Business Secretary Greg Clark has suggested that business rates ‘could be changed’ in order to help high street retailers in the UK. Experts have stated that rising business rates, increasing staff costs and the rise in popularity of online shopping have created a so-called ‘perfect storm’ for UK retailers. Speaking at the Conservative party conference,… Read more »
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Wednesday 10th of October 2018
Research reveals £500 million stolen via fraud in first half of 2018
Research published by trade association UK Finance has revealed that, during the first half of this year, criminals stole £503.4 million from the UK public via fraud and scams. Over the same period, the UK finance industry helped to ‘prevent £705.7 million of unauthorised fraud’, the research found. So-called ‘purchase scams’ proved to be the… Read more »
Monday 8th of October 2018
Chancellor announces Autumn Budget date
Chancellor Philip Hammond has announced that he will deliver the Autumn Budget on Monday 29 October. The 2018 Autumn Budget will be the final Budget before the UK leaves the EU in March 2019. The Chancellor will deliver this year’s Budget earlier than usual, in a bid to avoid important final Brexit negotiations and a… Read more »
Friday 5th of October 2018
Treasury Select Committee calls for ‘greater regulation’ of cryptocurrencies
In a new report, the Treasury Select Committee has called for ‘greater regulation’ of cryptocurrencies and crypto-assets. Cryptocurrency functions as a means of payment for goods and services. However, this type of payment differs from traditional methods, as cryptocurrency payments can be ‘transferred electronically between users, without the involvement of intermediaries’, such as banks. Within… Read more »
Wednesday 3rd of October 2018
Significant number of UK firms ‘unaware of Making Tax Digital for VAT’
Research carried out by the Institute of Chartered Accountants in England and Wales (ICAEW) has suggested that over 40% of UK businesses are ‘not yet aware’ of Making Tax Digital for VAT (MTD for VAT). MTD for VAT is set to come into effect from 1 April 2019 for businesses with a taxable turnover above… Read more »
Monday 1st of October 2018
Additional ‘no deal’ Brexit documents published by government
The government has published additional Brexit advisory documents, outlining how a ‘no deal’ scenario could affect air travel. The latest technical notices analyse how aviation security and safety could be impacted if the government fails to secure a Brexit deal with the EU. In the event of ‘no deal’, UK airlines would ‘lose the automatic… Read more »
Friday 28th of September 2018
New technology ‘could pave way for better working conditions’, states TUC
In a new report, the Trades Union Congress (TUC) has stated that new technology, such as artificial intelligence (AI) and robotics, could help to ‘pave the way for better working conditions’ for UK employees. The TUC surveyed 2,145 individuals, and found that 81% want to reduce their working time in the future. The business group… Read more »
Thursday 27th of September 2018
Government launches new Help to Save scheme
The government has launched its new ‘Help to Save’ scheme, which is designed to encourage workers on lower incomes to save. The government-backed scheme was originally due to come into force in April 2018, but was subject to a delay. Under the scheme, eligible individuals can save up to £50 every calendar month, for up… Read more »
Thursday 27th of September 2018
Government publishes the next set of ‘no deal’ Brexit documents
The government has published a second batch of 28 technical notices, offering further guidance for businesses and individuals in the event of a ‘no deal’ Brexit. Following on from the 24 technical notices that were published in August, these new notices cover areas such as mobile phone roaming charges in Europe and contingency plans for… Read more »
Friday 21st of September 2018
Small business group unveils plans for ‘fairer energy market’
The Federation of Small Businesses (FSB) has called for the introduction of ‘Open Banking’ style measures to the energy market, in a bid to allow small businesses access to cheaper tariffs and make it easier for them to switch energy provider. A new report, produced by the FSB and Fingleton Associates, sets out how energy… Read more »