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The British Business Bank’s Guide to building business resilience contains impartial, practical, and actionable information and support to help smaller businesses manage their costs, boost their long-term profitability, and increase their resilience. There is guidance on everything from energy efficiency to investing in technology, included to help make your business more innovative and resilient. Other topics covered in the guide include: Foundations for growth; Managing business costs; Securing funds and controlling debt; Focusing on customers; Optimising your supply chain; and Controlling staff overheads. See: Guide to building business resilience - British Business Bank (british-business-bank.co.uk)

A new wave of low-carbon heating and insulation installers will be created through thousands of heavily discounted training spaces in a boost to the green jobs sector. Up to 8,000 people – including current installers and those who are new to the industry – will be able to develop the skills and expert knowledge needed to retrofit homes and install insulation through a host of training providers thanks to the Home Decarbonisation Skills Training scheme. A further 4,000 people will also be able to get £500 towards training to install and maintain heat networks through the Heat Training Grant. The [...]

Like many other taxes, inheritance tax (or IHT) allowances have been frozen. This sounds generous of the chancellor at a time when the government is strapped for cash. But it actually means that we are paying more. Data from HMRC has revealed that Inheritance tax collected between April 2022 and February 2023 totalled £6.4bn, which is £900m higher than the same period last year. The rise is actually due to the frozen tax-free allowance for inheritance tax (also known as the nil-rate band) – coupled with the rocketing rise of house prices. It’s estimated 10,000 more families could end up paying IHT, [...]

Projects that tackle some of the greatest threats to trees and forests will get government funding, it was announced last week. This is alongside additional investment announced for local authority tree planting initiatives which will see hundreds of thousands of trees planted in communities across England. The funding aims to drive long-term woodland creation efforts, create jobs, boost biodiversity and support innovative approaches to tree health and resilience, in the face of climate change and the mounting threat of pests and diseases. Successful applicants include: The University of Lincoln’s ISILDUR project, which will work with tree nurseries to address labour [...]

The future flight challenge for Innovate UK will invest up to £500,000 in projects to close aviation industry skills gaps. The aim of the competition is to create and deliver course content and materials that will support skills, talent and training across the future flight sector. The purpose of this is to build awareness of future flight emerging markets and fill key gaps in the United Kingdom's workforce talent and training capabilities. Projects can deliver one or more of these objectives: Schools’ engagement Apprenticeships and internships Upskilling and reskilling of existing workforce Technical courses and vocational training Undergraduate, postgraduate and [...]

The much criticised “off-payroll” working rules were introduced for the public sector from 6 April 2017 and then extended to large and medium-sized private-sector organisations from 6 April 2021. The rules replaced the ‘IR35’ rules where workers supplied their services to these organisations via a personal service company (PSC) or other intermediary. The effect was to transfer the, not insignificant, tax compliance burden from the PSC to the service-acquiring organisation. The off-payrolling rules will now be removed from 6 April 2023 and the IR35 compliance burden will revert to resting with the PSC itself. This means the PSC must calculate [...]

The previous Chancellor, Rishi Sunak, had dangled a possible cut in the basic rate of income tax from 20% to 19% from 2024/25. This will now be brought forward by one year to 2023/24 and will apply to non-dividend income. The 45% and 39.35% ‘additional rates’ of income tax that apply to income over £150,000 will be abolished from 6 April 2023. This will mean that, in 2023/24, there will be just two rates of tax on general income - 19% and 40%, with two dividend income tax rates of 7.5% and 32.5%. Further, those who would have otherwise been [...]