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What is the Confirmation Statement?

Posted by Charlotte Morley in Accounts, Business, News, The Business Hut | 0 comments

You may have heard that from 30th June 2016 the confirmation statement replaces the annual return. We often get asked what this means and understand that you may still have questions. We’ve provided the details you need to know in our latest blog.

A Rise in the National Living Wage – April 17

Posted by Charlotte Morley in Accounts, Business, News, The Business Hut, Tips | 0 comments

From 1st April 2017 The National Living Wage (NLW) was given a little bump! The rise to £7.50 per hour is in line with Chancellor Phillip Hammond’s Autumn Statement announcement in November. The National Minimum Wage (NMW) is the minimum pay per hour most workers are entitled to by law. The rate will depend on a worker’s age and if they are an apprentice.

Budget 2017 – Headlines

Posted by Victoria Morley in Accounts, Business, News, Start Ups, The Business Hut, Tips | 0 comments

Here’s a brief roundup of the key headlines from the chancellor’s first Budget:

The state of the economy

  • UK second-fastest growing economy in the G7 in 2016.
  • Growth forecast for 2017 upgraded from 1.4% to 2%.
  • But GDP downgraded to 1.6%, 1.7%, 1.9% in subsequent years, then 2% in 2021-22.
  • Inflation forecast to rise to 2.4% in 2017-18 before falling to 2.3% and 2.0% in subsequent years.
  • A further 650,000 people expected to be in employment by 2021.
  • Your health – and the health of your business

    Posted by Charlotte Morley in Business, Conceptual, The Business Hut, Tips | 0 comments

    We truly believe that a healthy body and mind can directly affect how your work, your productivity and how your business grows. That’s why we were impressed to see Xero’s 2017 second annual Make or Break report, where research revealed that 78% of small business owners believed their personal well-being (as well as that of their employees) is inextricably linked to the health of their business. As a result, they make their health and happiness a top priority.

    VAT Flate Rate Scheme is changing!

    Posted by Victoria Morley in Accounts, Business, Start Ups, The Business Hut, Tips, Xero | 0 comments

    If your business is registered on the VAT Flat Rate Scheme then you will need to be aware of the changes being implemented from April 2017. You may recall this being announced in the Autumn statement as an action to tackle aggressive abuse of the scheme.

    The Flat Rate Scheme, or FRS as it’s commonly referred, is a simplified VAT scheme which allows businesses with a low cost base to set the net VAT due to HMRC based on a trade sector percentage.