2% of small business owners have faith in late payments commissioner

Survey evidence has revealed that a tiny proportion of the smallest UK businesses believe that the newly appointed Small Business Commissioner will tackle the late payment crisis.
Research from cloud accounting software company FreeAgent shows that just 2% of UK microbusinesses believe that the new Commissioner, Paul Uppal, will take the challenge ‘seriously’.
Other research from the company shows the scale of the problem.

Small businesses waste 120 days a year on admin
Editor | 2 October 2017
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Small businesses spend an average of 120 working days each year on repetitive administration tasks, with accounting tasks costing firms the most.

Sage, a market leader in cloud-based accountancy software, found that around 5% of a small businesses man hours are taken up by administrative tasks globally.

Compared with other countries in the study, Britain performs slightly worse with around 5.6% of staff time spent on back office tasks like invoicing and recruitment.

Sage argues that productivity is suffering because small businesses are spending too much time on tasks that don’t add value to the business.

Small Business Advice Week: Make sure you get paid on time

This week is Small Business Advice Week. Freelancers and other micro business owners can get lots of useful help and advice by visiting the Small Business Advice Week website and they can join in productive conversations happening on Twitter by using the hashtag #SBAW.
For our part, we want to address one of the biggest issues faced by small business owners – how to make sure they get paid on time.

1 in 5 pensioners face tax return ‘misery’

We all know that filling out a tax return can be painful, but while you might have thought that retirement would release you from HM Revenue & Customs’ clutches, that no longer seems to be the case.
The number of pensioners who filed a tax return last year hit 1.7m, a figure that has jumped significantly in the last two decades.
Figures obtained from HMRC by insurance company Royal London show that in the 2015-16 tax year, 1.7m of the 10m who completed an individual tax return were aged 65 or older.
More than 250,000 of these tax return pensioners were aged 80 or over.

Why high growth business choose cloud accounting software
Editor | 7 August 2017
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Businesses that are on the fast track to growth routinely choose cloud accounting software to handle their financial management, as do business owners who are determined to make their new venture a success.
The rocketing popularity of cloud accounting software like FreeAgent and Xero is a trend that has disrupted the traditional accounting industry.
Now, start-ups and business targeting double and triple-figure growth are more likely to pursue a cloud-based solution, with support from a modern accountant like CloudAccountant.co.uk, rather than going down the traditional accountant route.
So why do so many businesses with steep growth trajectories choose cloud accounting software?

Xero: Fifth of Accountants still use ‘Dark Age Technology’

Cloud-based software company Xero has urged British firms to embrace new technology and step out of the ‘dark ages’ of accounting.
If they fail to update their systems, businesses and their accountants could be left behind in the middle of upcoming changes like Making Tax Digital.
The New Zealand software company kicked off the London-leg of the Xerocon 2017 tour by releasing a new ‘Digital or Die’ report, highlighting some of the most important issues facing the accountancy industry.

Boosting profitability with cloud accounting software
Editor | 16 September 2017
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Whether you are a freelancer, a small business or an accountant working freelancers and small businesses – improving profitability should be a key part of your financial management.
To improve profitability, you need to be more efficient with time and keep a sharp eye on invoices, expenses and the return on investment.
Cloud-based accountancy software systems Xero and FreeAgent help businesses track all of these factors in their projects facilities.

FreeAgent: Just 51% of invoices paid on time

Research showing that almost 50% of invoices are not paid on time has strengthened calls for the government to tackle the late payment crisis affecting freelancers and other microbusinesses.
Conducted by cloud accountancy software company FreeAgent, the research analysed 50,000 businesses and hundreds of thousands of invoices from the last year.
Last year, the government pledged to tackle the late payment of invoices. In part this was to be done through a Small Business Commissioner, who would act as a champion for Britain’s busy small businesses. But this post has yet to be filled.

FreeAgent drop CIS functionality into mobile version

Cloud Accounting software specialists FreeAgent have now pushed out their CIS functionality to the mobile version of the product on both IOS and Android.
The ability to generate and send an invoice from a mobile device while out on site can help contractors to get paid quicker and keep all the paperwork up to date from the relative ease of FreeAgent’s intuitive mobile interface.

CloudAccountant.co.uk shortly to be awarded A2X Expert status

Amazon’s financial performance in the quarter ended March 2017 marketplace sellers responsible for 50% of the units sold via the website.

Sales during that period were $35.71 billion, so that’s a lot of money being made through Amazon’s marketplace.

If you want to get in on some of the Amazon reseller action Amazon have some handy guides that you can have a look at and see if it is something you fancy.

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