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A recent survey has revealed that optimism regarding the wider economy increased by 2 points to 25% in July, with overall business confidence remaining the same at 29%.

The latest Business Barometer from Lloyds Bank Commercial Banking also shows an improvement in firms’ assessment of the impact of Brexit on their business prospects. The net balance of 3% was up from 1% in June. Overall, 31% of firms thought that leaving the EU is having a positive impact on their business activity, while 28% said that it was having a negative effect.

At the time, the Bank of England’s decision to raise interest rates for just the second time since 2007 hadn’t yet been disclosed, however, it seems that the majority of businesses believed that this was likely to happen.

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For example, 71% of firms expected the Bank of England to raise rates this year, compared with 14% that anticipated no rate rise. Nearly a quarter (23%) of firms said that official interest rates at 1% would have a ‘significant negative’ impact on their business. That rises cumulatively to 54% with interest rates at 1.5% and 75% if rates increase to 2%.

Hann-Ju Ho, Senior Economist, Lloyds Bank Commercial Banking commented, “The uplift in economic optimism this month illustrates a slightly more positive view on the balance of risks for the UK economy, despite the expected interest rate rise this year. However, with the net balance of stronger business activity declining slightly, it will be interesting to see if the overall business confidence measure shifts from its steady position towards the end of the year.”

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With over 25 years experience in contractor accountancy helping thousands of contractors, freelancers and the self employed, Dolan Accountancy has the specialist skills, reputation and credibility you can trust.

Working closely with our sister company, Contractor Umbrella, it means we can offer one low cost, fixed fee package at £105 + VAT. This gives you the flexibility of using both our Limited Company Accountancy Services and our award winning Umbrella Service, for one inclusive cost.

If you’d like to find out more about how Dolan Accountancy can help you and your business, please give us a call on 01442 795 100 or email or

We don’t believe in tiered packages or hidden extra fees, instead we aim to give you everything you need, including:

  • Free Company Formation – This is where it all begins. Once you have decided on an available name, we will form your company free of charge (if using our accountancy services) and it will be ready for you to use in as little as three hours
  • Free use of Contractor Umbrella – With IR35 Legislation changes we understand that sometimes you are required to contract via an umbrella company. We will keep your limited company ticking over, while you work margin free via our sister company, Contractor Umbrella
  • A Dedicated Accountant – Your accountant will be there for any company or personal tax advice that you require. We will never outsource work, even to internal teams
  • Free Access to FreeAgent – We offer all of our clients access to FreeAgent, free of charge
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  • Unlimited IR35 Status Reviews – We will review all of your contracts for IR35 purposes and provide you with our professional opinion as to its status
  • Free Registered and Director’s Service Office Address – Sometimes you just don’t want your home address on display at Companies House. When you sign up to our accountancy services, we will offer the use of our address as an alternative
  • Your Business and Personal Taxation Needs – This includes Company Accounts, Director’s Personal Tax Return, VAT Returns, Payroll, Corporation Tax and Dividend advice, to name just a few

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