HM Revenue & Customs (HMRC) has increased the interest rate applied to late tax payments following the latest hike in the Bank of England base rate. The late payment interest rate increased to 4.25 per cent from 23 August – the highest rate since the height of the financial crisis in January 2009. It will…
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Hard pressed SMEs struggling with cashflow challenges
A huge majority of small businesses are ploughing more money into their business than they are taking out for a least one month of every year.
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Open banking allows accountants to deliver added value for clients
A new survey has found that more and more SMEs are turning to open banking to make their businesses more efficient, a move that offers accountants opportunities to deliver added value to clients.
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Small but mighty: the SMEs powering the UK economy
Small and medium-sized businesses (SMEs) contribute massively to the UK economy, accounting for more than £2 trillion in turnover, new research has revealed.
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Jubilee provides extra bounce as business revenues on the rise
A royal Platinum Jubilee bounce is helping drive UK business ahead, as 60 per cent of SMEs expect to see a lift in revenues this quarter.
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Loans to small businesses drop to lowest level on record
Banks have been accused of “pulling up the drawbridge” on lending to small businesses.
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