HLAS

Businesses that are sole traders, partners of trading partnerships, and members of LLPs who pay income tax on the profits of their businesses are subject to the new basis period method of taxation. For tax year 2024/25, business owners will be subject to a tax year basis of taxation. This means that they will be taxed on profits arising in the tax year concerned, regardless of their accounting date. Special rules apply for the 2023/24 tax year to help transition non-tax year end businesses from the existing accounting year end method of taxation to a tax year basis. This means [...]

The UK government have published details of the Online Safety Bill. The Online Safety Bill is a new set of laws to protect children and adults online. It will make social media companies more responsible for their users’ safety on their platforms. Details include: A guide to the Online Safety Bill; How the online safety bill will protect children; How the online safety bill will protect adults; Types of content that will be tackled; How underage children will be kept off social media platforms; How adults will have more control over the content they see; How the Bill will tackle [...]

Action Fraud has received over 30 crime reports since June 2023 relating to remote access scams targeting businesses, with victims reporting losses totalling over £3.8 million. Based on analysis of crime reports by the National Fraud Intelligence Bureau, Action Fraud advises that scammers will generally use the following tactic to target businesses: Contact the victim claiming to be a representative from their bank or from a financial services vendor used by the victim’s business. Convince the victim to install a piece of software that enables remote access to their computer, claiming that it is required to install an important software [...]

Google have launched AI (Artificial Intelligence) focused online training for people and businesses to help capture the benefits of AI, whether it’s to save time, get a new job, or grow your business. The modules are packed with practical advice and tips focused on essential AI skills including: Boost your productivity with AI This session introduces learners to cutting-edge AI tools that are already available from Google and others, to show some of the smartest ways digital-age workers can use them to save time at work and on tasks. In this session you will learn: An introduction to generative AI [...]

The trend towards paperless office solutions is rapidly increasing, whether it is to improve business efficiency or realise environmental goals. Our most profitable clients have already streamlined their internal procedures and are getting the most out of their teams by going paperless, in a variety of areas. Below are some ways you can become paperless in your business and examples of the benefits we have seen in our clients. Storing information using cloud storage Customer information, contracts, and sensitive employee information are held by most businesses and, if on paper, the risk of data loss is much greater than an [...]

More than £14 million is to be made available to unlock innovation and develop solutions in the farming sector in two new research and feasibility competitions under the Farming Innovation Programme, Defra announced earlier this month. It is part of the government’s delivery of its commitment to invest £600 million in innovation and productivity in the sector over three years and adds further support to the development and take-up of innovative practices on farms to boost productivity and sustainability whilst meeting net zero targets. The competitions are open to farmers, growers, foresters, research organisations and businesses involved in agriculture to [...]

The Ideas Marketplace is an online collaboration platform offering opportunities for innovative defence and security organisations to network and collaborate with UK government stakeholders, end-users, innovators, industry, and academia. The platform can be used to forge new relationships and foster collaboration between dynamic organisations of all shapes and sizes. The platform has been designed to enable collaboration with other innovators across the UK and to help organisations gain expertise and specialist support to develop their technologies to make them successful. See: Home | Ideas Marketplace (mod.uk)

Working capital finance solutions offer businesses the opportunity to improve cash flow. The world of commercial finance and asset-based lending (ABL) is complex and expansive with products, terminology and contractual interpretation varying from lender-to-lender. The Benefits of arranging Working Capital are: Up to 90% of outstanding invoice value can be advanced within 24 hours; Flexible lending - funding increases in line with your growth (UK and Export); Confidentiality - lenders can offer a completely confidential service – your customers need not know you have a facility in place; Lenders allow you to manage your funding at all times; Sector-specific finance [...]

Listed below are a number of live HMRC webinars that will help employers with payroll matters. The webinars are free and last around an hour. Statutory Maternity and Paternity Pay Thu 21 Sep at 9:45am Expenses and benefits for your employees - if your employees have more than one workplace Tue 5 Sep at 11:45am Expenses and benefits for your employees - trivial benefits Wed 6 Sep at 1:45pm Expenses and benefits for your employees - social functions and parties Thu 7 Sep at 9:45am Expenses and benefits for your employees – phones, internet, and homeworking Mon 11 Sep at [...]

The Health and Safety Executive have a dedicated webpage for employers reminding them of the need to be extra cautious with the safety of young people. When you employ young people under the age of 18, you have the same responsibilities for their health, safety and welfare as you do for other workers. This applies whether they are: a worker, on work experience, or an apprentice. Young people are likely to be new to the workplace and so are at more risk of injury in the first six months of a job, as they may be less aware of risks. [...]