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Six tips for a successful business expansion

Every business looking to expand needs to have a detailed vision of what it wants to achieve – whether this is expanding into new markets, attracting new customers, developing new products or services, or acquiring another business.

To do this successfully there are a few things to consider:

Don’t be caught out by the change in basis period – plan ahead

From 6 April 2024, all unincorporated entities (sole traders and partnerships) will be taxed on profits generated in the fiscal year and not those aligned to the business’s accounting year-end. Planning your income and expenses now may help you manage your future tax bills.

3 common VAT mistakes farmers can avoid

In order to avoid HMRC penalties it is important to record expenses and claim VAT correctly for your farm business. Genuine mistakes do happen but there are some things to bear in mind that will help minimise the chance of triggering an inspection.

How to get increased finance for your farm business

As the challenges faced by farm businesses continue to evolve, the demand for additional borrowing facilities is on the rise.

Working on your business, not just in it: the path to sustainable growth

As a business owner, you've likely experienced the daily grind of running your enterprise – dealing with operations, managing employees and handling countless tasks that seem to keep you busy from sunrise to sunset. While these day-to-day responsibilities are essential for keeping the wheels turning, they can sometimes distract you from the bigger picture.

Struggling SMEs rate Government support ‘poor’ in challenging economic climate, survey finds

One in 11 SME businesses say their priority for the next three to six months is survival, with 77% rating current government support as ‘poor’. These are two of the key findings from the latest survey by the Association of Practising Accountants (APA).

Scottish business confidence is positive but still weak, says ICAEW report

Scottish business confidence has moved into positive territory for the first time since March 2022, according to the latest ICAEW Business Confidence Monitor report for Scotland.

Should I set up a trust?

Trusts have become something of a political football in recent years and their use is often called into question with the implication that by putting a trust in place, the motives for doing so, are driven by tax avoidance and the wish to be not transparent about the ownership of the assets.

Changes to HMRC penalties and interest

New penalties for submitting VAT returns or paying VAT late came into effect on 1‌‌‌ ‌‌January 2023, and in the last month, we have started to see HMRC issue penalty correspondence to our clients.

Farming family's passion and dedication to producing premium Lakeland Lamb for Booths

Lakeland Lamb is the product of a fifth-generation farming family. At the heart of their business is the breeding and rearing of premium lamb from Herdwick Sheep and cross-bred Herdwick-Continental breeds, which they supply to Booths meat counters.