New research from Barclaycard has identified that 51 per cent of finance leaders are frustrated that their accounting software is not intuitive enough. With increased pressure on margins for finance and resourcing, finance leaders have identified inefficiencies in their accounting systems, with nearly half (48 per cent) frustrated that their current system is not sufficiently…

The HMRC has collected £37 billion in revenue from brand-new taxes that it has introduced over the last decade according to new research by UHY Hacker Young. The new taxes cost £7.6 billion in 2018/19, up from £7.4 billion n the previous year. The newest tax, the Soft Drinks Levy, has cost over £300 million…

The Government has announced that it is pushing ahead with proposals to prioritise the repayment of some tax debts in insolvencies from April 2020. The extra money which will be repaid to HMRC under these proposals will come out of funds which would otherwise have been paid to creditors including pension schemes, trade creditors, lenders,…

One-fifth of self-employed sole traders don’t survive one year, and the majority don’t survive five according to new analysis of HMRC tax records by researchers at the Institute for Fiscal Studies, funded by the Office for National Statistics through the Economic Statistics Centre of Excellence (ESCoE) and the Economic and Social Research Council. The findings also…

Hotels, pubs, and restaurants in Scotland have seen their levels of elevated insolvency risk fall slightly or hold steady since the start of the year, according to insolvency and restructuring trade body R3. The proportion of hotel companies based in Scotland deemed by R3’s research to be at greater than usual risk of insolvency in…

More than eight in ten (83%) Chief Finance Offices (CFOs) ) say they expect the long-term business environment to deteriorate as a result of the UK leaving the EU, according to Deloitte’s latest Q2 CFO Survey. This is the highest reading since the referendum in June 2016. Meanwhile, the percentage of CFOs who think that…

In June, the following administration notices have been issued and advertised in the London Gazette for the following companies: A G BAKER FENCING LTD ACI FINANCIAL LTD AFFINITY CORPORATION LTD AGS SUPPORT LTD AIM HIRE GLOBAL LTD AMICUS RENEWABLES LTD ATLANTIC FINANCE (UK) LTD BATMART INTERNATIONAL LTD BEAMISH TRANSPORT LTD BENNETT MANUFACTURING SERVICES LTD BOOTH…

Winding up Petitions (Companies) have been issued and advertised in the London Gazette for the following companies: BACK TO BACK CARE LTD BALLYCOLM CONTRACTS LTD BANDENIA FIDUCIARY MANAGEMENT LTD BANGOR CITY FOOTBALL CLUB LTD BCS MEDICAL (SHACKLETON) LTD BEAT STREET MANCHESTER LTD BEAT TV LTD BECKLEY DESIGN & CONSTRUCTION LTD BEST ELECTRICAL EUROPE LTD BEVERLY…

Anti-money laundering (AML) specialist SmartSearch have become the only online verification platform to offer business credit checks. SmartSearch is already the only organization in the UK with the ability to verify individuals and companies in the UK and internationally all in a single platform via a browser or API, with full Sanction, PEP and adverse…

The number of business failures in 2018 in the Scottish construction sector was the highest annual figure since 2014 and this year looks on target for a similar number according to new analysis of the sector by leading accountants and business advisers French Duncan LLP. In 2018 202 businesses in the construction sector went through…

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