions, has found that hybrid working is providing a lifeline to small and medium sized enterprises (SMEs) amidst the cost-of-living crisis. New research among more than 1,000 small businesses found that more than three quarters (77%) said adopting hybrid working had made their […]
Economic experts have warned of 5 years of lost economic growth and a 60 % change of a recession due to being unprepared for geo-political tensions and socio-economic circumstances, according to the National Institute for Economic and Social Research (NIESR) A triple blow of Brexit, Covid and Russia’s invasion of Ukraine is said to have […]
Nearly half (49%) of UK businesses have experienced a cyber attack, a new study has found, indicating the evolving threat of cybercrimes to businesses. The 10 sectors that have experienced the MOST cyber attacks: Rank Sector Percentage of respondents that have experienced a cyber attack 1 Education 78% 2 Arts, Entertainment and Recreation 68% 3 […]
The broad range of the program includes not only bank products at preferential terms, but also a number of financial and non-financial solutions. Its purpose is to stimulate development, while providing support and reliable funding. Since its inception in 2018, the program has granted loans in the amount of almost BGN 130m, helping more than […]
From today, HM Revenue and Customs (HMRC) has made it mandatory for all businesses claiming Research and Development (R&D) tax relief or expenditure credit to submit an additional information form. Nigel Holmes, director of tax, Catax, a Ryan company, explains why this change is needed and what businesses need to do to complete a claim. […]
In the UK in July, small businesses with one to nine employees had 4,800 fewer job vacancies nationally. That’s a monthly decrease of 3.31% to 142,200 vacancies compared to the previous official benchmark of 147,000 in June’s Vacancy Survey, published by the Office for National Statistics. Finance and insurance is the only sector that saw […]
New figures published by HMRC today reveal that the amount of tax owed to the exchequer but remaining unpaid reached £44.5bn as of 30 June 2023, a 6% rise versus the same date last year. According to HMRC, the majority of this tax debt is owed by small and medium-sized businesses, many of which appear […]
New analysis from the UK’s leading insurance premium finance company, Premium Credit, shows the Construction sector borrows the most to fund insurance but the professional and scientific sector is the fastest-growingc Premium Credit’s Insurance Index found more than half (51%) of SMEs are relying on some form of credit to fund their insurance with the average […]
From 1 April 2023, SMEs have seen R&D tax credits relief on qualifying costs reduce from an enhancement of 130% to 86% and, for loss-making companies, repayable credit reduce from 14.5% to 10%, whereas for large companies it will rise from 10.5% to 15%. Shehzad Ashaq, associate partner at Wylie & Bisset, expressed surprise at […]
Claiming tax relief for research and development is set to get harder from today as HMRC seeks to clamp down on the estimated £1.13bn of fraud and error in claims, warns accountancy and business advisory firm BDO. From 8 August 2023, all businesses – or their R&D advisers – will have to fill in an […]
