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Entrepreneurs Panel

Julie Meyer
Laura Tenison
Debbie Pierce
Steve Purdham
Michael Oliver
Jeremy Roberts
Brian Hay
David Pollock
Richard O'Sullivan
Jennie Johnson
Tony Caldeira
Charlie Mullins

Category: UHY Hacker YoungSyndicate content

Many small businesses are not taking advantage of tax breaks, some of which had been introduced by the government over ten years ago accountancy firm UHY Hacker Young says.

The tax rate paid by leading UK companies has dropped for the fourth year in a row, a new report has indicated.

HMRC was responsible for 58 per cent of all the petitions submitted over the last year to wind-up companies compared to just 43 per cent in the previous year, according to research by UHY Hacker Young the accountancy group.

An accountancy firm has accused the Government of “hijacking” environmental concerns in order to swell Treasury coffers.

London leads the rest of the UK for new business creation by being the top city for new business start-ups. It formed a net total of 24 new businesses per 10,000 people in the year to January 1 2009.

The number of companies that entered liquidation in 2009-2010 is set to be the highest since 1992 according to figures obtained from Companies House by UHY Hacker Young, the accountancy firm.

Data from accountancy firm UHY Hacker Young shows that tougher tax collecting measures and penalties imposed by HM Revenue & Customs (HMRC) contributed to a 14 per cent increase in appeals to tax tribunals in 2008 by taxpayers claiming to have been overtaxed or unfairly punished.

Despite the “time to pay” scheme in place, HM Revenue & Customs (HMRC) continues to be the number one creditor to request the winding up of companies to recover debts owed to it, shows research from accountancy firm UHY Hacker Young.

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Five Minutes With

David Hughes sums up his entrepreneurial career to date thus: four spectacular successes and two failures. He founded the sports retailer Allsports and achieved turnover of £180 million before a vicious price war meant decline, administration in 2005 and a sell-off to rival JD Sports.

It took Richard Shonn, managing director of 151 Products, three years to find a warehouse big enough for his requirements.