Posts Tagged ‘sheffield

08
Oct
15

Do not bury your head in the sand

Sheffield based accountants Hart Shaw is urging business not to be complacent if they receive accelerated payment notices (APNs), after new figures reveal that the government has collected more than £1 billion through their use.

HM Revenue & Customs (HMRC) recently announced that it has collected more than a billion pound using APNs, since it was granted the new powers in 2014/15.

Under the accelerated payment rules, HMRC is able to make taxpayers pay disputed tax in advance, rather than waiting for the outcome of a tax tribunal ruling.

Once an APN is received taxpayers have 90 days to pay the outstanding tax, whether they feel it is due or not or face additional penalties. If the taxpayer wins the case the money is reimbursed to them with interest.

During the first year HMRC issued more than 10,000 notices to businesses or individuals who had used a disclosable scheme under the Disclosure of Tax Avoidance Schemes (DOTAS) rules.

Christopher Brown, Business Recovery & Insolvency Partner at Hart Shaw said: ““Receiving an APN should not be taken lightly, as it can have a serious effect on the liquidity and reputation of you and your business.

“The fact that HMRC have collected more than £1 billion, shows that they are serious when it comes to potential tax avoidance.”

Earlier this year, it was revealed in HMRC’s annual report on tax avoidance, that of the £596m received from APNs during 2014/15, some £28m was refunded after legal challenges.

“While many of those targeted by these new powers may have legitimately avoided paying tax, there will be some individuals and business who have been unfairly targeted and this is evident in the number of refunds already issued by HMRC,” added Christopher.  “Seeking professional advice sooner rather than later is critical.”

For more information please contact Christopher Brown on 0114 251 8850 or chris.brown@hartshaw.co.uk.

 

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21
Jul
15

Business confidence remains high

Sheffield based Chartered Accountants, Hart Shaw has commented on news that, according to the latest Business in Britain report from Lloyds Bank, overall business confidence remains strong and stable.

This positive attitude is largely underpinned by companies’ expectations of an improvement in exports, as well as an anticipated increase in investment levels.

The twice-yearly Lloyds Bank report gathers the views of 1,500 UK companies – predominantly small to medium sized businesses, or SMEs – and tracks the overall balance of opinion on a range of important performance and confidence measures.

The report’s overall key confidence index, which looks at businesses sentiment over the coming six months, has remained stable at 43 per cent compared with January 2015. Although the latest reading is down from the survey’s high of 53 per cent recorded 12 months ago, it remains above the long-term average reading of 23 per cent. Expectations of employment growth and a resurgent export market suggest strong economic prospects for the second half of the year.

Christopher Brown, Business Recovery & Insolvency Partner at Hart Shaw said: “Some 29 per cent of the firms surveyed said that weaker UK demand poses the greatest threat to their business in the next six months. This could explain why firms expect to increase their sales in global markets.”

The net balance of exporters expecting an increase in total exports across the globe has risen to 46 per cent. This has been boosted by firms’ intentions to export to growing regions such as the Middle East and Africa. In particular, the increase in total exports has been driven by the number of exporters expecting an increase in trade with Europe in the next six months.

“Business confidence has remained relatively strong with encouraging expectations for sales, orders and profits for the rest of the year,” noted Christopher. “This has been underlined by a bounce back in exports to Europe as well as companies’ intentions to grow their presence further on the international stage. However, we’ll be keeping an eye on how the situation in Greece affects British SMEs,” they concluded.

For further details contact Christopher on 0114 251 8850 or chris.brown@hartshaw.co.uk.

 

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07
Jul
15

New website for Hart Shaw Business Recovery & Insolvency

Hart Shaw Business Recovery & Insolvency has developed a new website, embracing new technological methods for better usability.

The new mobile friendly website has better functionality for users accessing the site via different devices.

It is up to date with practical solutions and video content to address businesses and individuals who may be experiencing financial difficulty. In addition to this there is a section on how other professional advisers can access the range of services on offer from Hart Shaw to assist their clients who may be experiencing problems.

Hart Shaw Business Recovery & Insolvency website

The new Hart Shaw Business Recovery & Insolvency website

Brendan Hall, Marketing Co-ordinator at Hart Shaw comments: “The new website has been designed specifically to increase the user experience, making it easier to navigate and find information depending on the specific requirements of the visitor.

“We offer a range of services to businesses, individuals and professional advisers and have broken down these services to enable our visitors to find the information they require quickly and easily.

“Our website can be read easily on mobile phones and tablets, as well as PCs and Laptops to make it more accessible in the office, at home or on the move.”

 

View the new Hart Shaw Business Recovery & Insolvency website here: www.hartshaw-bri.co.uk.

23
Jun
15

Is your business experiencing financial difficulty?

Do you need to know what options are available to your business in troubling times? Companies in financial difficulty - Hart Shaw Business Recovery

Watch our service insight to gain more understanding of the options that can be available and how you can start taking the right steps to safeguard the long term future of your business.

The team at Hart Shaw Business Recovery & Insolvency have helped to turn around and keep trading over 60% of the troubled businesses that have sought help and advice from us.

Watch our ‘Companies in financial difficulty’ video here.

 

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16
Sep
13

SHEFFIELD CITY REGION BREAKFAST CLUB – WEDNESDAY 9TH OCTOBER 2013

A new networking group for local businesses

Hart Shaw Chartered Accountants and Reynolds Trade Credit are setting up a new breakfast club aimed at bringing together decision makers from local businesses in the Sheffield City Region.

Hart Shaw BRI Reynolds Trade Credit

 

 

 

 

The format of the events will be open networking followed by a short discussion on relevant business issues.

The first event is taking place at the Aston Hotel on the Sheffield / Rotherham border on Wednesday 9th October between 8:00am and 9:15am, and will focus on Retention of Title clauses.

Future topics can be decided by the group’s members and opportunities to sponsor and have presentation slots will be made available.

The aim of the group is for like-minded decision makers to share their experiences and discuss solutions to everyday business issues.

Full details are:

  • Date:      Wednesday 9th October 2013
  • Time:      8:00am for breakfast sandwiches and open networking, followed by a brief presentation until 9:15am
  • Venue:   Aston Hotel, Britannia Way, Rotherham, S60 5BD

The breakfast club is FREE to attend and you are very welcome to bring a guest or a colleague.

To confirm your attendance please contact Brendan Hall at Hart Shaw on T: 0114 251 8872 or email: brendan.hall@hartshaw.co.uk.

Places are limited so please book early to avoid disappointment.

We look forward to seeing you there.

Hart Shaw events

Reynolds Trade Credit

11
Sep
12

A sign of the times: One in four Sheffield city centre shops closed

Interesting article from the Sheffield Star: http://www.thestar.co.uk/news/business/a-sign-of-the-times-one-in-four-sheffield-city-centre-shops-closed-1-4912774

The ‘high street’ has been struggling for some time now with these new stats showing this trend is continuing.

Is there still a place for the high street store in modern Britain with new technology developments and increased out of town shopping?

 

Christopher Brown, Business Recovery & Insolvency Partner

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Hart Shaw Business Recovery & Insolvency