UK small businesses waste over 100 days on admin each year

New research from technology firm Sage has identified that UK small businesses spend an average of 120 working days per year on administrative tasks. Small business staff spend an average of 5.6% of their time on back-office tasks. If staff could increase efficiency by the same amount, it would generate an estimated £33.9bn in additional GDP each year. Many administrative tasks are unavoidable.…

UK landlords say long-term growth is more important than tax efficiency

UK landlords are bullish about the viability of the buy-to-let industry. This is despite recent legislative changes, according to new research from Property Partner. Less than half of all landlords (43%) have changed their views on the buy-to-let market since April’s tax relief cut and last year’s stamp-duty hike came into effect. Dan Gandesha, CEO of Property Partner, states: “This…

Do creative freelancers need more Government protection?

An influential report from the Creative Industries Federation (CIF) – which surveyed 700 creative freelancers – has recommended the government do more to offer them protection. The creative industries are the fastest growing sector of the economy. And, with 47% of the people in these industries being freelance, it’s clear to see that the government…

4 common accounting errors small businesses should avoid

Starting out as a small business owner is hard enough without the worry of rectifying accounting errors. That’s why we’ve prepared this handy list of four common accounting errors to avoid: 1. Confusing cash-flow and profit Mixing these up can jeopardise the development of your business by leaving you unexpectedly short of cash. Cash-flow covers both your incomings and outgoings (overheads, supplier…

How will the business rate changes affect small retailers?

This April, business rate changes are coming into effect. This will drastically affect small retailers in the South East, as their rates will soar sky-high. Those in more rural areas may fare better, but there is no doubt that larger Internet corporations will be the ones who profit most from these changes. What are the…

Self Assessment tax is almost due: are you ready?

The day that many entrepreneurs dread is almost upon us. Online Self Assessment tax returns must be submitted by the end of January. Whether you’re a freelancer, contractor, specialist landlord or small business owner, this process can be complex and time-consuming, and lead to some major headaches. But, by getting prepared in advance and using…