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As we move into the final quarter of the year, there’s growing talk that the Autumn Budget could bring new tax rises and many small and medium-sized businesses are already starting to prepare. According to a recent ICAEW Business Confidence Monitor, over half of UK businesses say they would have to freeze hiring, delay pay rises or cut...

Recent news about large companies being hit by cyberattacks, like Jaguar Land Rover, can make it feel like only the “big players” are at risk. But in reality, small businesses are often the easier target. Criminals know that many sole traders and small firms don’t have big IT teams or advanced security systems in place. When your business...

If your business trades with the United States – whether importing components or exporting finished goods. You’ll want to pay close attention to the latest changes in U.S. trade policy. Several new tariffs have recently been implemented, and they could directly affect your costs, margins, and supply chain strategy. Here’s a breakdown from the Accountants247 Glasgow South team...

Introduction The International Monetary Fund (IMF) has recently provided updated projections on global interest rates, offering crucial insights for businesses. As accountants, understanding these developments is essential for advising you and planning for the future.​ Global Interest Rate Trends IMF Managing Director Kristalina Georgieva indicated that while inflation is decelerating, core inflation remains persistent. Consequently, interest rates are expected to...

The Chancellor of the Exchequer, Rachel Reeves, delivered the Spring Statement on Wednesday 26 March. With the full Budget now moved to the Autumn, the Spring Statement was a chance for the Labour Government to respond to the latest economic forecasts from the Office of Budget Responsibility (OBR) and to set out its wider economic strategy. But, as...

The Bank of England recently announced a drop in the UK base interest rate, with a drop from 4.75% to 4.5%. The final impact of this drop can be both positive and negative for your small business, so it’s worth understanding the effect that interest rate changes can have. Let’s take a look at how a drop in...

The Labour Government has pledged to introduce an Employment Rights Bill within 100 days of taking office, as part of a broader Making Work Pay initiative. Business Secretary, Jonathan Reynolds, was recently quoted as saying that ‘business and workers will always help to shape the ambitions of government, including our plan to Make Work Pay, to ensure it...

The Chancellor, Jeremy Hunt, delivered his second Spring Budget on 6 March 2024. This Budget aimed to appeal to the taxpaying masses, with cuts to National Insurance and a rise to the threshold for VAT registration. But was it too little, too late for the UK economy? We’ve summarised the main points, so you can see how the...

The Chancellor of the Exchequer, Jeremy Hunt, delivered his Autumn Statement on 17 November 2022. The £30bn cost of his predecessor's catastrophic ‘mini budget’ hung heavily over this financial statement. Mr Hunt’s job was to reinstate confidence in the Government’s fiscal capabilities and to inject some optimism into the global perception of the UK economy. To do this,...

The Chancellor of the Exchequer, Jeremy Hunt, delivered his much-anticipated Autumn Statement on 17 November. Here’s our summary of the main points of interest. In his opening remarks, Mr Hunt said his priorities are stability, growth and public services: Stability - Stability is about reassuring the market. The Chancellor announced the following new, ‘fiscal rules’ that public sector debt...