takepayments blog.
Monday, 07 April 2025
What are business rates? The latest updates for small businesses in 2025
Running your own business is an incredibly rewarding experience, giving you the freedom to be your own boss and shape your future. But let’s be honest — there’s a lot to keep on top of. From working out taxes to setting up payroll, the admin side of things can sometimes feel overwhelming. One of those responsibilities is business rates. And with new changes brought in from April 2025, understanding what they mean for your business is more important than ever.
Monday, 13 January 2025
A roundup of payment trends and predictions for 2025 for small businesses
From the rise of AI-powered security to the dominance of contactless transactions, staying informed on the latest trends may not just be helpful — it may be essential for small businesses aiming to meet today’s consumer expectations and stay one step ahead of the competition. But don’t worry; it’s our mission to keep small businesses flourishing, so we’ve taken one thing off your plate.
Friday, 20 December 2024
What is payment on account? Everything you need to know
As of 2024, there were 4.29 million self-employed people in the UK, which means that registering and reporting all that extra income via a Self Assessment tax return has never been more crucial. But, if you’re a small business owner submitting a Self Assessment tax return, knowing where to begin can be confusing if your business is only just finding its feet.
Friday, 20 December 2024
A small business guide to self-assessment tax returns: everything you need to know
Tax season can feel daunting, especially for small business owners and sole traders managing everything themselves. In the 2022/23 tax year, a record-breaking 11.5 million taxpayers submitted their Self Assessment tax returns by the 31 January deadline. But understanding how to navigate this isn’t as simple as filling in a form and hoping for the best.
Friday, 22 November 2024
13 common scams to watch out for and how to prevent them
In 2023 alone, UK businesses lost £83.3 million to authorised push payment (APP) fraud, which is when a victim is duped into sending money to a fraudster. Whether it’s clever phishing emails, AI-powered deepfakes, or sham insurance policies, scammers' tactics are constantly evolving. While ensuring your business has the required card payment security measures is one of the best ways to protect you and your customers from fraud, prevention also means being clued up on how scammers are tricking people out of their hard-earned cash.
Friday, 22 November 2024
How to accept card card payments: a step-by-step guide for small business owners
These days, card payments are an essential tool for any modern business. In fact, according to an exclusive takepayments survey, 1 in 3 consumers admit that they never carry cash on them. This shift towards an increasingly cashless society means businesses must adapt or risk turning away potential customers. Whether you're running a café, a retail shop, or an online store, offering customers the convenience of paying by card can make a big difference.
Thursday, 21 November 2024
How to accept online payments: a guide to taking payments on a website
Over the past decade, the way consumers spend their money has transformed dramatically. Online shopping, once a niche market, has grown into a multi-trillion-pound industry. Technological advancements and changing consumer preferences have propelled this shift, with more Brits than ever opting for the convenience and variety offered by over 500,000 ecommerce websites in the UK.
Friday, 01 November 2024
How to process returns in-store: best practice for managing product refunds
As a small business in the retail industry, no doubt you’re au fait with the ins and outs of accepting payments; it’s the backbone of trading, after all. But when it comes to refunds and returns, not everyone is as clued up despite the fact they’re a by-product of working in sales. With nearly one in ten (9%) of all products purchased in brick-and-mortar stores being returned, businesses need to have an efficient product refund system in place to make the exchange as streamlined as possible for all parties. As well as this, 62% of shoppers said they were more likely to shop online if they could return items in-store. This shows just how important in-store refunds are to customers and how much of an impact they can have on eCommerce overall.
Wednesday, 11 September 2024
Is it time to update your payment system? Signs your POS system is out of date
One of the most important elements of running a successful business is the ability to process payments quickly and efficiently. Needless to say, when your card machines are down or acting slow, not only could this mean that your customers have to wait, but it could end up costing you potential sales. Thankfully, it's usually a quick fix by updating the software or upgrading to a newer point-of-sale (POS) model – but when is the best time to make these changes to your system?