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News - 3 January 2013

Positive signs for 2013

The Federation for Small Businesses (FSB) latest survey shows a positive outlook for 2013, which is in stark contrast to the previous two end of year surveys.

The FSB's national chairman, John Walker, said: "Confidence is still low, with many concerned about lack of demand and wider economic issues, but our members are heading into 2013 with more confidence than they did going into either 2011 or 2012."

But, the survey did show that businesses were not ready for the changes that the Universal Credit system, which will replace many state benefits this year, will bring.

Tonmoy Kumar, Manager of the Accounts Department of ABDS comments:
“Many firms are not aware that they have to tell the authorities immediately about any payroll changes that have occurred when the system comes into operation in April. The system is designed to make PAYE deductions more accurate, but it is also another compliance burden that SMEs have to deal with.”

If you need any help and advice for your business on Payroll and National Insurance,  or in outsourced services, contact Lavinia Newman, Stuart Coleman or Tonmoy Kumar to discuss how ABDS can help

ABDS Chartered Certified Accountants of Southampton.
Tel: 023 8083 6900  E-mail: abds@netaccountants.net

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