Business

Insight / Pub and bar insolvencies jump 13%

More pub and bar companies are going bust due to Brexit-driven cost rises exacerbated by teetotal millennials

Insight / Xero sees 51% increase in UK accounting software business

Cloud accounting software specialist Xero has reported a 51% hike in both UK revenues and customers in the last six months, citing HMRC’s Making Tax Digital as a factor in its growth

Tax / Pros and cons of four-day week

Labour party plans for a four-day week have been criticised by a think tank which claims the impact on productivity would cost up to £17bn a year, but there are advantages of offering a more flexible work environment to employees 

Accounting / 10-year ban for ex-BHS director Dominic Chappell

Former BHS director Dominic Chappell has been disqualified for 10 years, and his father given a five-year ban, following an Insolvency Service investigation into a series of financial dealings involving the retail chain

Insight / 2,500 jobs at risk in Mothercare administration

High street parent and baby retailer Mothercare has announced it is to appoint administrators to its active trading subsidiary

Tax / 'Broken' business rates regime needs overhaul

MPs are calling for fundamental reform of the business rates system, which they describe as unfair and ‘broken’, and are urging a future government to examine alternatives as soon as possible

Tax / Budget push-back delays Finance Bill

The announcement of a general election on 12 December 2019 means the Finance Bill 2019-20 will not be passed in the current parliamentary session

Tax / OBR to release financial forecasts despite Budget cancellation

The Office for Budget Responsibility (OBR) is to press ahead with publishing revised public finance forecasts as planned, rather than risk failing to meet its statutory duties, despite the Chancellor’s decision to cancel the Budget

Insight / Brexit extended even further to 2020

The EU has agreed to the UK request for a Brexit extension to 31 January

Tax / SMEs losing out on apprenticeship levy funding

There need to be urgent reforms to the apprenticeship levy, including additional funding, to prevent the loss of up to 75,000 apprenticeships at SMEs

Insight / Call for tougher action on ‘unacceptable’ financial services IT failures

MPs are demanding regulators take action to reduce the current level and frequency of IT failures in the financial services sector, which a Treasury select committee report has branded ‘unacceptable’

Accounting / Dividends and distributable profits: part 4

The payment of dividends can be a difficult area with even listed companies falling foul of the law in recent years. In the fourth of eight articles, Croner-i tax and accounting writer David Duvall takes a detailed look at realised profits and losses

Tax / 6 November Budget day cancelled

The Budget has been cancelled due to the ongoing Brexit discussions and delays, and the PM’s wish to hold a general election by 14 December

Tax / UK ranked eighth in world for ease of doing business

The UK has retained its position in the World Bank's  top 10 ranking of countries that are easy to do business in, moving up one place to number eight 

Tax / HMRC has no figures on cost of post-Brexit customs procedures

In a session before the Treasury Committee, HMRC chief told MPs that it had not calculated the administrative cost of the government’s Brexit deal on exporting businesses and that several thousand high value exporters were not even ready for a no-deal Brexit
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