TS Partners
Corporate taxes
  • 25
  • May
The UK is Set to Plummet 16 Places in the Global CT League Table

The UK Government’s decision to put up Corporation Tax from 19% to 25%, taking effect from next April, will cause the country to fall 16 places on the global ‘league table’ for corporate tax, from sixth to 21st.  That is the finding of new research reported by Accountancy Today and shows the stark impact of…

Plymouth fishing industry
  • 20
  • May
Fisheries and Seafood Scheme Relaunched

Marine Management Organisation Relaunch the Fisheries and Seafood Scheme The Marine Management Organisation (MMO) has relaunched the Fisheries and Seafood Scheme to safeguard the long-term sustainability, resilience and prosperity of the English seafood sector. The Government has set aside at least £6 million in funding for each year until April 2025. The scheme aims to…

  • 16
  • May
How did business groups respond to the Queen’s Speech?

  With the latest State Opening of Parliament taking place amid considerable economic uncertainly brought on by such factors as escalating inflation, cost-of-living pressures, and the continuing war in Ukraine, it is fair to say plenty of eyes were on this year’s event, including from UK business.  Ultimately, the Queen’s Speech – which for the…

  • 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…