The Government is pressing ahead with plans to increase the rates of the National Living Wage (NLW) and the National Minimum Wage (NMW) from 1 April 2021, while people aged 23 and 24 will be entitled to the National Living Wage for the first time. The NLW will rise from £8.72 an hour to £8.91 […]
Business rates review report delayed
The Government has announced that the final report of its fundamental review of business rates will be delayed and will be published in the autumn. It says that by then there should be greater clarity about the economic situation and the future of the public finances. The review was announced by Rishi Sunak at his […]
Vaccine rollout prompts SME optimism about prospects for 2021
New research has found that SMEs across the UK are feeling increasingly optimistic about their prospects for the rest of 2021, after the success of the vaccine rollout. The Barclaycard Payments Barometer research found that SMEs expect to grow their revenues by an average of eight per cent. London SMEs, meanwhile, expect to see revenues […]
Reporting under DAC 6 required for “limited time” as HMRC transitions to international disclosure rules
HM Revenue & Customs (HMRC) has confirmed that the UK will replace the European Union cross-border tax arrangement rules “as soon as practicable”, but some aspects will continue to be enforced for a “limited time”. In an update to agents, the regulator said it will consult on and implement the Organisation for Economic Co-operation and […]
Keep your supply chain strong with three top tips
With manufacturing slowing and anxiety growing, reinforcing your supply chain post-Brexit has never been more important. Many different factors can affect a supply chain, not least the complications created by the new customs and trade arrangements. Here are our three top tips to keeping your business moving post-Brexit and beyond. Know your business inside out […]
Commodity codes, explained
If you move goods to or from anywhere in the world, you will need to use a commodity code to classify your consignment. Here’s what you need to know. What is a commodity code? The UK now uses a standardised set of codes, borrowed from the World Trade Organisation (WTO) “Harmonised System”, to classify goods. […]
EU VAT One-Stop-Shop to launch in July 2021
The European Commission, in response to the challenges created by the Coronavirus pandemic, has decided to postpone its new European VAT rules for business-to-consumer (B2C) transactions until 1 July 2021. These new rules are part of the EU’s new e-commerce package and will look to introduce a VAT One-Stop-Shop (OSS) for B2C sales. Originally due […]
Draft legislation implements requirement for “mandatory independent scrutiny” of pre-pack administration sales
New legislation will require independent scrutiny of pre-pack sales where connected parties are involved, it has been announced.
Small businesses handed £7.8 billion through local authority grant schemes, figures reveal
More than £7.8 billion in grant funding has been delivered to small businesses through local authority grant schemes, it has been revealed.