Latest News

National Living Wage to rise next month
5 March 2019 - posted by: Prowting & Partners Accountants in Bristol

From 1 April 2019, employers will be required by law to pay their employees the following minimum wages: Year 25 and over (National Living Wage) 21 to 24 18 to 20 Under 18 Apprentice Current rate £7.83 £7.38 £5.90 £4.20 … Read more »

Payroll sector prepares for key changes in 2019/20
5 February 2019 - posted by: Prowting & Partners Accountants in Bristol

The next 12 months will see a number of new changes to payroll policy that could have an impact on a wide range of businesses. To give an overview of how businesses could be affected by these changes, below are … Read more »

Entrepreneurs’ Relief changes fail to meet up to the test
5 February 2019 - posted by: Prowting & Partners Accountants in Bristol

During the last Budget, the Government announced new conditions to entrepreneurs’ relief that would take immediate effect to change the definition of a “personal company” for shareholders who claim entrepreneurs’ relief. By introducing these changes, they hope to restrict shareholders … Read more »

Just over half of businesses are prepared for Making Tax Digital
5 February 2019 - posted by: Prowting & Partners Accountants in Bristol

A new study into preparations for Making Tax Digital amongst businesses has found that only 57 per cent of firms are ready to comply with the new regime by 1 April 2019. Despite the various delays and changes to the … Read more »

Late payers to be flagged up to businesses under new proposals
5 February 2019 - posted by: Prowting & Partners Accountants in Bristol

The Small Business Commissioner, Paul Uppal, has recommended a new “traffic light” system that will warn smaller firms which businesses have a consistent record of late payment and those most likely to request longer payment terms. It is thought that … Read more »

HM Revenue & Customs drops insistence that all company directors must submit tax returns
5 February 2019 - posted by: Prowting & Partners Accountants in Bristol

HM Revenue & Customs (HMRC) has dropped its insistence that all company directors must submit tax returns following a series of tribunal rulings. For several years, HMRC has advised in its guidance on the gov.uk website that company directors should … Read more »

Automatic Enrolment contributions to increase
5 February 2019 - posted by: Prowting & Partners Accountants in Bristol

The next increase in Automatic Enrolment (AE) pension contributions for both employees and employers will take place from 6 April 2019. The minimum employer contribution will increase from two per cent to three per cent, while the employee contribution will … Read more »

Debt recovery costs small businesses an average of £9,000
2 January 2019 - posted by: Prowting & Partners Accountants in Bristol

The cash flow difficulties that late payments cause small businesses are well known. However, the cost of recovering late payments is less well publicised, despite being a major and growing expense – coming in at around £9,000 last year for … Read more »

Brexit uncertainty sends small business confidence to a seven-year low
2 January 2019 - posted by: Prowting & Partners Accountants in Bristol

Confidence amongst small businesses has tumbled to a seven-year low – in part due to the uncertainty of Brexit. A survey carried out by the Federation of Small Businesses (FSB) has found that nearly one in three small exporters think … Read more »

An end to the Entrepreneurs’ Relief ‘dilutions dilemma’?
2 January 2019 - posted by: Prowting & Partners Accountants in Bristol

As a business takes off, the level of investment it needs in order to expand can significantly outpace growth in revenues and profits. One of the options open to entrepreneurs at this stage in the development of a business is … Read more »