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Latest News

Should your clients be paying the data protection fee?

All organisations and sole traders processing personal information are now required to pay an annual data protection fee of between £40 and £2,900 to the Information Commissioner’s Office (ICO) unless they are exempt. The data protection fee is used to fund the ICO’s data protection work. The ICO are currently carrying out a campaign to contact companies who have not

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New legislation aims to tackle late payments

New legislation aiming to tackle the scourge of late payments and strengthen the powers of the Small Business Commissioner was introduced to Parliament this week. The Private Members Bill has the stated aim of “curbing the problem once and for all”. Labour peer Lord Mendelsohn, who introduced the bill in the House of Lords, said: “Late payment is crippling small

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Micro-businesses spend 10 weeks a year on finances

UK micro-businesses spend 10 weeks of the year working on financial admin, according to a new report, Make Business Simple, from digital bank Starling. The report has been created to shine a light on the practices of the UK’s 5.6 million micro-firms, which make up 96% of the business population, and encourage them to embrace new ways of cutting down

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Episode 3 – From ineffective managers to saving clients

Episode 3 of the IAB Podcast. From ineffective managers to saving clients – the Susan Jones interview Today we’re talking with Sue Jones from ASJFusion a successful bookkeeping practise based in the north of the UK. On this episode, we discuss why ineffective managers led her to set up her own business. How damaging not getting ‘it’ right can be.

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The March 2020 Budget

It’s January and whilst bookkeepers up and down the country may be busy preparing accounts and spreadsheets for businesses ahead of the HMRC deadline, this year, Chancellor of the Exchequer, Sajid Javid is preparing his first Budget statement. The government has announced that its first budget will be delivered on 11 March 2020, after the previous budget date of 6

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Episode 2 – adding value to building success

Episode 2 of the IAB Podcast. Adding value to building success – the Mark Telford interview Mark has been running a very successful accountancy practice and has now created a brand new business where he helps other accountants to build better practices. Mark is an award-winning business owner having won Xero most valuable professional award in 2018 and has now

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Episode 1 – from finance to entrepreneurship

Episode 1 of the IAB Podcast. From finance to entrepreneurship. Learning to see the changes and making decisions. Interviewing Matthew Peng from Scoro Matthew graduated in Accounting and Finance, before accidentally falling into supporting and implementing what was the golden years of desktop technology for small businesses and professional accounting firms across Australia. Working for Ernst & Young for a

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Fraud costs UK firms £682m

New research from Action Fraud shows that UK businesses reported a combined loss of £682m in the past year because of fraud. The data shows that businesses submitted 59,192 reports about fraud in 2018-19, with an average loss of around £11,500 in each case. The highest losses resulted from corporate employee fraud (accounting for £214m in losses), followed by mandate

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Essential dates for planning 2020 automated payments

Businesses can now plan ahead to avoid missing important payments in 2020 with a new processing calendar published by Pay.UK, the home for Bacs Direct Credit and Direct Debit. Outlining all of the public holidays throughout next year, the free-to-download guide also highlights the dates when Bacs payments should be submitted, in order to avoid non-processing days. The calendar is

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