Andrew Grantham

Invoice Finance - An Alternative to Trade Credit?

A new report by information services company Experian has stated that small-to-medium-sized enterprises (SMEs) are facing a significant reduction in trade credit in the current environment.

Trade credit provides a much-needed buffer, allowing businesses to purchase stock and materials ahead of manufacture or provision of service. It is essential for the smooth running of most businesses especially when they are trying to expand.

Government FLS extended to Asset Based Lenders

In financial news this weekend it was revealed that Vince Cable is planning to extend the Funding for Lending Scheme (FLS) to Asset Based Lenders (ABLs), which could prove a welcome shot in the arm for many small businesses who are finding it difficult to obtain traditional bank finance.

I also believe it is positive recognition for an industry which works hard to provide much-needed funding during these difficult times but doesn’t necessarily get the mainstream publicity it deserves.

PAYE in real time - a cashflow timebomb?

From 6th April 2013, all companies will have to start reporting PAYE information in real time.

The new process, referred to as Real Time Information (RTI), will be mandatory and means SMEs will have to use payroll software to immediately inform HMRC of their employees pay and deductions each time they pay their wages.

The knock-on effect of this is more visibility by HMRC, so meaning companies will be less likely to get away with building up PAYE arrears before any action is taken.