In a recent news story issued by the Department for Business and Trade a consultation was launched to crack down on the use of online "subscription traps". The full story says: "New proposals to crack down on subscription traps have been unveiled today as the government launches a consultation on measures to make it easier for…
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Small businesses – top seven concerns
Small businesses in the UK are currently navigating a complex financial landscape, facing several significant challenges that impact their operations and growth prospects. Key concerns include:1. Rising Operational CostsEnergy Expenses: Escalating energy prices have substantially increased overheads for small enterprises, straining profit margins. Material and Supply Costs: Inflation has led to higher prices for raw materials…
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Reporting of Profit and Loss details when filing accounts at Companies House
Recent legislative reforms have brought significant changes to how companies report profit and loss (P&L) details when filing accounts with Companies House. These changes, introduced under the Economic Crime and Corporate Transparency Act 2023, aim to enhance transparency, simplify the filing process, and combat economic crime. Here's a short overview of these changes and when…
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Base rate cut
The Bank of England has cut its base interest rate again, this time lowering it from 5% to 4.75%. This is the second cut this year, following the reduction from 5.25% to 5% in August. With these drops, we are seeing the most significant rate reduction actions in recent years, and they will bring a…
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