Britebooks News

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…

Rebound in earnings and confidence for freelancers – but IR35 concerns persist

Rebound in earnings and confidence for freelancers – but IR35 concerns persist

Both positive and negative sentiments were expressed by the UK’s freelancers in response to a survey undertaken by the Association of Independent Professionals and the Self-Employed (IPSE).  On one hand, the research for the first quarter of 2021 found evidence of a “remarkable recovery” in freelancers’ earnings and confidence in the economy to levels not…

UK small businesses ‘could enjoy £16.6 billion boost’ from embracing digital

UK small businesses ‘could enjoy £16.6 billion boost’ from embracing digital

At this time of all times, it practically goes without saying that SMEs up and down the UK will be investigating all the means by which they can ‘bounce back’ after the COVID-19 pandemic. Now, the cloud accounting platform Xero has weighed in with new research indicating that such firms could reap major benefits for…

Budget 2021: Updates

Budget 2021: Updates

This week, the Chancellor delivered the government’s Budget for 2021. Mr Sunak announced extensions to a number of the current COVID-19 schemes, as well as additional support for individuals and businesses. Below is a breakdown of some of the key measures for employers. To get the full details on all of Budget 2021 measures announced…

Government will largely avoid imposing penalties for first year of new IR35 arrangements

Government will largely avoid imposing penalties for first year of new IR35 arrangements

In welcome news for many businesses using Wellington and Plymouth bookkeeper and payroll services, the government has issued new guidance indicating that it will not fine employers if they initially fail to comply with upcoming changes to IR35 rules – as long as there is no evidence of deliberate wrongdoing.  The off-payroll working rules, also…

Increasing concern about UK business debt as March Budget looms

Increasing concern about UK business debt as March Budget looms

The British economy looks set for a protracted recovery from the coronavirus pandemic, as figures reported by The Guardian raise fears about the escalating debts burdening UK businesses. The newspaper said that new statistics showed British firms had taken on debt at more than twice the normal average growth rate since the onset of the…

Payroll Tax Changes for Contractors Finally Set To Take Effect From April

Payroll Tax Changes for Contractors Finally Set To Take Effect From April

After a delay to the originally intended start date of April 2020 in the wake of the coronavirus crisis, changes to off-payroll working rules (IR35) will finally come into force from April 2021.  The new rules, now re-launched by the British government, will force some freelance workers onto companies’ books. This is because of the…