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Four in ten SMEs ‘increasing prices as result of higher wages’ August 21, 2019

A report published by the Federation of Small Businesses (FSB) has suggested that four in ten small firms are having to increase their prices as a direct result of higher wages. According to the FSB, small business owners are having to cut profits and productivity-enhancing investments in order to better absorb ‘inflation-beating wage increases’. An
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Chancellor states stamp duty liability won’t be shifted to property sellers August 21, 2019

Chancellor Sajid Javid has stated that he has ‘no plans’ to shift liability to pay stamp duty from house buyers to house sellers. Stamp Duty Land Tax (SDLT) is payable by the purchaser in a land transaction occurring in England and Northern Ireland. For land transactions occurring in Scotland, Land and Buildings Transaction Tax (LBTT)
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BRC urges Chancellor to take action on business rates August 21, 2019

The British Retail Consortium (BRC) has called for Chancellor Sajid Javid to ‘take action’ on business rates. More than 50 retailers have signed a joint letter to the Chancellor, urging him to ‘fix the UK’s broken business rates system’. The letter has been signed by major retailers, including supermarkets, fashion chains and homeware and department
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UK digital businesses ‘struggle with complexity of tax compliance’ August 16, 2019

Research carried out by HMRC has revealed that UK digital businesses ‘struggle with the complexity of tax requirements’. Market research company Ipsos MORI carried out the study on behalf of HMRC, and interviewed 50 UK digital tech businesses across a range of growth stages, sizes and sectors. According to the research, digital businesses feel that
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Cyber-attacks on small businesses cost £4.5 billion, according to research August 16, 2019

Cyber-attacks on small businesses cost £4.5 billion, according to research The annual cost of cyber-attacks on UK small businesses is £4.5 billion, according to research conducted by the Federation of Small Businesses (FSB). One in five small businesses suffered a cyber-attack between January 2017 and January 2019, the FSB found. In total, over seven million
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