Britebooks News

UK’s small businesses ‘need support to digitise’ to achieve £827 billion growth ambitions

UK’s small businesses ‘need support to digitise’ to achieve £827 billion growth ambitions

In another strong sign of the ever-increasing role digital bookkeeping and other technological solutions can play in helping to power business success, new research has suggested that the UK’s small and micro businesses could miss out on a growth opportunity of around £827 billion over the coming half-decade if they are not supported to digitise. …

CBI director general urges Government to ‘flip business taxation on its head’

CBI director general urges Government to ‘flip business taxation on its head’

As reported by Reuters and elsewhere, British businesses have voiced concern about recent tax rises imposed on them by Chancellor of the Exchequer Rishi Sunak, while suggesting that Budget statements next month should focus on help with such challenges as Brexit and climate change.  Mr Sunak is expected to set out new tax proposals and…

Four fifths of UK businesses ‘still not prepared for Making Tax Digital’

Four fifths of UK businesses ‘still not prepared for Making Tax Digital’

The UK Government’s initiative Making Tax Digital – or MTD – has been enforced for over two years, and yet four out of five businesses in the country still aren’t ready for the scheme, according to a recent report from LondonlovesBusiness.  The online news outlet cited the results of a survey indicating that just 20%…

Mixed picture for the UK’s economic recovery, despite positive July jobs numbers

Mixed picture for the UK’s economic recovery, despite positive July jobs numbers

Multiple reports in recent days have pointed to a potentially unsteady resurgence in the UK economy in the months ahead. The Guardian, for instance, has cited a business trends report from a professional services firm, indicating that worker shortages related to the COVID-19 crisis and Brexit could effectively hold back the national recovery.  This is…

Basis Periods Set to End From 2022

Basis Periods Set to End From 2022

Up to 6 MILLION businesses could be affected by the changes which aim to make tax administration “more effective, efficient and easier for taxpayers to get their tax right”. The move comes from the government to help the transition to the ‘Making Tax Digital’ (MTD) scheme. When will this take effect? From 6th April 2023,…

Survey reveals that small businesses are widely failing to claim expenses

Survey reveals that small businesses are widely failing to claim expenses

Self-employed individuals are entitled to claim back a broad range of business expenses against their tax bill every year. But are you fully informed on which expenses you can claim for? If your answer to that question is “no”, you could be missing out on a significant amount of money each year.  Sure enough, a…

More than 80% of businesses expect negative long-term economic impact from Brexit

More than 80% of businesses expect negative long-term economic impact from Brexit

According to research that will interest many of those seeking expertise in bookkeeping in Wellington and Plymouth, over eight in 10 business owners believe the UK’s departure from the European Union (EU) will bring long-term hurt to the UK economy.  The survey, undertaken for the I newspaper six months after the end of the Brexit…

13,000 HMRC investigations launched into suspected COVID support fraud

13,000 HMRC investigations launched into suspected COVID support fraud

HM Revenue & Customs (HMRC) has opened nearly 13,000 probes into firms over possible abuse of the UK Government’s COVID-19 business support schemes.  In news that will interest many organisations seeking out Xero and QuickBooks services in Plymouth and Wellington, CITY A.M. reported that the HMRC investigations data was uncovered by a law firm via…

Output in the UK primed for quick recovery to pre-pandemic levels

Output in the UK primed for quick recovery to pre-pandemic levels

  In news that is likely to be heartening to many of those making use of the services of bookkeepers in Devon and Somerset, the Confederation of British Industry (CBI) has forecast that UK output will return to its pre-COVID-19 level by the end of this year.  This prediction would be a full year earlier…

UK economy booms in May – but concerns remain for the months ahead

UK economy booms in May – but concerns remain for the months ahead

As many businesses are likely to have sensed when handling their bookkeeping in Plymouth, Wellington or elsewhere in the country over the past few months, the spring has proved a time of resurgence for the UK economy.  As reported by The Guardian and other outlets, May saw the services sector record its quickest month-by-month growth…