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Quest for overdraft clarity creates a hike rise in interest rates

From April 2020, the FCA will introduce new rules making the costs of overdrafts clearer meaning lenders will be increasing interest rates substantially. We, at AIT Accountants as expert accountants look at the ramifications for business.   A recent announcement that the Financial Conduct Authority (FCA) has confirmed it will introduce new rules from April […]

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Are businesses ready for the IR35 changes?

With the wheels of industry motoring again for 2020, a huge change affecting many is on the horizon, but it still appears many are not ready for the changes to off-payroll worker rules, which come into force in the spring. The changes in April 2020 mean larger private sector companies, which use contract workers operating […]

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How to forecast cash flow in a balanced way

As most small businesses know, cash flow is vital to the very livelihood of the company. The skill of generating cash, paying the workforce, bills and suppliers, whilst also having an eye on keeping some to invest in growth is what business is all about. As accountants in Solihull, it is hugely frustrating to see […]

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As tax set to go digital business need to act now

For those unaware, Making Tax Digital for Business, the Government’s policy to move all business-related tax reporting online, is about to land on us. In other words, from April 2019 most businesses will be required to submit their existing VAT records electronically. However, it needn’t be the potential headache it appears to be at first […]

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Careless accounting hits big business in the pocket

Sloppy accounting has been a reason for some of the UK’s biggest businesses being hit with large fines in the past year. A recent report has shown fines totalling £59m in the past year on businesses managed by the Large Business Directorate (LBD) for ‘Failure to Take Reasonable Care’ to ensure all information given is […]

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Why start-up businesses need an accountant

Start-up businesses have a lot on their plate, and dealing with the taxman is just one of the many burdens of a new venture. However, an experienced accountant is a valuable asset who can not only keep your financial affairs on the right track, but also be a valuable confidante. Apart from saving you time, […]