Category Archives: Business News

Bank of England slashes interest rates to 0.1% – A historic low

In an effort to calm markets, the bank of England have reduced interest rates further from the decrease to 0.25% recently announced. This seems to have had the desired effect and FTSE 100 has rallied and closed 1.4% higher, but what does it mean for your businesses? If you have finance held on a variable…

The Budget and Coronavirus

planning, cash, budget 2020

Coronavirus is a real threat to many industries, especially in the hospitality sector, retail sector and other non-essential industries such as beauticians and leisure activities. Many have noticed the impact already over the last few weeks and sadly this will only get worse as more people self-isolate or decide not to go out, and more…

Changes to disguised remuneration loan charge

tax payers, loans, Sir Amyas Morse

The independent loan charge review, conducted by Sir Amyas Morse, was published on 20 December, having been delayed due to the general election. The loan charge was introduced to collect tax from individuals who had benefited from schemes devised to avoid PAYE and national insurance. The date that the loan was made to the individual…

The effect of Brexit on recruitment in the UK tourism industry, and how you can prepare

tourism, brexit, UK

The tourism industry is vital to the UK economy. Tourism is a major contributor to employment across the country, working hand in hand with a number of different industries from entertainment to travel to retail. Visit Britain estimates that by 2025, the UK will have a tourism industry worth over £257 billion.  That being said,…

Can networking really help my business?

business community, networking, event

Back in October of last year, we welcomed over 200 business owners to Carlisle Racecourse for our local business event, BITE 2018. We watched as these entrepreneurs rubbed shoulders, talked shop, and shared their biggest business challenges. The room buzzed with industry and excitement. So, when anyone asks if networking can help their business, we…

Brexit: March 29 is fast approaching

Brexit, Eu Employees, No Deal, March 2019

The UK is set to leave the EU on the 29th of March, 2019. We think. Maybe. You see, at the time of writing this blog post, another twist has emerged. The Prime Minister has requested a 3-month extension which, if accepted, would put the leave date back to June 30th. And what happens then…

Consider Other Tax Efficient Investments

Enterprise Investment Scheme, Capital Gains tax

If you are looking for investment opportunities, have you considered the Enterprise Investment Scheme (EIS)? These investments in certain qualifying companies allow you to set off of 30% of the amount invested against your income tax bill as well as the ability to defer Capital Gains Tax (CGT) until the shares are sold. An even…

‘No Deal’ Brexit: 3 Important Areas to Consider

Movement of goods, product compliance, March 2019, Transitional Simplified Procedures

With so much uncertainty around what Brexit will mean, planning for a “No Deal” scenario seems sensible right now. Businesses that buy and sell from the EU should have contingency plans in place which need to be flexible to cope with a variety of possible outcomes. If a ‘No Deal’ happens after March 2019, here…

Have You Used Your 2018/19 ISA Allowance?

Investment, ISA

Your maximum annual investment in ISAs for 2018/19 is £20,000.  Your investment needs to be made before 6 April 2019.  In addition, have you thought about investing for your children or grandchildren by setting up a Junior ISA? In the 2018/19 tax year, you can invest £4,260 into a Junior ISA for any child under…

Watch Out For Changes To Capital Allowances

finance bill, HMRC

The Good News: A New Structures and Building Allowance From 29 October 2018 HMRC has reintroduced a tax relief for the construction costs of structures and buildings called the Structures and Buildings Allowance (SBA). The relief is available on new non-residential structures and buildings or renovations/conversions of existing buildings. The relief will be at an…