Latest News

90% of northern owner managed business fear that inflationary pressures will impede their growth in 2022

Inflationary pressures pose a huge risk to the SME sector with 90% of owner managed businesses in our region reporting these will impede their growth in 2022.

Spring Statement 2022 - Businesses

Whilst the support for Business was less apparent during Rishi Sunak’s Spring Statement, the focus was on consultation over the summer with a view to cutting taxes and encouraging investment for business in the Autumn.

Spring Statement 2022 - Individuals and Families

The Chancellor confirmed that from 6^th July he will raise the NIC threshold for employees and the self-employed, so that it matches the £12,570 income tax personal allowance, which will help many taxpayers who are currently facing a cost-of-living squeeze.

Spring Statement 2022 Overview - Capital, People, Ideas

As Rishi Sunak opened his Spring Statement his focus was understandably on the war in Ukraine and the devastating humanitarian impact.

Spring Statement 2022 – Out of Covid and into a Cost-of-Living Crisis

It has been reported in the Financial Times that the Chancellor is preparing to face pressure from the PM to offer new help to households while balancing the fears that inflation could rise to 7% in May.

Delay to New HMRC VAT Penalty Charges

This new regime is designed to be proportionate, penalising businesses who persistently miss their submission obligations, rather than those who make occasional mistakes. This is good news for businesses who make occasional late returns or payments, as the penalties in these circumstances will be relatively small.

Rising payroll costs, what’s next?

There are various economic factors impacting the increase in wages, with some changes to taxation and minimum wages to arrive in April 2022. Action is needed to navigate your company through these changes. Before we talk about minimising risk, we’ve put a brief overview of the impact to the payroll cost of your business to come.

Armstrong Watson acquires Grants Chartered Accountants

Armstrong Watson has strengthened its aim to be the ‘go to’ accountancy firm for family and owner-managed businesses across the north after it acquired the successful, long-standing Leeds practice Grants Chartered Accountants.

Scottish Business confidence improving but Omicron having an effect

Although Scottish Business Confidence is improving, by December Omicron concerns slowed growth in activity to its lowest for ten months.

Have you checked your business energy bills?

With energy prices at record rates in the UK, and experts not expecting a return to the levels we saw at the start of 2021 until later this year, many businesses will be looking at ways they can minimise the impact on their cashflow.

An increase in global demand and supply shortages has meant that wholesale prices have surged. Not only are businesses facing soaring energy costs, many are also continuing to feel the strain of the pandemic.