Jan 04
Small businesses in the UK could face costly consequences in the New Year if they fail to keep their financial records in order, according to HM Revenue & Customs.
HM Revenue & Customs (HMRC) are planning to clampdown on inaccurate bookkeeping and tax underpayments among small businesses in 2011.
The agency plans to use its ‘Business Records Checks’ campaign to target the 40% of small businesses that suffered from poor record keeping and most likely to not pay their taxes.
Over two million small businesses that keep records in poor condition/order will face investigation and fines of up to £3,000.
Inspectors have little understanding of what it is like in the business world, therefore will not be lenient and fully expect records to be kept in text book order.
Richard Mannion, national tax director at accountants Smith & Williamson said:
“One of the difficulties facing entrepreneurs and SMEs is that they may have to keep records for income tax, VAT, capital gains tax, PAYE and so on. Separa
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Jan 02
PROVIDENCE – The building of an artificial ovary by researchers from Brown University and Women & Infants Hospital made it into Time magazine’s Top 10 Medical Breakthroughs of 2010.
At No. 9, an artificial ovary that can fully mature human eggs in a lab ranks is one of the most important discoveries of the year, said Time.
“Most immediately, the structure could help in vitro fertilization technicians improve success rates,” said the magazine. “By allowing technicians to mature these eggs in the lab, researchers might be able to help each IVF cycle become more efficient in leading to a pregnancy and eventual life birth. In additi
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Dec 25
Thinking about money that we need for emergency, we are into this idea of lending money to the people who are close to use. But of course, it is not always that they lend you some. They also need cash for personal use and the only thing that you can do is to lend cash with interest. How was it? If you have a stable job and you are receiving salary monthly, it is possible for you to apply for payday loans. There are payday loans no credit check no faxing deals that you can apply online. This kind of loan can give you affordable deals when it comes to interest rates. Today, there are many lending companies that are providing bad credit payday loans online to the lenders.
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Dec 22
Tens of thousands of Christmas shoppers were left unable to pay for goods electronically this week following a fire at a BT exchange in London.
A water leak at the telco’s Gerrard Street exchange in the capital’s Chinatown district resulted in an electrical short circuit, causing certain equipment to catch fire.
The blaze specifically affected the running of card-reading services in the immediate area, which includes the busy shopping districts of Oxford Street, Carnaby Street and Soho. A number of retailers in these areas were unable to accept debit or credit card payments.
“BT can confirm that water damage from a mains drain has disrupted power supplies to an exchange in the West End of London,” BT said in a statement following the incident. Read more…
Dec 21
PROVIDENCE – Providence Business News is seeking candidates for its first Chief Financial Officers awards program.
Applicants must be a top financial executive of their company or divisional office – CFO, comptroller/controller, vice president of finance, treasurer, etc. – in Rhode Island and Bristol County, Mass. Self-nominations are accepted; deadline for applications is Feb. 24.
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Dec 19
Entering into a business venture of your own can be an exciting time in your life. A time filled with energy, optimism, and dreams of what lies ahead. And as you begin your road to business ownership, you might not want to consider the worst that could happen, however; it is often from the worst events that we can learn the most valuable lessons. There are plenty of lessons that you can learn from running a business. There are certain things however, that unfortunately you might learn better from failure. This is where learning from others’ experiences can be an invaluable asset to the successful operation of your business. R Read more…