Latest News from the Payrow team

An Overview of “Stealth Taxes” and Their Impact on Businesses in the UK

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Shared by Support • September 18, 2023

Stealth taxes, or hidden taxes, refer to indirect taxes or measures taken by governments to raise revenue without directly increasing income tax rates. Such taxes are often hidden within other measures, making them less visible to the public. In the United Kingdom, stealth taxes have become a matter of concern for businesses. In this review, we will unravel this concept and look at the impact of taxes on the UK economy.

What Are Stealth Taxes?


Taxes in the UK: The Difference Between VAT and Tax Returns

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Shared by Support • September 05, 2023

Aspiring entrepreneurs should be attentive to the various taxes provided for by the UK tax legislation and the industry in which they work, as some taxes may be “a must”, while others will not apply to them.

VAT is an indirect tax – an extra charge on the price of a product. VAT is included in the price of a product or service throughout the entire production and distribution chain, starting from raw materials and ending with the retail sale of the finished goods.

In this article, we will explain how to differentiate between the VAT returns and tax returns that your firm may encounter. We will point out when they affect you and how to pay them to HM Revenue & Customs (HMRC).

Who Has to Pay Tax in the UK?

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Shared by Support • September 01, 2023

The main taxes that a person faces in the UK are related to income from various sources. One exception is VAT: everyone pays it regardless of whether they earn money since it is included in the price of the goods. British residents are responsible for paying taxes, which are calculated according to the following formula: your personal income and benefits are summed up, and your allowance is deducted from there. Then you pay an appropriate rate on the difference.

Everyone, including students, have what is called a personal allowance. In 2022/23, you can have a personal allowance of £12,570, which exempts income below this level from taxation. Hence, if you earn less than this amount, you should not pay anything to the state.

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How to Ensure an Invoice Gets Paid on Time

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Shared by Support • August 07, 2023

Creating invoices and getting them paid on time can be a challenge. Some say that these are some of the tough issues every business faces from time to time. If you receive money late, your cash flow, payment of bills and production may be affected. So, you need to take steps to ensure that you get paid on time.

In this guide, you’ll find out exactly what an invoice is, what it reflects, what it is used for, and why you need it. We’ll also show you a secure invoicing process – these documents have a clearly defined structure. Fortunately, there are now programs that can help you automatically create and fill in these documents, which will save you a lot of time.

Payrow Introduces an Integrated IBAN Validation Tool

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Shared by Support • July 18, 2023

Payrow has recently launched a new feature: the IBAN Checker. Integrated directly within the Payrow interface, this tool allows users to validate International Bank Account Numbers (IBANs) in real-time. Users can now enter an IBAN, and the service will promptly verify whether the number is valid or not.

The integration with, a trusted and widely recognised IBAN validation service, enhances the accuracy and reliability of the tool. By leveraging's comprehensive database, Payrow ensures that the IBAN validation process is highly accurate, minimising the risk of errors or delays in payment transactions.


Changes in Income Tax Thresholds and Payments

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Shared by Support • July 14, 2023

Income tax is the biggest source of revenue for the government. There have been a number of changes to income tax in April 2023. As the cost-of-living crisis is worsening, and the UK could find itself in recession, it is important to know about your liabilities. This can help you take the necessary steps to plan your expenses.


The UK Outlines a Crackdown on Umbrella Companies

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Shared by Support • July 11, 2023

In June 2023, the UK government published a report dedicated to tackling non-compliance in the umbrella company market. The document is intended to familiarise umbrella company managers and executives operating within the country with the updated rules of doing business. It is authored by HM Treasury, namely the Department for Business and Trade.

Umbrella companies face increased scrutiny due to concerns about tax avoidance and labour rights violations. These companies act as intermediaries in the hiring of temporary workers, so the government is taking measures to protect employees and regulate this sphere.

In the Payrow guide, we’ll focus on the current market situation and tell you about the steps legislators take to address the ongoing challenges.

OECD Warns of Limited Scope for Tax Cuts in the UK

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Shared by Support • July 10, 2023

British Prime Minister Rishi Sunak’s government has little scope for tax cuts ahead of the next national election expected in 2024. This was stated by the Organisation for Economic Cooperation and Development (OECD). In this article, the experts at Payrow will discuss the latest economic news and elaborate on the OECD’s role in the UK.


What Do Accelerators Look For in Startups?

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Shared by Support • July 05, 2023

Startup accelerators are organisations that help early-stage businesses grow and succeed by providing mentorship, resources, and funding. They have become increasingly popular in recent years, with a growing number of entrepreneurs turning to accelerator programmes for support. The Payrow platform strives to support the development of British startups, so we are also involved in the field of startup accelerators and incubators.

London is home to many startup accelerators, including global accelerators such as Techstars, Seedcamp, and Startupbootcamp. These programmes are designed to help startups accelerate their growth and increase their chances of success. But what exactly do accelerators look for in startups, and how can you get into one?


Who Are the Most Technically Advanced Companies in Europe?

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Shared by Support • July 03, 2023

Small and medium-sized enterprises (SMEs) in the UK have moved to contactless payments much faster than their counterparts in Europe. When we talk about the global tech hub, London immediately comes to mind. Indeed, absolute leaders in accepting contactless payments are British SMEs, with almost all of them now accepting near-field communication (NFC) cards.

According to the research conducted by SumUp on contactless payments, here's what was found:

  • 90% of UK SMEs now accept contactless card payments.
  • 85% of SMEs in Switzerland accept such payments.
  • It’s 78% in Italy, 68% in France and 67% in Germany.
  • From 2020 to 2022, contactless payments in the UK grew by 36%, while cash ones declined by 35%.
  • Germany is the fastest to adopt NFC, with a 17% increase in 2022 alone.
  • The rate of adoption in the UK is 3%, as most already accept such payments.