With the general election approaching, there’s an air of uncertainty that could significantly impact small and medium-sized enterprises (SMEs) across the UK. One of the most pressing concerns for business owners is the potential changes to capital gains tax (CGT). As the backbone of the UK economy, SMEs rely heavily on private investment to fuel growth and innovation. 

But what happens if the rules around CGT change? Let’s dive into a topic that might not be as thrilling as your latest business venture, but it’s just as crucial – capital gains tax.

Choosing the right accounting method can make a significant difference for small business owners. For many small businesses, the cash basis accounting method offers a straightforward, less complicated alternative to the traditional accruals basis. This guide will walk you through the essentials of cash basis accounting and how it can benefit your business.

As of 1st May 2024, Companies House has implemented fee increases impacting both new and existing companies in the UK. While these changes aim to cover service delivery expenses and are not profit-driven, they present new challenges for small businesses.

This blog looks at what’s changed and how it affects small Businesses.