What is being delayed? HMRC has announced that plans to implement digital tax reporting for unincorporated businesses and self-employed individuals and landlords in April 2024 will be delayed until April 2026. Why has MTD been delayed? HMRC have said that businesses...
The government has recently announced its Energy Bill Relief Scheme for businesses. This scheme will give businesses a discount on their bills based upon a government-supported baseline price. The government has said that small businesses will receive the same level...
A recent industry survey has shown that many UK manufacturers are optimistic that productivity and business conditions will improve in 2022. Despite the fact that many UK manufacturers will be facing many challenges such as: Retaining staff Inflation Rising input...
A new £20M funding programme is set to launch across the UK for manufacturers. The aim of the programme is to help manufacturers overcome supply chain issues caused by the global pandemic. The programme will aim to do this by assisting manufacturers with the...
In June 2021 the cost of running a factory increased at a record rate. This news caused concerns that prices of British-made goods will rise during the second half of 2021. According to the IHS Markit monthly survey of the manufacturing industry, manufacturers paid...
The government has confirmed that employers of all sizes in England can now apply for £3,000 in extra funding to help them take on new apprentices. The boost to the apprenticeship incentive scheme was confirmed by Chancellor Rishi Sunak in the Budget in March. The...
Freeport operators will be able to take advantage of a zero rate of secondary national insurance contributions (NICs) for employees, the government has announced. The National Insurance Contributions Bill 2021, which legislates reliefs for those operating in...
The Financial Reporting Council (FRC) has issued amendments to FRS 102 and FRS 105 – Covid-19-related rent concessions beyond 30 June 2021 To help them through the pandemic, many businesses that lease property have been supported by their landlords and have...
Recent research conducted by Lumina Intelligence has found that the UK eating out market was expected to make a full recovery by the end of 2022. By the end of 2021 the UK eating out market was expected to grow by 33.4% to £63.6bn and expected to continue growing by...
The pandemic has forced the hospitality sector to close its doors for the best part of 12 months. These periods of closure have caused rising levels of debt and along with the pressure of increased costs have resulted in many businesses increasing their customer...
The Office of Tax Simplification (OTS) has recommended that the government double the Capital Gains Tax (CGT) reporting and payment deadline for disposals of UK residential property to 60 days. Rules introduced in April 2020 mean that a UK resident disposing of UK...
A survey conducted by the Construction Products Association (CPA) has found that price inflation for raw materials will continue to rise for the remainder of 2021. The survey found that housing is leading the economic recovery for the construction sector. But there is...