Since the end of January 2018, UK authorities have been able to use Unexplained Wealth Orders (UWO) to crack down on financial fraud. Incorporated into law as part of the Criminal Finances Act 2017, it’s a specific order issued by a British court to force someone to reveal the sources of their ‘unexplained wealth’. It’s
A review of banking complaint rules has found that the Financial Conduct Authority (FCA) must be given increased powers to help SMEs. Currently small and medium sized businesses have little recourse to fight the big banks over any grievances, and this should change, according to Simon Walker. Mr Walker is the former head of the
A report published earlier this year by US-based small business agency SCORE uncovers the reasons why women from different demographics start a company. The 2018 Megaphone of Main Street: Women’s Entrepreneurship Report. Why start a company? The report reveals that 27.8% of millennial (generally defined as those born between 1980 and 2000) women start businesses
Over the last two years, there has been a sharp increase in wealthy buyers in London selling and buying off-market. Estate agent Hamptons International released research that shows off-market sales account for 25% of sales over £1 million in London. This is up from 14% just four years ago and shows how much off-market has
The Government has released new guidance designed to support the new UK trademark laws, due to be implemented in January 2019. Aimed at providing information to trademark owners or those considering filing a trademark application, the documents cover the EU’s Trade Mark Directive 2015. These laws will be implemented in the UK with the Trade
Small businesses are faster at automating and implementing AI into business practices, according to research from the Chartered Institute of Management Accountants (CIMA). Artificial Intelligence (AI) and automation of services and processes are becoming firmly entrenched in the UK business world. The sector is experiencing the first phase of the most important tech revolution since
Experian has announced that it now includes rental payments in its credit reports. This innovative change could make it simpler for renters to get onto the property ladder. The changes affect 1.2 million tenants who will now see their rent considered on their Experian credit reports. Tenants could find it easier to buy property, access
As the Chancellor unveiled the 2018 Autumn Budget, the final one before Brexit in March 2019, there were various nods towards small businesses in the UK. These range from personal tax allowance increases to business rate help. Mr Hammond began his opening speech saying that it would be “a Budget for hardworking families… the strivers,
With some business leaders in the UK demanding a People’s Vote or a second Referendum for leaving the EU, small businesses find themselves arguably operating within the toughest economic circumstances for decades. The effect Brexit will have on small businesses, or indeed any businesses, is still unknown. This is despite the fact that the 2018
According to media reports, the UK Government is still trying to thrash out a deal for leaving the EU in 2019. While some accuse coverage of scaremongering, others are concerned about the increasing likelihood of a ‘no deal’ Brexit and what that could mean for the economy. Whether the UK leaves with a deal or
