Communication

Under the Criminal Finances Act 2017 (CFA), companies and partnerships may be criminally liable for failing to prevent their employees from criminally facilitating tax evasion. A potential defence can be utilised, in cases where the business has put into place a system of reasonable prevention measures. Here, we take a look at the key aspects of the Act and the implications for your business.

Ensuring adequate finance is a fact of life if you run a business. Whether you are looking to expand, undertake a specific project or simply fund your day to day purchases, finance is essential. Obtaining finance is not always easy, especially if yours is a small business and particularly if it is a recent start-up. Borrowing may be difficult due to lack of security. A grant may be the answer.

Recent surveys indicate that the adverse impact of absence on business profitability today is significant, with thousands of man hours lost every day. Recent statistics show that an average of 4.3 days are lost each year per employee with a median cost of £522 per employee. Approximately two-thirds of working time lost to absence is accounted for by short-term absences of up to seven days.

Whether we are producing your accounts or carrying out your annual audit, being prepared for us will ensure our work is carried out smoothly and efficiently and with the minimum disruption to yourselves. You may also be able to help by preparing some of the routine schedules for us. This will mean our time can be better spent advising you on the running of your business.

It is the ambition of many people to run their own business. Some may have been made redundant and find themselves with free time and financial resources. Others make the decision to start up in business to be more independent and obtain the full financial reward for their efforts. Whatever the reason, a number of dangers exist. Probably the greatest concern is the possibility of business failure.

When it comes to choosing the right legal structure for your business, there are many deciding factors that you need to consider. Your ideas are excellent, your market research is underway and you have written a detailed business plan, but you need to explore the differences between being self-employed or a limited company.