It appears the UK is once again on the up, as David Cameron flaunts the news that Britain’s employment rate has reached a joint highest level since 1971. The government has taken this as further evidence that the UK economy is not only still growing, it’s getting stronger too. It’s a sentiment that seems to be mirrored by the market; as the pound strengthens, wages are finally starting to outpace inflation and the standard of living in places outside of London has slowly begun to increase. Continue reading
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1,000 years of doing the same thing
The stables of US industry that are General Electric and Ford seem almost ancient when compared to the young techno-hipster firms of Google and Facebook. However, in the land of the rising sun you’ll find firms that literally stride ages – existing on an entirely different time scale. Continue reading
The Three Ingredients for Business Success
Passion, freedom and impact are the main drivers that determine the success or failure, progress or regression of small business owners. Continue reading
What is income tax?
Income tax is used to pay for state provided services, like education and healthcare. The amount deducted is based on the amount of income you receive, with the idea that everyone pays their fair share to support the United Kingdom and the services provided. Not all income is taxable and personal allowances mean that you only pay tax on a specified portion of your income. Continue reading
New EU VAT rules
Campaigners have issued a plea to the government to temporarily halt the implementation of the new European VAT rules, which came into force on 1st January 2015. As a result of the new legislation, over 200 small businesses plan to cease trading or have already done so.The legislation was originally intended to prevent large companies from dodging tax, although this appears to have backfired for smaller companies.
Businesses which sell digital services or products must now pay VAT at the rate applicable for the country of the consumer. However, this is too complex for most of the small companies, although HMRC have provided a simpler alternative, according to the founder of EUVATaction.org, Clare Josa. The website is campaigning for the implementation of the rules to be suspended.