Think Tank Calls for Single Consolidated Tax on SMEs

The Centre for Policy Studies has proposed a new simple consolidated tax (SCT) to replace the four main taxes currently paid by small and medium sized firms.

The radical proposal would see corporation tax, employer’s national insurance, VAT and business rates consolidated into one tax paid by firms turning over less than £1 million.

Small businesses are the heartbeat of Britain’s economy. Some 5.6 million small firms employ around 13 million people and generate three-quarters of all new jobs.

Xero Launches First TV Advert

Following the introduction of Making Tax Digital for VAT, cloud accounting software provider Xero has launched its first UK television advert.

The not-so-typical accountancy ad shows a business owner come stunt driver changing the back wheel of his car while still in motion.

Six Small Business Insurance Policies You Should Consider

When you’re setting up a new business, the last thing you want to think about is what happens if everything goes wrong. But accidents do happen and, if you aren’t insured, they can have a dramatic impact on your fledging company.

Some types of insurance are compulsory for businesses. Others should be considered carefully while you are setting up.

There may even be one or two types of insurance on this list that you aren’t even aware of.