TS Partners
UK business expect growth in 2023.
  • 16
  • May
Only about half of UK SMEs ‘are actually profitable’

  With the last year or so having seen the widespread removal of coronavirus restrictions, many small-to-medium-sized enterprises (SMEs) in the UK might have reasonably hoped that 2022 would be a year of sterling recovery for their businesses. And to a large extent, that has proved to be the case for some firms. But for…

  • 9
  • May
Big high-street names and independent retailers both “open to the possibility” of an Online Sales Tax

Independent shops have written to the UK’s Chancellor of the Exchequer, Rishi Sunak, expressing their openness to the notion of an Online Sales Tax (OST), as a potential solution for funding a major reduction in business rates.  Crucially, the independent retailers – under the banner of the British Independent Retailers Association (Bira) – have been…

  • 3
  • May
Rapid drop in UK retail sales as consumers worry about escalating energy costs

While the cost-of-living crisis has long been far from an abstract concept for many people – the impacts being very much felt in their living standards – we are now starting to see many of those impacts filter through in terms of cold, hard data that spells bad news for UK business.    Consumer spending…

  • 3
  • May
Business figures react to Government decision to not impose further post-Brexit import checks

Key observers from across UK business have given a largely positive reception to the Government’s announcement that it will not put in place additional checks on goods arriving in the UK from the European Union (EU) – although port operators expressed anger on the basis of having spent time and money preparing for new checks…

  • 22
  • Apr
More than a third of SMEs in the UK unsure how they will be impacted by Making Tax Digital

Over a third of the UK’s small-to-medium-sized enterprises (SMEs) are unsure how the UK Government’s Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) plan will affect them, as HM Revenue & Customs (HMRC) continues its push to digitise tax for businesses.  This finding emerged from a poll by a cloud accounting specialist,…

  • 13
  • Apr
UK labour market ‘grew at fastest rate since before the pandemic’ in March

While many questions continue to be asked about what effects the cost-of-living crisis and the war in Ukraine will likely have on the economy and jobs situation in the UK, there was at least good news on that front during March.   Positive findings from a leading business index  According to an index measuring business…

  • 7
  • Apr
Small-business tax cut ‘worth up to £1,000’ takes effect – but a ‘perfect storm’ puts many firms in peril

You probably won’t need an accountant in Devon or Somerset from our own team at TS Partners to tell you that these are pressured times for ‘UK plc’ – indeed, your firm is likely to have had plenty of direct experience of precisely that.  Many UK businesses, then, will probably have at least welcomed the…

SME Optimism
  • 6
  • Apr
‘Four in 10’ UK Small Businesses Intending to Recruit New Staff During 2022

With each passing day, it seems that more evidence is filtering through of rising business optimism in the UK. One such indicator of this is an article from Business Leader, citing a private equity house’s report that claimed the British economy saw its quickest annual growth rate on record in 2021.  What exactly did the…

Manufacturing Sector
  • 4
  • Apr
Manufacturers in South West England ‘lead the UK for job creation in 2022’

The findings of a new quarterly survey, as reported by the BusinessLive website, have revealed that the manufacturing sector in the South West has enjoyed a strong start to 2022, and is even leading the country in creating jobs.  The most recent quarterly manufacturing outlook survey from the organisation Make UK, which represents manufacturers across…

  • 23
  • Mar
Has the UK Government taken the right approach with its new tax on plastic packaging?

A preoccupation of many a company working alongside a chartered tax adviser in South West England at the moment, is the UK’s new plastic packaging tax, or PPT. The new tax takes effect from 1st April, and will involve plastic packaging that is manufactured in or imported into the UK being charged at a rate…

Online Sales Tax
  • 8
  • Mar
UK Government publishes early-stage consultation on possible Online Sales Tax

On 25th February, HM Treasury confirmed that the UK Government had set out an early-stage consultation in relation to the potential implementation of an Online Sales Tax (OST), considering reasons both for and against such a tax.  Why has the Government made this move now?  It was announced at the time of the Autumn Budget…

Video Game Tax Relief
  • 4
  • Mar
Game Developers are Hopeful for 2022 – New TIGA Research

Research conducted by The Independent Game Developers’ Association (TIGA) in December 2021 shows that almost three-quarters of UK games companies are expecting to see the industry grow in 2022.  What does it mean for the accountancy industry? With the rise of game developer companies, there will undoubtedly be a rise in Video Games Tax Relief…