articles: OMB

Making Tax Digital: are you ready for April 2019?

The taxman is embracing digital technology – and that means businesses need to as well. HMRC’s Making Tax Digital (MTD) initiative goes live from 1 April 2019 – so the clock’s ticking. It’s time to make sure you can meet the new requirements for digital record keeping and understand the new mechanism for submitting VAT returns to HMRC.

Retirement postponed! Lack of exit strategy a problem for SME directors

A growing number of SME company directors are now stuck running their businesses into their 70s instead of retiring, as they haven’t planned their exit early enough. 

Our latest research reveals that one in eight (12.3%) directors of small and medium-sized businesses are aged 70 or over – some 73,430 people in 2017/18*. This is up from 72,400 SME directors over 70 the previous year. 
 

Regulator issues data warning to SMEs

The Information Commissioner’s Office (ICO), the regulator responsible for ensuring companies protect customer’s data properly, has issued a warning to small and medium-sized businesses that they must comply with data protection regulations – or risk potentially hefty fines.
 

Unlocking the value in your business

A partial exit can be an ideal way to release some of the equity you have built up in your business. It can also inject additional funds to really drive your business forward. But make sure you think through all the implications before you act.