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Spofforths is encouraging young businesses, aged between one and three years, to enter the Local Business Accelerators Scheme which was recently launched by the Newspaper Society. We are working with the Worthing Herald and Gazette to raise awareness about this fantastic initiative.

Don’t miss Horsham Microbiz this Saturday, 9 March, as it is set to be a fantastic day for small business owners. We are proud to sponsor this leading networking event which is organised by Horsham District Council. Entry is free and we hope you will join us at the Drill Hall, Denne Road, from 10am to 4pm. You can visit a number of exhibition stands and also benefit from attending free workshops throughout the day. We will be running a free workshop for new and growing businesses, covering a variety of interesting topics. I will provide tax tips, while our Private Client Services Director Philip Lansberry will discuss the importance of having an up-to-date Will and a Power of Attorney in place.

If you are trading outside of a corporate structure then there could be reforms implemented in the way you account for your profits to HM Revenue & Customs. Businesses with turnover of less than £77,000 would only need to disclose the cash received and paid out of the business as opposed to carrying out sometimes complicated accounting adjustments. In addition, the government will be consulting on the possibility of standardising business expenses, giving certain businesses the possibility of claiming a fixed amount against their income as opposed to recording the actual amounts spent.