The Bank of England has unveiled designs for banknotes featuring King Charles III, which will enter circulation by mid-2024. Notes featuring the new monarch will be printed only to replace work banknotes or to meet any overall increase in demand, meaning those with the late Queen Elizabeth II … [Read more...]
News for: General Business News
Alcohol duty frozen until August 2023
A freeze in alcohol duty is to remain in place until 1st August 2023, the government has confirmed, before a simplified system for taxing alcohol takes effect. Alcohol duty had been due to rise from February 2023, but the decision has been made to cancel the rise in order to provide further … [Read more...]
Government announces timetable for Self Assessment taxpayers to prepare for Making Tax Digital
Making Tax Digital (MTD) compatible software will be mandatory for Income Tax Self Assessment taxpayers from April 2026. Self-employed individuals and landlords with earnings over £50,000 will need to keep digital records of income and expenses, and make quarterly updates to HMRC from April 2026. … [Read more...]
Final call for businesses to take part in Help to Grow: Digital progrmme
Businesses have until 2nd February to apply for discounts and vouchers towards business software from the government's Help to Grow: Digital scheme. The scheme is to close next year, the government has announced, following less than expected take-up of the benefits, with funding allocated for the … [Read more...]
Interest rates rise again to 3.5%
The Bank of England's Monetary Policy Committee (MPC) has voted in favour of its ninth consecutive rise in interest rates. The Bank's economists voted 6-3 in favour of increasing its base rate further to 3.5%. The increase is a more moderate 0.5 percentage point rise than the previous November … [Read more...]
Falling petrol prices saw inflation slow to 10.7% in November
The Office of National Statistics' (ONS) Consumer Price Index (CPI) measure of inflation fell in November to 10.7%, thanks in part to falling prices of petrol and diesel prices. The latest ONS figures recorded a 0.4 percentage-point drop in the rate of inflation, which hit 11.1% in October after … [Read more...]
Get your Self Assessment wrapped up in time for Christmas, urges HMRC
With more than 2,800 Self Assessment taxpayers completing their tax returns on Christmas Day last year, HMRC is inviting customers to get the submission completed early in order to enjoy the festivities. Self Assessment customers need to complete their tax return and pay any tax owed by the 31 … [Read more...]
£1.97 million awarded to support women in the workplace
16 organisations in England have been awarded a share of £1.97 million government funding to support women experiencing reproductive health issues in the workplace. Funds will support organisations supporting women to remain in or return to the workplace through and following pregnancy, pregnancy … [Read more...]
£490 million announced to invest in teaching facilities at universities and colleges
Universities and colleges across England will benefit from a £490 million investment from government to deliver new facilities and support training opportunities. One hundred colleges and universities have today (8 December) been awarded a share of £432 million to invest over the next three years … [Read more...]
1 in 4 SME business owners report cost of living crisis impacting their wellbeing as well as their business
A survey by HSBC of UK small business owners has found that 1 in 4 have reporting the current cost of living crisis is taking a toll on their wellbeing. Around two-fifths of business owners reported that rising inflation and a decline in consumer spending (41% and 38% respectively) was a threat … [Read more...]
Review launched to tackle late payments for small businesses
The Business Secretary Grant Shapps has announced the launch of a review into tackling late payments for small businesses and encouraged larger organisations to ensure their suppliers are paid promptly. The Payment and Cash Flow review will scrutinise existing payment practices and the measures … [Read more...]
Millions of Britons to be able to request flexible working from day one of employment
New plans to improve working conditions for employees will give millions of workers the right to request flexible working arranges from their first day. Changes to rules being proposed by government will allow employees to request to make use of arrangements such as job-shares, flexitime and … [Read more...]
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