Late payments cause UK SMEs to miss out on over £250 billion

Unpaid invoices and the costs associated with companies pursuing customers’ payments, as well as long payment terms, mean that SMEs in the UK are missing out on over £250 billion of liquid cash flow every year. Integral to the UK economy, SMEs account for 47 per cent of all private sector turnover. Delayed payments from customers

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Source: SmallBizUK

Top ten legal ways to earn extra money

We are living in the age of consumerism. With the rise of economy production comes the increase in spending larger amounts of money. This causality between these two notions is forcing an increasing a number of people from all around the globe to explore new ways of enlarging their income, usually through all kinds of

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Source: SmallBizUK

Guidance: Reform to Corporation Tax loss relief draft guidance

This draft guidance has been published so that stakeholders can comment on it and to explain the application of the legislation for reform of Corporation Tax loss relief.

The government has confirmed that the legislation will be included in a Finance Bill to be introduced after the summer recess. An amended draft of the legislation was published on 13 July 2017.

This is an initial tranche of guidance, focusing on the core rules and other aspects where guidance has been specifically requested. Amended and further draft guidance will be issued in due course.

Comments about this draft guidance should be emailed to ct.lossreform@hmrc.gsi.gov.uk. Comments can sent in batches. The deadline for comments is 25 September 2017.

The draft guidance will be updated as necessary in the light of comments received.

A consultation on the reforms to Corporation Tax loss relief has been carried out.

A tax information and impact note has also been published.

Source: HMRC

Team-building activities: A few great tips for small businesses

The fact is that team-building activities are getting quite popular these days. Small businesses, as well as large corporations, have realised that these activities can bring many benefits. From improved communication and development of skills to better relationships and development of team roles – these are just some of the benefits of team-building. But, managers

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Source: SmallBizUK