News Archive 2006
HMRC pledges simpler small firm tax regime
29 November 2006
The government has unveiled new reforms aimed at creating a quicker and simpler tax system for small businesses.
Revealed today by HM Revenue and Customs (HMRC), the changes are designed to "transform" the government department's relationship with small firms.
SMEs still bugged by old problems
24 October 2006
After many years of complaining, small businesses continue to be plagued by difficulties with raising finance, dealing with banks and implementing new regulations, new research reveals.
Small firms 'facing utility bills time bomb'
19 October 2006
Small businesses are struggling to cope with rising utility costs, new research claims.
The report commissioned by internet phone company Vonage said the average utility costs for UK small businesses have risen by a record 9.8% during the past 12 months.
Workers' rights 'cost firms £37bn'
2 October 2006
New employment laws introduced by Labour since 1998 have cost businesses £37bn, the Confederation of British Industry (CBI) has claimed.
Firms fail to embrace blogs
28 September 2006
While many small businesses understand the potential business benefits of running a blog on their company website, only a small minority actually intend to set one up, according to a new report.
HMRC raises tax late payment charges
29 August 2006
Interest payments imposed on taxpayers who miss deadlines for paying taxes and national insurance contributions will increase from next week, HM Revenue & Customs (HMRC) has revealed.
SMEs back a business MOT
3 August 2006
The majority of small business bosses back the equivalent of an annual MOT road test on their business to give them a better chance of growing their firm and keeping out of financial trouble, new research reveals.
Tax incentives 'failing to stimulate business'
24 July 2006
Government tax reliefs aimed at stimulating enterprise need to be re-examined as several companies are unaware of them or believe the application process is too complex, new research claims.
Computer error blights NI payments
27 June 2006
A glitch in HM Revenue & Customs' (HMRC) computer system has left 500,000 taxpayers with holes in their national insurance (NI) records leading to some being asked to pay twice or losing part of their state pension entitlement, 'The Guardian' claims.
Slow VAT registration complaints rise
14 June 2006
Complaints from new companies about the time it takes to register for value added tax have seen a five-fold increase over the past year, according to press reports.
The Financial Times said the hike has led to concern that the system is unable to cope with the strain of anti-fraud measures. In an effort to stop criminals defrauding government coffers by billions of pounds, HM Revenue & Customs (HMRC) officials have been instructed to rigorously scrutinise VAT registration applications.
SME finance gets funding boost
23 May 2006
Two new Enterprise Capital Funds (ECFs) aimed at helping small companies secure growth finance have been unveiled by the government.
Small business minister Margaret Hodge said the money will boost innovation, jobs and growth for SMEs struggling to gain finance.
SMEs ignore website importance
9 May 2006
A fifth of small businesses do not recognise the importance consumers place on company website, new research warns.
Although 53% of consumers would shun any company without a web presence, one in five small firms place little importance on setting up a website, the poll by web hosting firm 1&1 Internet revealed.
SMEs 'choking under tax complexity'
21 April 2006
The majority of small firms believe the complexity of the UK tax system is negatively affecting the country's international competitiveness, new research reveals.
According to the poll by the Institute of Directors (IoD), two thirds of firms complained that the tax system has become more complicated over the past five years, while a half claimed to be spending increasing amounts of money on tax planning and compliance.
UK SMEs 'more valuable than French firms'
6 April 2006
Small companies in the UK are more valuable than their French counterparts, new research claims.
Budget 2006: an economic overview
22 March 2006
The UK economy is strengthening as the government leads the country into the tenth consecutive year of growth, Gordon Brown pledged today.
New online database exposes late bill payers
27 February 2006
An online database showing which UK listed companies pay their bills on time and which ones are late payers has been launched by the Federation of Small Businesses.
Poor credit checking crippling small business
15 February 2006
A leading business pressure group is warning small firms to improve their credit checking procedures or face potentially devastating consequences after the number of business failures across various market sectors increased in 2005.
Government failing small businesses
13 February 2006
Surveys show that the Government is failing small businesses, says the Forum of Private Business.
Quarterly reports published by the independent Small Business Research Trust show that throughout the year small businesses continually cited taxation, national insurance and employment regulations as the main barriers to growth.
Starting a business
18 January 2006
Last year was a tough one for small business, and next year is unlikely to be any easier.
It's a depressing fact that the odds are against small business. Many fail after a relatively short trading period. Those that last more than ten years are rare.
Is it right to be a limited company?
9 January 2006
As many people running small businesses will now know, HM Revenue and Customs recently lost their attack on small businesses owned by married couples. Most people agree that this was a victory for commonsense. Many have also said that this means it still makes sense to form husband and wife companies.
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