Business news and opinion from Evans Weir

In the Autumn Budget, Rachel Reeves promised that there would only be one fiscal event each year with no other significant tax changes coming more frequently. So would the Spring Statement offer any surprises? In her Spring Statement on 26th March 2025 the Chancellor Rachel Reeves repeatedly mentioned how the world changes rapidly: economic and […]

If you’re building personal savings, it’s useful to understand at what point you might need to pay tax on your funds. However, recently HMRC has begun to estimate the amount of interest due on your savings and collect it through your tax coding notice. So what do you need to know to avoid paying too […]

Xero is a cloud-based accounting software, popular with many SMEs. We began working with Xero in 2022 and recommend it to clients who are keen to use a powerful, affordable software package to help them better manage their financial accounting. Here are a few of the benefits which Xero may be able to offer your […]

Running a business can be a challenging task, especially if you don’t have all the information you need to hand. Management accounts can be a helpful tool, enabling you to properly understand how your business is performing and inform any decisions you need to make. What are management accounts? Management accounts are financial reports prepared […]

Newly proposed changes to Inheritance Tax would see 150,000 grieving families hit with higher tax bills. The plans, announced late last year by Chancellor Rachel Reeves, mean that pension wealth could be taken into account when calculating the size of an estate. The changes would take affect from April 2027. According to data from a […]

The 31 January is deadline day for self-assessment tax returns. And despite the efforts of accountants and individuals the month of January typically involves a last minute scramble for records and receipts.   This year, according to data from HMRC, 1.1 million individuals missed the 2023/24 deadline; the same number as last year. The tax […]

HMRC has introduced a new interactive online business tool, alongside clearer guidance for self-employed individuals and those exploring self-employment opportunities. Designed to support new and established sole traders, the free tool provides detailed insights into record-keeping requirements, relevant business taxes and other essential information, such as how to pay tax bills. This could help whether […]

Effective cash flow management is crucial for SMEs to ensure business stability, growth and resilience against unexpected financial challenges. So with a new year ahead here are some useful steps to consider when considering cash flow: 1. Create a cash flow forecast Creating a detailed forecast allows cash inflows and outflows to be predicted over […]

The start of a year is always good time to look ahead at what tax and financial changes will take effect over the coming months. For SMEs there are a number of changes in 2025 which could have an impact on operations and which it makes sense to plan for. Increase in National Minimum Wage […]

Managing a SME can be very challenging, but new research has shown that using an accountant can help small firms enjoy higher revenues. The survey, which asked 4,000 small businesses about their use of professional accountancy services, concluded that those with expert help are achieving 11.5% more in revenue than those who don’t. Almost three-quarters […]

The new Labour government has confirmed that the Making Tax Digital (MTD) initiative will go ahead. It had been unclear whether the policy introduced by the Conservatives would be followed in the same way and to the same timeline. However, the Autumn budget appeared to support the programme’s existing timeline.  What is Making Tax Digital?Making […]

The Fair Payment Code has been launched to help better tackle SMEs who are paid late. The burden of not being paid on time, and chasing payments, is weighing heavy on small firms with more than ever declaring insolvency. And with SMEs owed, on average, £22,000 a year the Code aims to help with the […]