To a casual observer, VAT is understood to be a tax levied on the goods that they buy, such as restaurant meals, consumer electronics or alcoholic drinks. While this assumption is true in many cases, the reality is actually considerably more complex. Some goods and services are exempt from VAT, with examples including insurance, charity fundraising and certain medical treatments. However, the real complications arise when it is less clear-cut if a product falls into an exempt category or not. It is in these situations that technical VAT disputes can occur, and where organisations need to fully understand the intricacies…
Author: sme-admin
According to a Gallup study, CEOs who excel at delegation generate 33 percent higher revenue than those who don’t. This is not an isolated finding. Business researchers back as far as the 70s and 80s knew that a CEO’s ability to delegate was associated with good growth and profit performance. A 2020 study went even further, concluding that SMEs need to engage all their employees in dedicated training programs on effective delegation strategies. So if we know without a doubt that more delegation equals increased profits, why do so many entrepreneurs struggle so much to do it? And the answer…
The natural reaction to scaled back governance measures is complacency, but boards must stay vigilant to maintain and enhance their reputations, says Corporate Governance Institute. There is an emerging global trend of cuts to red tape, as governments roll back on promised reforms that boards might see as overly bureaucratic. This transition has been triggered by a number of factors, including a shifting political landscape, efforts from countries and states to stay attractive to businesses, and pushback from companies against the compliance burden. A recent example is the decision of the US State of Delaware, long considered a tone-setter when…
Dr Glenn Mason, Head of Adult Psychological Therapies at Onebright shares insights from Onebright’s internal data on stress diagnoses, as well as some strategies to implement to prevent stress, burnout and other more serious mental health issues. April is Stress Awareness Month, and this year’s theme is about approaching people with kindness, compassion, and acceptance, no matter what challenges they face. This year especially it seems as important as ever to bring this into the workplace and help employees who may be dealing with a range of situations causing stress. From financial worries caused by the ongoing cost-of-living-crisis, to problems…
Small business owners are facing an ongoing challenge: the inability to fully disconnect from work. According to research by Uswitch.com, a staggering 70% of entrepreneurs feel guilty taking time off from their businesses, even during annual leave. The study surveyed 1,000 small business owners across the UK and sheds light on the pressure entrepreneurs face when it comes to stepping away from their work. Table showing how guilty entrepreneurs feel when taking time off from their business. Source: Uswitch.com The majority (65%) of entrepreneurs work between 30 to 50 hours per week, with almost half of them (40%) exceeding 40 working…
Tax return anxiety is very real and with over 12.5K TikTok posts offering advice, it’s clear many are turning to unverified content for reassurance. With this in mind, experts at Nottingham Accountants Archimedia Accounts sought to debunk some misleading tax advice. The most misleading tax advice and what you should be doing: You can claim anything as a work expense if you just say it’s for work Most people can’t claim everyday purchases as work expenses just because they use them at work or say they’re work-related. Tax deductions must be directly tied to earning your income and not just vaguely associated with your job. Chris…
Running a sports club or venue in the UK comes with both rewarding opportunities and serious financial demands. Managing overheads, retaining members, and staying competitive for funding are common challenges across the sector. From local football clubs and martial arts schools to leisure centres and athletics tracks, financial sustainability depends on a balanced approach to revenue growth, cost control, and community engagement. A well-managed club or venue can thrive by making the most of its facilities, diversifying income, and building long-term relationships with members and partners. Below is a set of practical, effective ways to strengthen financial performance while continuing…
By Sabine Leveiller, VP of Marketing for Europe at VistaPrint Starting a business is a significant challenge, but scaling one is an even greater hurdle. Many entrepreneurs quickly realise that launching a company is just the beginning—the real test lies in growing it sustainably and making the leap from startup to scale-up. Having worked in business and marketing for years, I’ve witnessed the journeys of small business owners (SBOs) across the UK. While some have thrived and expanded internationally, others have struggled, particularly amid challenges such as the cost-of-living crisis. One thing remains clear: small businesses need greater support to…
Reward Gateway Edenred’s Economic Value Study highlights the impact of employee engagement on business performance, finding a clear correlation between higher employee engagement and improved business performance. Key findings include: Organisations offering food vouchers or healthy office snacks report 11% higher employee retention rates Desk-based organisations providing private medical insurance experience 14% better retention rates, 12% better talent attraction rates, and a 9% higher employee wellbeing score Frontline organisations offering personal accident insurance see a 17% higher wellbeing score, 26% better retention rates, and 19% better talent attraction rates Implementing profit share bonuses results in 7% better alignment between employee and company values, 11%…
Operating a construction site in a remote location brings a unique set of challenges. Without access to main services, urban infrastructure, or nearby suppliers, it’s essential to have the right equipment and systems in place to keep your site running smoothly and safely. Whether you’re managing a rural development, infrastructure project, or temporary works in a hard-to-reach area, discover the core equipment every remote construction site should consider. Site Planning and Temporary Infrastructure Strategic planning is essential before work begins—especially in remote areas where self-sufficiency is key. Establishing core infrastructure early helps avoid costly delays. Reliable access is a priority.…