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27/11/2023. Every company is required by law to keep specified registers and records which set out information on the company in respect of its members, officers and charges (the “Statutory Registers”).
31/10/2023. Cash is important to any business. Too little and the business puts itself into financial difficulties and concerns around overtrading, too much and there is the risk that the business is not seizing opportunities in the marketplace or making the best use of that cash.
05/10/2023. In our 2023 C-suite barometer 43 % of executives of privately owned business surveyed highlighted that economic trends including inflation and higher cost of living will have a big impact over the next 12 months. But how does the current market impact your business if you are looking to finance growth, and what options are available?
Mature markets are experiencing a shift in consumer demand patterns as consumers move away from traditional products and services towards those consistent with environmental, social, and governance goals. Our study ‘Sustainable, smart, and synchronised’ explains how consumer companies can harness ESG and digital transformation to thrive in this changing environment.
02/10/2023. From the tax year 2023/24 the way HMRC tax self-employed and partnership profits will change. This change does not affect those in business with an accounting year ending between 31 March and 5 April.
02/10/2023. HMRC continue to increase the volume of tax investigations, and we explore below the best ways to navigate being one of the rapidly increasing number of taxpayers subject to these enquiries.
21/09/2023. Business growth can sound simple, but if approached incorrectly, it won’t deliver fruitful results and cause additional challenges.
The Low Pay Commission (LPC) estimates that around 1.6 million workers were being paid at or below the minimum wage in April 2022 – that’s 5% of all UK workers. However, with the minimum wage rates increasing and pay differentials reducing, combined with the complexities of the minimum wage legislation, it’s not just those low paying roles at risk anymore.
Following a recent tribunal case involving HMRC, it was found that car allowances can be treated as relevant motoring expenditure. This means many businesses could now be due a refund of NIC from HMRC for previous tax years.
07/09/2023. With HMRC enquiries on the rise, we look at what an enquiry is, why they arise, and what happens at the end of the process.
07/09/2023. HMRC enquiries can, in some circumstances, give rise to penalties. We take a look at the position below.
The childcare sector has been hitting the headlines over the past months. Examples include the government’s plans to extend extra childcare during term time [1] and more recently an article highlighting the rapid growth of private equity investment into the sector and the associated risks of what some cite as “profiteering and failure” [2].
25/08/2023. You’re selling your company. Is purchaser tax due diligence likely to create any problems for you? It would certainly be better to know in advance.
23/08/2023. The UK tax code is so complex that if you ask a simple question of it you will almost certainly not get a simple answer back. So, let’s try to navigate our way around this not-so-simple answer, although given the complexities of tax, what follows will not be able to cover all the possible answers to our question.
11/08/2023. Have you recently received correspondence from HMRC asking about your overseas assets, income or gains? If so, our specialist tax advisors have provided guidance on how best to proceed.
27/07/2023. Cash flow ratios are particularly important for the financial analysis of the business.
27/07/2023. Managing your cash flow is fundamental to all businesses, read our top tips for improving cash flow within your business.
11/07/2023. Good news for companies claiming under the Research and Development Expenditure Credit (‘RDEC’) regime, bad news for companies claiming under the Small & Medium Enterprise (‘SME’) regime.
05/07/2023. During the Covid pandemic, eligible companies were afforded an automatic 3 month extension to their filing deadlines at Companies House. This automatic extension then ceased and normal service resumed albeit companies could still choose to apply for a filing extension and, if eligible and citing Covid specifically as a reason, the 3 month filing extension would be automatically...
01/06/2023. Mazars are aware that HMRC are currently targeting a number of employers on NMW compliance processes.
26/05/2023. What is a P11D and when is the deadline? A P11D is a form submitted to HMRC where employers report any taxable benefits and expenses provided to their employees or directors that are not included within their salary. The deadline for P11D reporting for the 2022/23 tax year is 6 July 2023.
26/05/2023. Having built up a successful business, you may decide it’s time to move on and explore the options you have for exiting the business.
26/05/2023. We are often asked by the director and shareholders of companies, ‘what is the best way to pay myself? It is not a straightforward question to answer and there is no one size fits all approach.
