Some small business owners still haven’t received their Restart Grant
A number of business owners haven’t yet received their restart grant despite being launched at the beginning of April.
This grant was set to help non-essential businesses, who were forced to close, reopen after lockdown.
What can I do if I haven’t received my Restart Grant?
If you still have not received your grant, the best thing to do is contact your local authority. Visit their website first as it may give an explanation as to why there has been a delay. A couple of councils have said that Government pre-payment verifications are slowing the process down.
- Kent County Council – https://www.kent.gov.uk/
- Maidstone council – https://maidstone.gov.uk/
- Medway council – https://www.medway.gov.uk/
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SMEs forecast to create 1.2m jobs in Britain over the coming year
With the vaccine rollout providing optimistic data, the UK expects to be hiring over 1.2m staff over the next year.
With many people working from home throughout the pandemic, businesses are opting for new technology as a way of carrying out everyday tasks.
There is expected to be a focus on ways of working and employee wellness. Having the flexibility to work from home means more people can work anywhere.
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UK inflation rate more than doubles in April
The annual UK inflation rate more than doubled in April, as a rise in energy and clothing costs drove prices higher.
The jump to 1.5% in April from 0.7% in March, means consumer prices are rising at their fastest rate since March 2020 at the outset of the pandemic.
Reports suggest that The Bank of England predict UK inflation will head above it’s 2 % target at the end of 2021 to 2.5%, this however will drop off again to 2% in 2022 and 2023.
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6.5m households in UK plan to buy an electric car by 2030
Ofgem data points to consumer shift as ban on sale of new petrol and diesel vehicles approaches.
Reports suggest that 1 in 4 households intend to buy an electric car before the ban on sale of new petrol and diesel vehicles come into place 2030.
With many concerns around the costs of buying an electric car, research from Bloomberg NEF found that the cost will likely come down before the ban in 2030 to make it more affordable for consumers.
For the tax effects of an Electric Car – Check out the following factsheets:
Company car – is it time to go electric 2021
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New powers to tackle unfit directors of dissolved companies
New legislation has been passed to target company directors dissolving their businesses as a way of avoiding repayments of Government backed loans.
The Insolvency Service will have powers to investigate directors of companies that have been dissolved, closing a legal loophole and acting as a strong deterrent against the misuse of the dissolution process.
If the Insolvency service finds the director to be using the insolvency wrongly, directors can face sanctions including a ban of up to 15 years.
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