Business News Articles

HMRC to spend £1bn combating tax evasion
HM Revenue and Customs have announced that they will spend £1bn on enforcement and compliance this year in an attempt to reduce tax evasion by £2.4bn. The £1bn that is earmarked for reducing tax evasion is one quarter of the HMRC's annual budget and shows how seriously the government are trying to tackle tax evasion. This year is the first time that the HMRC have broken down its budget fo... more

Google becomes world’s first $100bn brand
The search engine giant Google has become the word's first $100bn brand, according to research by business analysts Millward Brown. Google is worth almost 25% more than it's nearest rival, computer corporation Microsoft. "In the current environment brand has become even more important because it can help to sustain companies in tough times," said Joanna Seddon, chief executive of Millward Br... more

33% of small companies neglecting their website
Small and medium-sized companies are neglecting their websites in the recession, according to new research by web hosting company Fasthosts Internet. The survey revealed that 33% of SMEs are not updating their websites because they do not have enough time, even though just under 70% of small firm owners are aware that websites require regular attention to be successful. "In challenging econo... more

FSA: small firms must ‘tighten financial controls’
Small and medium-sized businesses do not have sufficient commands and controls to prevent them doing business with individuals and firms that are on the Government's blacklist of financial sanctions, according to the Financial Services Authority (FSA). The treasury maintained list includes around 1,400 individuals and 500 entities in Britain and abroad. Providing banking or other financial serv... more

New firms expanding through franchising
The UK's business sector is set for an influx in new business start-ups through an increased interest in franchising and existing businesses using franchising to expand their companies, according to a survey by the UK Franchise Directory. "The franchise industry has grown in popularity and stature as more and more people realise the benefits of investing in a franchise: namely a more successful... more

Winners announced at Franchise Marketing Awards
On March 20th The Marriott London in Grosvenor Square recently hosted the Franchise Marketing Awards 2009. The two big winners of the event, held in association with the British Franchise Association, were Kitchen facelift franchise Dream Doors and food delivery franchise Wiltshire Farm Foods, who won two awards each. "The Franchise Marketing Awards are important and unique in that they draw... more

Small business owners concerned over new HMRC powers
One in five small businesses owners are concerned over new powers recently awarded to the HMRC, according to research by Premierline Direct. As part of the new powers, which came into force on 1 April 2009, HMRC has the right to enter the homes of businesses and sole traders that claim expenses for 'use of home as an office' to inspect their business records. 17% of entrepreneurs surveyed sa... more

UK keeps working week opt-out
The UK has kept its opt-out from the European Working Time Directive, ensuring that employees will still be able to work more than 48 hours a week if they wish. Euro MP's had wanted to phase out the opt-out, which the UK and 14 other members states are signed up to, over a three year time period. Employment minister Pat McFadden said the opt-out had worked well for many years in the UK and e... more

Increasing numbers of UK companies facing insolvency
The number of firms facing County Court Judgements of £5,000 or more or wind-up petitions in the first quarter of this year increased by almost 90% compared to a year ago, according to research by Begbies Traynor. The research also revealed a 60% increase in the number of companies that faced court action, or had insolvent or out of date accounts. The total number of firms showing signs of str... more

Small firms call for end to Severn bridge tolls
The Severn bridge toll should be abolished as it is harming small and medium-sized businesses in Wales, according to the Federation of Small Businesses (FSB). On both bridges a toll is applicable for all vehicles that enter Wales with prices charged at £5.40 for cars and vans, £10.90 for class two vehicles and £16.30 for class three vehicles (those with 18 or more seats). "It's a tax on c... more