24/05/2023. As tax is the one certainty all businesses face, it remains at the forefront of negotiation and debate, driving decisions on policy, trade, strategy and business transformation.
23/05/2023. A brand is a long term investment and a key pillar to your business development and marketing activities. While companies have worked to reinvent and update their operations to stay competitive, there is a risk of neglecting to update their brands.
18/05/2023. The newly introduced penalties have been in effect since 1 January 2023, these changes are set to impact those SME businesses who are not prepared.
16/05/2023. In difficult economic environment many business owners are considering how they can get the most out of their sales teams to deliver growth or even just to sustain their current market position. Our Management consulting team have outlined 3 areas of focus to increase sales performance.
16/05/2023. Over the past few years, HMRC’s attention has been focused on the pandemic and as a result HMRC have had little time to review other key areas. As the admin burden of the pandemic lessens, attention is starting to return to day-to-day compliance matters, one key area being “vehicle classification” for benefit-in-kind purposes.
11/05/2023. A brand is so much more than just your logo, it’s about your proposition, the quality, consistency and experience you offer customers and still so much more. A well-crafted brand image can increase sales, improve the effectiveness of your marketing budget, grow your business, and make more profit but crucially for every business owner, brand can increase the value of your business,...
05/05/2023. The first quarter of 2023 has seen a slowdown in deal activity after record levels in 2021 and early 2022, and yet I can’t recall a period when I have been having more conversations with owner-managers who are reflecting on what to do next and whether now is the right time to transact. Why is this and what is driving owner-managers to consider their options?
02/05/2023. Why management information is crucial to make business decisions, how do ensure I have robust and reliable information on how my business is performing?
28/04/2023. As a business leader, you may be thinking about your retirement, and in that case, who will take over the family business. Thinking about what’s next means looking at the company at an operations, management, and ownership level.
28/04/2023. As a small business owner, there has been a long-standing ability to file reduced information on your business at Companies House. The Economic Crime and Corporate Transparency Bill is going to change this.
26/04/2023. Not many employed people worry about their tax coding notices unless they find that too much tax is being deducted from their wages.
24/04/2023. Private equity investment focuses on securing capital that can be used to facilitate your growth plans or de-risk your investment by extracting capital from the business.
18/04/2023. Employee ownership offers a combination of potential tax reliefs, and its flexibility means that it can suit a wide range of circumstances and personal preferences.
18/04/2023. Debt can sound daunting for business owners but actually can be a cost-efficient way of obtaining the finance required in the short to medium term to realise growth and expansion plans.
17/04/2023. I am a Director and shareholder of my own limited company. Isn’t the company money and my personal money effectively the same thing?
April 2023. The global rise in inflation began in mid-2021 as economies re-opened following the COVID pandemic. Damaged supply chains were the prime issue, as well as China’s continued zero-COVID policy since the country’s cheap exports had been a prime deflationary factor in recent decades. Inflation was turbo-charged in February last year as Russia’s invasion of Ukraine caused energy prices...
April 2023. Even with persistent inflation and lingering economic fears, U.S. consumers (in particular) have surprised many with their desire to spend. This unexpected consumer resilience is helping to push the chance of an economic slowdown further away.
April 2023. March was a huge month for developments in artificial intelligence (AI). GPT-4’s impressive performance on coding tasks and standardized exams raised many questions about what jobs would be automated. In finance at least, we believe that humans plus AI will beat AI.
06/04/2023. Capital reduction is the process by which a company reduces its shareholder’s equity through the repurchase and cancellation of shares or a reduction in statutory reserves. A capital reduction can enable a company to reduce its negative position, create distributable reserves or return capital to the shareholders.
06/04/2023. Our tax experts have summarised the importance of checking your National Insurance record and how this could impact your state pension.
A number of new tax rates, allowances and thresholds have been introduced for the 2023/24 tax year. We have created a 2023/24 tax guide which provides a detailed synopsis of each.
24/03/2023. As your company’s profits increase, you may fall into the Quarterly Instalment Payments regime. This article provides a useful summary of QIPs, their rules, and what to consider.
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