No business owner wants to make their staff redundant, however at times it’s necessary in order to protect the company. The process is obviously very difficult for the employees involved but it can also take its toll on managers. This is particularly true as redundancies often involve staff who have been working for the company… Read more…

There are now more than a million workers missing from the workforce compared to pre-pandemic figures, according to a report published by the IPPR think tank. About 400,000 of these are no longer working because of health factors relating to the pandemic, including long Covid, according to the IPPR. The report suggests that unresolved, this ‘will… Read more…

HMRC has published the latest issue of the Employer Bulletin. The April issue has information on various topics including: Forthcoming deadlines Claiming employment allowance from April 2022 Student loans Coronavirus updates and information Official rate of interest Hybrid working. Small businesses are being invited to share their views of the tax system through the Tell… Read more…

Data published by the British Chambers of Commerce (BCC) shows that UK export growth has been effectively stagnant for the past year. The BCC’s quarterly Trade Confidence Outlook revealed that the proportion of exporters reporting increased overseas sales was 29%, whilst 25% reported a decrease. Manufacturers were more likely to report increased export sales than… Read more…

HMRC has launched a new one-stop online shop designed to provide taxpayers with information on the tax reliefs and financial help available from HMRC. In a new section of the GOV.UK website, HMRC has listed financial support available to ensure individuals are not missing out. There is guidance on relief for childcare and work-related expenses,… Read more…

HMRC has named two tax avoidance schemes and their promoters for the first time, advising anyone involved to withdraw from them as soon as possible to prevent the build up of large tax bills. Both schemes involve individuals working as contractors agreeing to an employment contract under which they are paid the National Minimum Wage… Read more…

The Treasury has announced that it plans to recognise stablecoins as a valid form of payment as part of a wider government initiative to ‘make Britain a global hub for cryptoasset technology and investment’. The Treasury defines ‘stablecoin’ as ‘a form of cryptoasset that is typically pegged to a fiat currency such as the dollar… Read more…

Up to eight more nuclear reactors could be delivered to existing sites as part of the UK’s new energy strategy. The plan, which aims to boost UK energy independence and tackle rising prices, also includes plans to increase wind, hydrogen and solar production. Under the government’s new plans, up to 95% of the UK’s electricity… Read more…

HMRC has started to recover overpayments of Self-employment Income Support Scheme (SEISS) grants. From April, HMRC is writing to taxpayers whose entitlement to the fourth or the fifth SEISS grant has reduced by more than £100 to ask them to repay amounts that were overpaid. Entitlement to the fourth and fifth SEISS grants can be… Read more…

There are many ways in which to manage and benefit from financial assets. However, there are specific circumstances in which a simple savings account is insufficient. It’s at times like this when people look to financial trusts. What is a Trust? A trust is a method for managing various financial assets, for example money, property,… Read more…