Inflation hits highest level in a decade at 4.2% as fuel and energy bills soar The inflation rate has hit its highest level for almost a decade as prices rise across the UK economy, with fuel and energy costs leading the way. Reports showed a jump from 3.1% to 4.2% in [...]
Bank of England hints at future interest rate rise The Bank of England has signalled it will raise interest rates in "coming months" in response to high inflation, but held off on an immediate increase. On Thursday 04th November 2021 a vote was held by the bank policymakers, this vote concluded [...]
Autumn Budget 2021 and your small business UK Business Forums described Wednesday's Autumn Budget as a "non-event" for small businesses, which offered little reassurance of a robust plan for their economic recovery. Here is a breakdown from the Autumn budget 2021: Business rates cut by 50% for retail, leisure, and hospitality [...]
UK contactless card limit more than doubles to £100 People in the UK using contactless cards can now spend up to £100 a time, after the limit on payments more than doubled on Friday 15 October 2021. Originally the cap was increased to £45 at the start of the pandemic to [...]
PM set to raise National Living Wage to £9.42 an hour Boris Johnson is expected to increase the National Living Wage to £9.42 an hour – but some small firms may struggle to cover the cost. The rise will be introduced as part of the government’s plans to end the “low-wage, [...]
(slight) Reprieve for self-employed having to report tax quarterly Making Tax Digital for Income Tax has caused concerns for Accountants, the self-employed and small business owners. The main concerns are the increase in admin and costs that would have on put even more pressure on the recovery from COVID, therefore the [...]
Job vacancies surge past one million in new record The number of vacancies in the three months to August, rose above one million for the first time since records began in 2001. However, Suren Thiru, Head of Economics at the British Chambers of Commerce, said that firms were currently facing an [...]
How much national insurance hike will cost your business The Government's £11bn national insurance tax grab to pay for social care will hurt economic recovery and create unemployment, warn small businesses and economists. The Federation of Small Businesses has warned that more than 50,000 jobs in UK small businesses are at [...]
Firms given extra year to apply new Post-Brexit product safety standard After pressure from business groups, the government has given UK firms an extra year to comply with Post-Brexit product safety marking rules. The changes to product safety, had an original deadline set for the 1st of January 2022. This has [...]
Make December 31st end of tax year, says small business A poll shows that 91% of small businesses want to move their tax year from April 6 to January 1, which is in line with other countries. This will however, create longer deadlines to accommodate the change. Paul Falvey from The British [...]
