Autumn Budget – the business reaction

Business groups have reacted to Chancellor Rachel Reeves’ Autumn Budget speech. The Confederation of British Industry (CBI) said that the Chancellor ‘had difficult choices to make to deliver stability for the economy’. Rain Newton-Smith, Chief Executive of the CBI, commented: ‘A more balanced approach to our fiscal rules which prioritises capital investment should help to… Read more…

National Living Wage rises by 6.7%

Over three million workers will receive a pay boost after Chancellor Rachel Reeves confirmed the National Living Wage will increase from £11.44 to £12.21 an hour from April 2025. The 6.7% increase is worth £1,400 a year for an eligible full-time worker. The National Minimum Wage for 18 to 20-year-olds will also rise from £8.60… Read more…

New tipping law comes into force

Businesses have been banned from withholding tips or service charges from their staff under new rules that came into force on 1 October. All tips, whether in cash or by card, must now be shared between workers by law in Britain, with millions of workers such as those working for cafes, pubs, restaurants, taxi companies… Read more…

10,000 boost State Pension with online payments

More than 10,000 payments worth £12.5 million have been made through a new digital service to boost people’s state pension, HMRC has revealed. People have until 5 April 2025 to maximise their state pension by making voluntary National Insurance contributions (NICs) to fill any gaps in their NICs record between 6 April 2006 and 5… Read more…

Latest guidance for employers

HMRC has published the latest issue of the Employer Bulletin. The October issue has information on various topics, including: guidance for employers on RTI reporting obligations for payments made early at Christmas how salary sacrifice affects National Minimum Wage PAYE charge queries notice of change to effective date of new data requirements on employees’ hours the… Read more…

Preparing for Year End: Accounting Best Practices

As the end of the fiscal year approaches, businesses must prepare for year-end accounting. This is a comprehensive and often time-consuming task, involving the review and updating of financial records, with the overall goal of ascertaining the financial health of the company. Whilst this may sound relatively simple, it can be fraught with potential pitfalls… Read more…