Skip to main content Skip to search

Archives for Uncategorized

The Government’s decision to delay by one year the implementation of potentially damaging VAT changes for construction companies is a victory for common sense, says the Federation of Master Builders (





Reverse charge VAT was due to come into force from 1st October 2019 but the Government today announced its decision to delay implementation until 1st October 2020 after a coalition of construction organisations, led by the FMB, wrote to the Government to point out the damaging impact this badly-timed policy would have on the sector.

Brian Berry, Chief Executive of the FMB, said: “I’m pleased that the Government has made this sensible and pragmatic decision to delay reverse charge VAT until a time when it will have less of a negative impact on the tens of thousands of construction companies across the UK. To plough on with the October 2019 implementation could have been disastrous given that the changes were due to be made just before the UK is expected to leave the EU, quite possibly on ‘no-deal’ terms. The situation hasn’t been helped by the poor communication and guidance produced by HMRC. Despite the best efforts of construction trade associations to communicate the changes to their members, it’s concerning that so few employers have even heard of reverse charge VAT. Indeed, according to research by the FMB published in July, more than two-thirds had not heard of the VAT changes and of those who had, around the same number hadn’t prepared.”

Berry concluded: “It is reassuring that the Government has listened to the construction industry, which has come together to make clear to the Government that sticking to the October 2019 timetable could lead to a loss of productivity, reduced cashflow and in the worst cases, lead to a hit on jobs, tipping some companies over the edge. What’s required now is for the Government and industry to work together to deliver a sector-wide communications campaign, which must include plain English guidance on the changes. We also want to work with the Government to deliver workshops aimed at construction employers, held in locations across the country, to explain what’s happening and why.”

Read more

Why You Should Self-Fund Your Business


Starting a business is one of the hardest things you’ll ever do. It takes time, energy, and a whole lot of money. More money than you have in your bank account. That means you’ve got to get funded, right? Wrong. There are some great reasons to skip funders and do it alone. For one self-funding forces you to develop your core entrepreneurial skills, and you will need to demonstrate many. And you get to retain control of your business which you may lose when taking out loans or partnering with a “money guy”. https://bit.ly/2NxniOk 

Read more

What every founder should know before they crowdfund


Despite the economic uncertainty surrounding Brexit the appetite for crowdfunding is stronger than ever with investor’s keen to support and profit from backing companies without taking undue risk. But any founder should think long and hard before they crowdfund as it’s not just about finding where the big money is. It’s about simple tips, like users and customers can make the best investors because they know the platform or product intimately so will have a passion for it. And there’s more here: https://bit.ly/2LrqRoO 

Read more

20 Tips to Effectively Reduce Office Clutter


Research shows the productivity of a business can be seriously affected by the amount of clutter around the work space, with smaller office areas most likely affected. And a decrease in productivity usually means a decrease in profits. Yet simple decluttering rituals can help solve these issues whilst keeping team members happier too. Digitise all files, remove physical files, shred all old documents and stop using post it notes are just four of 20 simple yet effective tips to remove office clutter: https://bit.ly/32AZBcY 

Read more

The rising trend of the ‘Olderpreneur’ start-up


There’s been a sharp rise in the number of people in or nearing retirement who start their own business. The ageing population and a changing workplace pose serious questions for older professionals looking to maintain earnings as the official retirement age rises. And then there’s a perception of age discrimination, but this won’t apply to those who run their own company. With money and assets available, and a change in the pension scheme, there’s never been a better time to be an ‘olderpreneur’. https://bit.ly/2JSks2T 

Read more

How the Naked Chef got caught with his pants down


The ‘Naked Chef’ Jamie Oliver has seen his second restaurant group collapse with about 1,000 jobs lost. This for the celebrity chef who shot to fame about 20 years ago and later had a string of successful books, TV shows and other licensing deals. But he’s also had his fair share of non-successes too, admitting that 40% of his business ventures were failures. So why did Jamie’s Italian misfire so woefully? Here an accounting specialist for growing businesses gives four areas where things went awry. https://bit.ly/31p3Vvm 

Read more

How the Naked Chef got caught with his pants down


The ‘Naked Chef’ Jamie Oliver has seen his second restaurant group collapse with about 1,000 jobs lost. This for the celebrity chef who shot to fame about 20 years ago and later had a string of successful books, TV shows and other licensing deals. But he’s also had his fair share of non-successes too, admitting that 40% of his business ventures were failures. So why did Jamie’s Italian misfire so woefully? Here an accounting specialist for growing businesses gives four areas where things went awry. https://bit.ly/31p3Vvm 

Read more

Proposed sweeping new powers for Companies House


Last month the Department for Business, Energy & Industrial Strategy issued an 80-page consultation document detailing the intended increase of powers for Companies House. It stated that a “major upgrade” of Companies House systems is needed and, if all proposals were applied, it would be the biggest change since “the Register of Companies was created in 1844”. So what are these proposals and what effect will they have on the private limited company and their accountants? Here’s some considerations: https://bit.ly/2Wx8Zdg 

Read more

Millennials ‘the most entrepreneurial generation’


The millennial generation is the one who is most keen to set up their own small businesses in the future – and has the right attributes to make their ventures successful, according to a recent study. Exactly half of adults aged 23 to 38 expressed their hope that they will one day run their own business, with 35% going as far as to call it a life goal of theirs. And the motivation to set up a successful SME was not just about higher financial return but involved work-life balance and job security.https://bit.ly/2UHeIBn 

Read more

The perks of being an al desko worker


When the weather is inclement taking your lunch at your desk has obvious appeal because who wants to eat a sandwich in the park in the wind and the rain? But should you be eating while working and who benefits, you or your employer? Can an employer dictate what you can and cannot eat in the workplace and should they subsidise lunch as a perk if you are eating while working? Would it be better to “get off the hamster wheel” and take some time away from the desk and mingle with colleagues instead? Some thoughts: https://bit.ly/2Het1Gc 

Read more