UK growth to reach seven-year high in 2014

The British Chambers of Commerce (BCC) has today upgraded its growth forecasts for the next two years – from 2.8% to 3.1% in 2014 and from 2.5% to 2.7% in 2015. For 2016, their forecast is unchanged at 2.5%. With expected growth of 3.1% this year, it will be the first time since 2007 that[…]

Cobbler’s Shoes!

As you may know, in 1948 Mr Jack Ross started his chartered accountancy practice. A few years later he went into partnership with Ged Lanigan, and then Les Jacobs. There have been many changes over those sixty six years, but one thing that has remained constant is the practice has remained a partnership. They say[…]

Firms taking on more employees

The Confederation of British Industry (CBI) has said that businesses are taking on more people and optimism is at its highest level since 1998. Its survey of 151 firms said consumer and professional services are increasingly happy about the economic situation. However, businesses are still finding it hard to attract staff with the right skills.[…]

Posted in Tax

UK economic growth confirmed at 0.8%

The UK economy grew by 0.8% in the first three months of 2014 official figures have confirmed, as households spent more and firms lifted investment. The latest figures confirm the initial estimate from the Office for National Statistics (ONS) and also confirm the economy grew 3.1% from a year earlier. The UK is now one of the[…]

Posted in Tax

Inflation edges up to 1.8%

Annual inflation as measured by the Consumer Price Index (CPI) rose to 1.8% in April, from 1.6% in March, after consumers paid more to travel over the popular Easter period and petrol prices were higher than the same month last year. The rate of inflation as measured by the Retail Prices Index (RPI) was unchanged[…]

New personal tax statement for 24mn people

From October 2014, around 24 million people will receive a personal tax statement from HMRC detailing how their taxes were spent, the Chancellor George Osborne has announced. This is 4 million more people than was originally announced at the Budget 2012. The additional people are PAYE taxpayers who have had recent contact from HMRC setting[…]

Employment law changes in effect

A number of changes to employment rules and regulations came into force with the start of the new financial year on 6 April. The changes affect many areas of employment law, from employment tribunals and discrimination, to everyday areas such as auto-enrolment and maternity pay. Key changes: Statutory maternity and paternity pay have increased from[…]

Posted in HR

Auto enrolment increases pension membership

The percentage of private sector employees in a workplace pension scheme increased from 26% in 2011 to 35% in 2013, according to research commissioned by the Department for Work and Pensions. The Employers Pension Provision survey shows that at the time of the research, 2% of private sector businesses had passed their staging dates. These[…]

Unemployment falls to 6.9%

The unemployment rate fell by 77,000 to 2.24 million between December 2013 and February 2014, according to figures from the Office for National Statistics (ONS). The official unemployment rate now stands at 6.9%, the lowest since February 2009. Key employment data: 30.39 million people were in work between December 2013 and February 2014 This is[…]