Archived News

It is "a worrying prospect if HMRC start removing firms who offend them whilst staying within the law", says David Ingall, a partner at UK200Group firm JWPCreers LLP

Members of the UK200Group have reacted to the news that the Bank of England have confirmed a £2.2 billion shortfall in lending to small to medium businesses (SMEs) as part of Project Merlin.

The limited liability partnership (LLP) business structure was introduced in 2001 but ten years on, it seems that smaller businesses where people are a key asset may be missing out on the benefits that an LLP might offer.

Reacting to the Bank of England's decision to maintain interest rates at the lowered 0.5% for a record 24 consecutive months, David Kern, Chief Economist at the British Chambers of Commerce; Ian McCafferty, Chief Economic Adviser to the CBI; and UK200Group members Jonathon Russell and David Ingall comment

The changes to income tax rates introduced with effect from 6 April 2010 have made pre year end tax planning even more important.

Members of the UK200Group of independent accountancy and lawyer firms have commented on the report by Lord Davies that urges FTSE 350 companies to boost the percentage of women at the board table by 25 percent by 2015, or they will face government measures.

Oil prices continue their steady rise higher. The price was always on an upward trajectory but continued instability in the Middle East has quickened the pace of rises. So, what does this mean for UK business and the UK economy at large?

Accountancy firms have expressed concern that business will be left counting the cost after the government granted an additional bank holiday to allow people to watch the wedding of Prince William and Katherine Middleton.

Upbeat prices for arable land underline the value of forward planning to maximise tax benefits from farm business sales, says an agricultural specialist at the UK200Group.

George Osborne is offering new businesses up to 50,000 off their national insurance bills if start-up firms hire up to 10 staff in the first 12 months London, the South East and East of England the three regions excluded. UK200Group members comment on the scheme.

Upbeat prices for arable land underline the value of forward planning to maximise tax benefits from farm business sales, says an agricultural specialist at the UK200Group.

The 'Welfare Reform Bill' introduced yesterday was set to address imbalances in the welfare system, ensuring that work always pays better than benefits. Read article for highlights and comment from UK200Group member.

Officially, NIC are not a tax. In principle, they are collected to fund certain state benefits, lik state pensions and unemployment benefits. They aren't a tax, but they might as well be.

Paul Short, partner at UK200Group member firm Lambert Chapman comments on Business Secretary Vince Cables pledged additional funding for apprenticeships.

Read the full article for the comments made by Alan Boby, tax partner at Ellacotts LLP; Cormac Marum, partner at Harwood Hutton and Jonathan Russell, partner at ReesRussell.

Read the full article for the comments made by Alan Boby, tax partner at Ellacotts LLP; Cormac Marum, partner at Harwood Hutton and Jonathan Russell, partner at ReesRussell.

Tax industry experts give their opinions on the latest HMRC moves to combat tax evasion. From this April HMRC will begin levying penalties of up to 200% for the perceived tax evasion.

Members of the UK200Group comment on remarks from Robin Budenberg head of UK Financial Investments (UKFI), stating that breaking up the banks would have a detrimental effect on the value of those institutions in which the UK government holds shares.

The Bank of England governor Mervyn King said the squeeze on UK take home pay is necessary and the Bank will act if wage inflation becomes too high: Mervyn King has in the opinion of Jonathan Russell, partner at UK200Group member firm ReesRussell has to keep the interest rates on hold in the interest of trying to maintain what is now evidently a very fragile recovery. David Ingall, partner at member firm JWPCreers says if wages were allowed to rise then we would enter the upward spiral of inflation and that many people are going to have to reassess what necessities are.

Jonathan Russell and David Ingall partners at UK200Group member firms commented on todays initial GDP figures, which showed the UK economy shrinking by 0.5 percent in the final quarter of 2010. Many accountants acting for smaller businesses will not be surprised and the addition of the bad weather prior to the Christmas shutdown which had an adverse effect on many industries added to this figure.