Business Confidence – A Significant Decrease

A new survey from the British Chambers of Commerce (BCC) reveals that business confidence declined significantly in Q3 compared to Q2 of this year. 5,200 firms that took part in the BCC’s quarterly economic survey. 39% of those businesses believe they will see a fall in profits over the next 12 months. Inflationary pressures are[…]

Rules for IR35 Now

Late September into mid-October has been a turbulent time for the Government. Its been a confusing time (at best) for taxpayers, after former chancellor Kwasi Kwarteng’s fiscal statement. On 17 October, the new chancellor, Jeremy Hunt, reversed around two thirds of the tax cuts in the fiscal statement. This included complicated changes to the controversial[…]

Business savings during a recession

Nobody wants one, but a recession in the UK is looming. The Bank of England (BoE) and British Chambers of Commerce (BCC) predict the UK will enter one before 2023. The monetary policy committee of the BoE wrote: “The latest rise in gas prices has led to another significant deterioration in the outlook for activity[…]

HMRC updates MTD guidance

After much anticipation from accountancy bodies and businesses, HMRC has finally updated its guidance on Making Tax Digital (MTD), filling in several blanks. HMRC updated some of its informational pages on GOV.UK in late August, including fresh information on how to meet the requirements for MTD for income tax self-assessment (ITSA) and how to sign[…]

New law to resolve Covid rent debt

The Government has set up an arbitration system to help resolve outstanding commercial rent debt. This is following the general moratorium on commercial eviction ending. From 25 March, a legally binding arbitration process is available. This is in place for eligible landlords and tenants who have not yet reached an agreement. The Government hopes this[…]

Apprenticeship boosts if NICs are scrapped.

There is a call for the Treasury to reconsider the National Insurance contribution (NIC) increase. There was supposed to be a change in this area from next month. However, it is believed it may negatively impact apprenticeship programmes. The NIC rates will increase by 1.25% from April 2022. This is to help pay for the upcoming health-and-social-care[…]