Rising national living wage hits SME profits


According to new research, 64% of small businesses are seeing profits fall as a result of the national living wage (NLW) increasing.   On the 1st of April 2017, the NLW increased from £7.20 to £7.50 per hour. While this is great news for employees, its hitting small and medium enterprises hard. Out of 835…

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High value dealers need to register for cash payments

Any business which accepts cash payments of €10,000 or more in exchange for goods, is now required to register with HMRC under its new money laundering regulations (MLR).   Recent changes to regulations mean that if you accept cash payments on or above the threshold limit (or equivalent in sterling), you will be classed as…

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More Changes to Persons of Significant Control


1 June 2017 is the deadline to bring the Fourth Money Laundering Directive (MLD4) into UK law.  Although in practical terms this has been largely already implemented through the introduction of the PSC register, further changes are required for a company to disclose their beneficial owners.  Currently, any changes to PSCs must be notified via…

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Tax, VAT and Finance News: Business rates


Business rates revaluation takes effect   The business rates revaluation took effect on 1 April 2017. This means that businesses in England and Wales will pay rates that reflect the changes in their local property market. The government has said that nearly 75% of businesses will see no change or a fall in their bills….

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Tax, VAT and Finance News: Tax dates and changes for April 2017


Important dates and changes for April 2017 As another new tax year begins, here are some important tax dates and changes to be aware of this month. 1 April Auto-enrolment staging dates Auto-enrolment staging date for employers who don’t have a PAYE scheme. Business rates Rate payers that occupy a single property with a rateable…

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