Business owners who are minded to celebrate the forthcoming Christmas break with their staff are reminded that there is a tax-free allowance for the provision of an annual party or other event for the benefit of staff and their partners. The present limit to tax relief is £150 per head. If this amount is exceeded, the full cost of the benefit is taxable not the excess over £150.
 

If you pay for the fuel used in your company car you are entitled to recover the cost of the fuel – for business journeys - based on agreed Advisory Fuel Rates (AFRs), from your employer.

If your business processes materials or assembles goods for sale it will usually need to keep a stock of items to ensure that future sales can be met.

Our latest OMB survey found that nine out of ten business owners are worried about business costs. Here are four ways small and medium sized businesses can get financial support:

Shareholder directors of owner-managed businesses normally take a minimum salary and any balance of remuneration as dividends (distribution of company profits). Historically, dividend have been taxed as unearned income and this tends to reduce National Insurance Contributions (NIC), and in some cases income tax. 

The Employment Allowance has risen from £4,000 to £5,000. This means that businesses and charities whose NIC liabilities were under £100,000 will be able to claim up to £5,000 off their employer National Insurance Contributions (NICs) bill.

Our latest Owner Managed Business (OMB) survey shows that although the proportion of businesses
saying they are highly confident in the overall outlook has more than doubled over the past 12
months, business owners are not out of the woods yet. Could technology be the key to business recovery post-pandemic?

The coronavirus Restart Grant scheme has been put in place to support businesses in reopening safely as COVID-19 restrictions begin to lift.

The Coronavirus Job Retention Scheme (CJRS) has now been extended until the end of September 2021.

Moore UK have completed their second pulse survey of owner managed businesses (OMBs) across the UK. 

•    Early tax rises would hit business and consumer sentiment
•    Businesses also want assistance targeted at those that need it – more means checking and anti-fraud checks
 

On the 19th August, it was announced by the Chancellor that there would be more grants available to help them get back on their feet from the impact of the Coronavirus crisis.

On the 19th August, it was announced by the Chancellor that there would be more grants available to help them get back on their feet from the impact of the Coronavirus crisis.

The impacts of Covid-19 are far reaching. Almost every business has been impacted to some degree. So what action can businesses take to weather the storm? There is currently a huge amount of information in the ether to absorb, so to help navigate it all, Moore South have compiled a user friendly list of measures to help businesses trade through.

The impacts of Covid-19 are far reaching. Almost every business has been impacted to some degree. So what action can businesses take to weather the storm? There is currently a huge amount of information in the ether to absorb, so to help navigate it all, Moore South have compiled a user friendly list of measures to help businesses trade through.

For years, the UK and EU have shared the objective of creating a level playing field for new market entrants in the financial services and payments industries while ensuring the proper protection of consumers’ data.

The decision to sell your business is a significant step, so it’s important you’re prepared and understand the process.

This year we have found a slight bounce back in confidence among OMBs in the sector in achieving revenue and profit targets.

One of the biggest challenges arising from Brexit is the management of exchange rate fluctuations.  For many owner managed businesses (OMBs) this can be something that they are not entirely comfortable with.