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Insolvencies reach 30-year high in 2023

Menzies

Menzies LLP - A leading chartered accountancy firm. The construction, hospitality, and retail sectors were hit the hardest, likely due to their vulnerability to the immediate effects of economic downturns. 2023 Insolvency Statistics in a nutshell The number of overall insolvencies recorded reached a 30-year high.

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B2B Payment Terms In Flux Amid Market Volatility

PYMNTS

recent reports in the Financial Times said the Cabinet Office has encouraged all public entities, including government departments, hospitals, councils and schools, to continue their supplier payments and coordinate with their vendor bases. In the U.K.,

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When the going gets tough, businesses can’t afford to stand by – so they must act

Menzies

Menzies LLP - A leading chartered accountancy firm. Better-than-expected sales statistics from retailers and hospitality & leisure operators collected since the start of the festive period, and the announcement that the UK economy grew by 0.1

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In the big cash squeeze, will the bold be favoured?

Menzies

Menzies LLP - A leading chartered accountancy firm. In sectors such as construction, food manufacturing and hospitality, reduced access to non-UK workers is a major problem.” Many businesses are making preparations for a big cash squeeze in 2023 due to several factors.

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Annual Investment Allowance Limit Extension

Menzies

Menzies LLP - A leading chartered accountancy firm. The Annual Investment Allowance (AIA) gives businesses the opportunity to claim 100% capital allowances in the year of expenditure on qualifying capital assets. ANNUAL INVESTMENT ALLOWANCE PERMANENTLY SET AT £1 MILLION.

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What If you can’t pay your self assessment income tax bill on time

Menzies

Menzies LLP - A leading chartered accountancy firm. If you find in this time of uncertainty that you are unable to pay your self assessment income tax liability, there is help at hand. If you have already missed your payment, you should contact HMRC as soon as possible.

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The customer is king but are they delivering value?

Menzies

Menzies LLP - A leading chartered accountancy firm. Chris Maloney – Advisory Partner A business must have customers to succeed, right? Well yes, of course, but business owners should be asking whether these are the right type of customer. This is a question that should certainly go beyond the obvious “do they pay on time?”