Wilson Wright Partner Blog

Category Archives:Warren Baker

Undeniable positivity among the UK’s tech start-ups

The majority of Britain’s tech start-ups are confident of growth, in spite of challenges facing the sector.

A report published this month canvassed the views of more than 1,000 entrepreneurs in the technology sector.

Almost two thirds of respondents said they were targeting either dramatic or moderate growth by 2019. And nearly half were hoping to take on new staff over the course of the next two years.

Only seven per cent of those to take part in the research had concerns that their business may be forced to shrink or wind down over the same period.

Generally speaking the report found a willingness among tech companies to raise venture capital, with the appetite in this regard apparently eclipsing all other sectors.

More than three quarters (76 per cent) of small and medium-sized tech firms would be open to investment from venture capital, private equity firms or business angels.

The UK’s tech sector is presently estimated to be worth £161billion, although the report noted that the industry is still confronted with a number of key challenges, including finding skilled staff and ongoing political uncertainty, most notably arising from Britain’s departure from the European Union.

London in particular has a reputation as a hub for the industry, with figures suggesting that around a fifth of UK firms are headquartered in the capital.

Contentious Stamp Duty surcharge raises almost £1.5billion

The controversial decision to hike Stamp Duty for landlords and second home owners is squeezing more money from the sector than had been expected. Read More

Young British businesses are hungrier for growth, study suggests

Start-up businesses that have been trading for five years or less have imminent plans to recruit new staff and expand their horizons by the end of next month, according to new research.

A recent study carried out by Hitachi Capital suggests that one in five (20 per cent) of such small and medium-sized enterprises (SMEs) expect to expand their workforce by hiring new members of staff before the end of April 2017.

This is comparable with 17 per cent of SMEs that have been trading for six years or more, suggesting that younger, less established businesses are more confident in their firm’s short-term growth.

Hitachi Capital’s quarterly British Business Barometer also found that, regionally, small ventures in London, the South East, the North West and Scotland had the most ambitious recruitment plans for coming months.

If you are a small business owner, or you are setting up a new firm and establishing yourself in the business world, it is crucial to make sure that you explore all of the expansion opportunities available to you. This can be achieved by ensuring that you are supported by experts who understand today’s business environment and are experienced in helping people just like you to achieve specific entrepreneurial goals. It is equally important to seek out expert tax-planning assistance and advice.

Wilson Wright are here to help. We can assist you with all tax-related matters and ultimately help you to get ahead in the business world. Our team can advise you on managing your spending and day-to-day costs, and help you to implement tax-efficient business structures and find your feet on the path to success.

For more information about our services for small and start-up businesses, please contact us.       

SMEs are afraid of ‘business jargon’, says study

Small businesses across the UK are afraid of ‘business jargon’ – and are missing out on important expansion and growth opportunities as a result, according to a new study. Read More

Property bodies call upon Chancellor to consider SDLT reforms in Spring Budget

With the Spring Budget just around the corner, property bodies are calling upon Chancellor Philip Hammond to consider reforms to Stamp Duty Land Tax (SDLT). Read More

Research sheds light on entrepreneurial ambitions of people living in the UK

According to a new study, more than half of people living in the UK have ambitions to one day become their own boss – while it is estimated that one in every ten Britons will be ‘an entrepreneur’ by the end of 2018.

The research, which was carried out by funding group Idinvest Partners, also shed light on the entrepreneurial ambitions of different age groups.

Their research found that more than three quarters (76 per cent) of 18-24 year-olds wish to start up their own business in a post-Brexit Britain, while 70 per cent of 25-34 year-olds are hoping to do the same.

Meanwhile, 66 per cent of 35-49 year-olds and 48 per cent of 50-64 year-olds added that they also wished to build and run their own business.

When asked about their motivations, 48 per cent of people cited financial success as the key reason they wanted to be their own boss, while 47 per cent said that freedom and independence was most important.

If you are a small business owner, or you are setting up a new firm and establishing yourself in the business world, it is crucial to make sure that you are supported by experts who understand today’s business environment and are experienced in helping people just like you to achieve specific entrepreneurial goals. It is equally important to seek out expert tax-planning assistance and advice.

Wilson Wright are here to help. We can assist you with all tax-related matters and ultimately help you to get ahead in the business world. Our team can advise you on managing your spending and day-to-day costs, and help you to implement tax-efficient business structures and find your feet on the path to success.

For more information about our services for small and start-up businesses, please contact us.                

‘Punitive’ SDLT on expensive homes has triggered slump in sales and tax revenues, data reveals

The latest data unveiled by the Land Registry has revealed that sales of residential properties worth £1.5million or more fell dramatically last year, while the total amount of Stamp Duty Land Tax (SDLT) collected by the Treasury fell by more than £400m as a result.

According to the figures, high-end property sales fell by almost 40 per cent, leading to a reduced SDLT take of £440m.

Industry bodies have criticised former Chancellor George Osborne’s controversial SDLT changes introduced in 2014 – which see SDLT bills rise significantly for those purchasing homes worth £1m or more.

The news comes at a time when Chancellor Philip Hammond is facing increasing pressure from property bodies to reverse the reforms in his forthcoming Budget.

Since Osborne’s changes took effect, those buying a property for £1.5m have faced an additional £18,750 in SDLT.

But property bodies, estate agents and MPs alike claim that the reforms, coupled with post-Referendum uncertainty, have deterred buyers from purchasing expensive properties and caused the top end of the market to ‘stall’ significantly.

Conservative MP Jacob Rees-Mogg described Osborne’s “punitive” reforms as “politics of envy” and suggested that they had failed, as they raised significantly less money for the Treasury in 2016.

UK start-ups hope to hire more staff in 2017, says study

New research suggests that almost 90 per cent of UK start-ups plan on hiring more staff this year, while only 1 per cent have plans to make staff cuts. Read More

Tax and SDLT changes affecting rental supply and demand, says RICS

The Royal Institution of Chartered Surveyors (RICS) has warned that changes to Stamp Duty Land Tax (SDLT) and mortgage interest tax relief will weigh heavily on supply and demand. Read More

Start-up lending taking the UK by storm

London-based start-up businesses secured £23million in lending last year, but a new study suggests that entrepreneurialism is growing increasingly popular across the entire country. Read More


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