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A significant change is on its way for sole traders, with new rules set to reshape how income is reported and managed.
The idea of selling a business to its management team has long been part of succession planning in the UK.
Following changes to legislation, HM Revenue & Customs (HMRC) has revised the way it calculates interest on late and early payments, linking it more closely with the Bank of England base rate.
As global stock markets rise and fall erratically in response to US President Donald Trump’s flipflopping on tariffs, many UK businesses may assume this is a crisis confined to Wall Street or the multinational giants.
VAT is complex, and too many businesses are making costly, avoidable mistakes.
Even a simple oversight or misunderstanding can lead to penalties, cash flow problems, and disputes with HM Revenue & Customs (HMRC).