According to MarketFinance Business Insights, small and medium-sized enterprises (SMEs) are experiencing greater delays in receiving payments, with the average length of time doubling from 12 days to 23 days over the past year.
HM Revenue & Customs (HMRC) has launched an updated Check for Employment Status for Tax (CEST) service ahead of the introduction of the IR35 off-payroll working rules for the private sector on 6 April 2020.
The amount of VAT collected in the last 12 months has risen to a record £133 billion, with a significant contribution from the retail and wholesale sectors.
According to accounting software provider, QuickBooks, over 50 per cent of UK small and medium-sized enterprise (SME) owners have made a mistake when filing their VAT returns, while just a quarter (25 per cent) feel confident that they have filed their VAT accurately.
According to the latest research, two-thirds of employees do not feel comfortable talking about their finances at work, despite more than a fifth of people struggling to make ends meet.