Small and medium-sized enterprises are back in the sights of HM Revenue & Customs – this time it’s their record keeping that the taxman is threatening to investigate.

Is your business missing out on a valuable windfall? If you haven’t stayed on top of your entitlement to capital allowances, the answer may be yes. Research just produced by one tax expert specialising in this area suggests British businesses have failed to claim as much as £70bn in this type of tax relief, with small and medium-sized enterprises (SMEs) particularly likely to be due a rebate.

How to… pick an accountant: Selecting an accountant can seem a daunting task, but if you choose correctly, they can be an extremely valuable asset to your business. A good accountant will not only handle your financial and operational data but will offer professional business advice on a number of other topics too, leaving you free to focus on maintaining and expanding your business.

What is to be done about Britain’s late payments culture? Though legislation introduced to bare down on late payers has now been in force for a decade, the problem remains endemic in the British economy, with small and medium-sized enterprises (SMEs) often hit particularly hard.