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Smith Butler
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As we move ever closer to the Making Tax Digital deadline of April 2019, new stats out reveal that 27% of small businesses are looking for a new accountant or bookkeeper to provide proactive advice on a monthly basis. @AccountancyAge has teamed up with Xero to give some tips on how accountants can make the most of this opportunity and how Xero can help. https://www.accountancyage.com/2018/11/15/xero-is-preparing-for-making-tax-digital/

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As the Brexit negotiations rumble on, HMRC has been openly criticised by parliament’s spending watchdog for failing to provide advice for small businesses on what to do in the event of a no-deal Brexit. As we approach the 2.5 year point from the EU referendum and the decision to leave, HMRC has responded to the criticism stating their advice in this area was ‘well developed’. You can find more info in this article. https://www.theaccountancy.co.uk/articles/watchdog-criticises-hmrcs-delay-in-advising-smes-on-brexit-13858.html
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While technology is generally lauded as a positive development, there are some who argue the opposite. With many industries, including our own, planning for the ongoing increasing impact of digitisation on our daily work life, could it be that the ongoing advancement in the tech world might actually be detrimental to humans? Interesting read on technology saturation in the workplace. https://www.accountancyage.com/2018/10/31/are-we-at-risk-of-a-technology-saturated-future/
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With November just around the corner, the run up to Christmas will inevitably start to impact on businesses as staff parties are planned, holidays are booked and, for business owners, the planning begins to ensure that despite all this, it’s business as usual. Monetary bonuses, once thought of as only applicable to those in the financial world, now seem to have gone mainstream, in a recent survey 56% of those aged 18-25 stated that they expected a financial bonus from their employer. We enjoyed this article with equally as valuable bonuses. https://www.theaccountancy.co.uk/articles/great-alternatives-to-monetary-christmas-bonuses-for-small-businesses-13781.html
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With #GDPR coming into force last May, and the accounting industry in the first stage of Making Tax Digital, just how easy it is for your business to integrate artificial intelligence and automation? This article in @AccountancyAge discusses what needs to be done in our industry, but we feel it’s just as helpful for businesses in other industries. https://www.accountancyage.com/2018/10/18/accountancy-and-technology-the-journey-to-cognitive-intelligence/
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It’s fair to say that we have mentioned the importance of digitisation in the accountancy industry as it moves towards Making Tax Digital, but did you know that failure to innovate and move with the times could threaten the viability of 30% of small businesses in just two years from now? Business Matters Magazine looks at the importance of innovation in the small business world and suggests how you could get started.
https://www.bmmagazine.co.uk/news/failure-to-innovate-threatens-to-put-a-third-of-smbs-out-of-business-by-2020/
Business Matters
Business Matters
bmmagazine.co.uk
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As the accounting world moves towards digital accounting, will it be acceptable for a computer to issue a penalty notice on behalf of HMRC? @AccountingWeb takes a look at the rulings in three recent cases when a penalty was issued but no ‘flesh and blood’ officer was found to be involved. It makes for an interesting read. https://www.accountingweb.co.uk/tax/hmrc-policy/computer-acts-as-the-hmrc-officer
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With the Prime Minister returning from Salzburg following the less than enthusiastic response to her Chequers deal by the EU, @GuardianBusiness presents its monthly analysis of how the #Brexit negotiations affect the UK economy. Looking at key indicators such as inflation, pay growth, public finances and more, it compares the predictions with the current situation.
https://www.theguardian.com/business/2018/sep/27/how-has-the-brexit-vote-affected-the-uk-economy-september-verdict
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With the Accountancy Industry moving increasingly towards digitisation, thanks in no small part to Making Tax Digital, and with other industries not far behind, ensuring that your business is clued up on cybersecurity is essential. Small businesses can often find allocating the necessary budget daunting, but this article looks at the potential consequences along with how to prevent and recover from a cyber attack. https://smallbusiness.co.uk/small-business-cyber-security-an-essential-guide-2545326/
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As we approach the six month countdown to Brexit, and the EU/UK negotiations appear to still be deadlocked, just what will be the options for businesses in the event of a ‘no deal’? 25 notices have been publicised by the UK Government detailing what will happen when it comes to financial services, VAT and trading, farming and rights in the workplace. With more notices to come later in September, does your business have a plan in place?
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