Government plans to strengthen UK business environment

(2 minutes to read)

The government has announced plans to strengthen the UK’s business environment by providing more support for workers, businesses and entrepreneurs.

Business Secretary Greg Clark has promised a series of new measures to back businesses and entrepreneurs, support workers and ensure the country benefits from the government’s modern Industrial Strategy.

The UK’s smaller sized businesses will certainly be pleased to learn the government has made a commitment to end the unfair treatment of SMEs by companies who abuse their position by paying late for products and services.

The government aims to strengthen the Prompt Payment Code with a new tough and transparent compliance regime.

A call for evidence will be published, which will consider the best way to ensure company boards put in place responsible payment practices throughout their supply chain – including whether all company boards should give one of their non-executive directors’ specific responsibilities for the company’s prompt payment performance.

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The Small Business Commissioner will join the Prompt Payment Code’s Compliance Board to support his role in tackling late payment.

Federation of Small Businesses (FSB) National Chairman Mike Cherry welcomes the announcement. He said, “Late payment is the biggest challenge affecting small businesses and it is good to see the Government getting serious about this issue.

“The voluntary Prompt Payment Code is not working when it allows signatories like Carillion to pay on terms of over 120 days, so we want to see a new tough and transparent compliance regime being proposed.  Involving the Small Business Commissioner Paul Uppal with the Code is also right as that shows a more joined-up approach to this difficult issue.

“Further, it is a positive step that central government will set an example – paying 90% of undisputed invoices from small and medium-sized businesses within five days.”

To find out more about contracting please contact Sophie on 01442 795 100 or email sophie.lewis@dolanaccountancy.com

Why Dolan Accountancy?

Dolan Accountancy was set up by Simon J Dolan, the man behind the well-known brand SJD Accountancy. With over 25 years experience in the contracting marketing, Dolan Accountancy has the heritage, reputation and credibility you can trust. Working closely with our sister company, ContractorUmbrella, it means we can offer one low cost, fixed fee package at £95 + VAT per month. This gives you the flexibility of using both our Limited Company Accountancy Services and our award winning Umbrella Service, for one inclusive cost. 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 ContractorUmbrella – With changes in Public Sector IR35 Legislation 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, ContractorUmbrella.
  • 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 – The founder behind the multi award winning FreeAgent platform was one of Simon’s first clients, therefore it only seems fitting that we offer all of our clients access to FreeAgent, free of charge.
  • Free Business Banking – We have decided to waive our commission so our clients can use CashPlus free of charge for the first year, saving you £69.
  • 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.

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 795100 or email sophie.lewis@dolanaccountancy.com or jaime.thorpe@dolanaccountancy.com.

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