SMEs Lose thousands a year due to unpaid bills

A third of small businesses hesitate to chase late payments from clients because they do not want to antagonise or embarrass them. Credit control firm, Santago, conducted the research which found that 81% of SMEs do not chase payments from late paying clients because they find the task ‘uncomfortable’. 19% of SMEs do not do…

Government announces free advice for pensioners

The Treasury has announced that free advice for pensioners will be available from next year. They will be able to receive free independent advice on their savings and investments. From the 2015-16 tax year, savers from the age of 55 will be able to utilise their pension funds however they wish. Savers have previously purchased…

Tax and accounting feature on SME worries list

In a survey conducted by neuroscientist Dr Lynda Shaw, the biggest concerns and worries of many small business owners have been revealed. SMEs consider tax and accounting among their biggest worries. Nearly 50% of survey participants said that they struggled with tax and accounting for SMEs, with 23% stating they experienced anxiety over these subjects. However, 84%…

HMRC updates IR35 guidance

HMRC has updated its guidance notes on IR35 which should help make things clearer for contractors looking for clarification on the often cloudy subject. Nineteen pages of information have replaced the previous FAQs guide, dividing into more accessible sections filed under ‘Intermediaries legislation’, ‘How it applies to you’, How to work out if it affects…

Flexible working arrangements to expand to all employees

Jobsite claims that new data shows 53% of UK companies are not aware of impending changes to flexible working laws. This month will see the introduction of new changes to the flexible working regulations. Previously, flexible working arrangements could be requested by employees with parental responsibilities if they had worked continuously for their employer for…

Self-employed workers are happiest

New research from the Royal Society of Arts (RSA) and e-commerce trading site, Etsy, has identified self-employed workers as happier individuals than traditionally employed workers, despite the challenges that working for oneself may involve. The report, entitled ‘Salvation in a Start-Up’, interviewed approximately one thousand microbusinesses, concluding that entrepreneurialism shows no signs of slowing down…