More than 440,000 small firms could be forced out of business by the late payment crisis, according to the Federation of Small Businesses (FSB).
An FSB study of more than 1,200 business owners found that close to one in three has seen late payment of invoices increase over the last three months, with a further 8% experiencing other forms of poor payment practice.
HMRC has published the latest edition of the Employer Bulletin. This guidance for employers, and their agents, includes articles on:
The Financial Conduct Authority (FCA) is set to introduce a new consumer duty to better protect users of financial services.
The new rules will help tackle harmful practices such as providers of financial services presenting information in a way that exploits consumers' behavioural biases; selling products or services that are not fit for purpose; or providing poor customer support.
On 20 December 2021, the Welsh government outlined a Budget to 'build a stronger, fairer and greener Wales'.
The Welsh government unveiled a £116 million package of funding to aid with the economic recovery from the COVID-19 pandemic. This will be combined with existing permanent relief schemes that see over 85,000 properties continue to receive support. The scheme will be capped at £110,000 per business.
Finance Secretary Kate Forbes delivered the 2022/23 Scottish Budget on 9 December 2021, setting out the Scottish Government’s financial and tax plans.
The Budget outlined the government’s spending plans, income tax and Land and Buildings Transaction Tax.
HMRC has reminded self assessment taxpayers to declare any COVID-19 grant payments on their 2020/21 tax return.
According to HMRC, more than 2.7 million customers claimed at least one Self-employment Income Support Scheme (SEISS) payment up to 5 April 2021.
On 21 December 2021, Chancellor of the Exchequer, Rishi Sunak, unveiled a £1 billion COVID-19 fund, including cash grants of up to £6,000 per premises for each eligible firm.
Mr Sunak said the government would also help certain firms with the cost of sick pay for COVID-related absences.
|
Today HMRC has made the following anouncements, and that they will not charge: |
A report published by the Federation of Small Businesses (FSB) has revealed that the costs associated with going green have impacted small firms' plans for becoming more sustainable.
The FSB's report found that the majority of UK small firms are concerned about climate change but just one in three has plans in place to combat it.
New company car advisory fuel rates have been published and took effect from 1 December 2021.
The guidance states: ‘you can use the previous rates for up to one month from the date the new rates apply’. The rates only apply to employees using a company car.
The advisory fuel rates for journeys undertaken on or after 1 December 2021 are: