HLAS

Nominations are open for the SmallBusiness.co.uk 2023 British Business Awards. Celebrating its sixth year, these prestigious awards recognise, honour, and celebrate the outstanding and innovative achievements of small and medium-sized British businesses across all industries. In the wake of the pandemic, British small businesses have faced new and unprecedented challenges. That’s why this year’s awards are all about celebrating the resilience, creativity, and success of these businesses. The closing date to apply is 26 May 2023. See: British Small Business Awards | Celebrating the leaders in the small business community

The UK employment rate was estimated at 75.8% in December 2022 to February 2023, 0.2 percentage points higher than September to November 2022. The increase in employment over the latest three-month period was driven by part-time employees and self-employed workers. Growth in average total pay (including bonuses) was 5.9% and growth in regular pay (excluding bonuses) was 6.6% among employees in December 2022 to February 2023. In the same quarter, average regular pay growth for the private sector was 6.9%. In January to March 2023, the estimated number of vacancies fell by 47,000 on the quarter to 1,105,000. Vacancies fell [...]

According to the International Monetary Fund (IMF), the UK economy is predicted to shrink for the remainder of 2023 and then grow by only 1% in 2024. Interest rates continue to rise as pressure grows on the Bank Of England to call time on its aggressive monetary tightening campaign. There remains uncertainty in the Banking sector with First Republic becoming the third bank to be taken over by US regulators in the last two months and Asian stocks fell recently as more fears about the health of US regional banks have dented market confidence. These events are mainly outside of [...]

The Health and Safety Executive (HSE) have produced ‘basics for your business' webpages offering health and safety advice, whatever industry you work in. The basic step-by-step guide on first aid at work explains how you can have the right arrangements, including: a first aid kit, training workers, first aid for homeworkers, and appointing first aiders. Other 'basics for your business' topics include reporting accidents and illness and ensuring you have the right workplace facilities. See: Health and Safety Made Simple: The basics for your business (hse.gov.uk)

In response to the increase in the Bank of England base rate on 23 March 2023, the Lord Chancellor has reviewed the Court Funds Office (CFO) rates of interest payable to clients and from 21 April 2023 these changed to the following: Special Account – increased from 4.0% to 4.25%; and Basic Account – increased from 3.0% to 3.188%. The Lord Chancellor has made this decision to ensure that the running costs of the CFO service can continue to be met and that an increased rate of interest payable to clients can be provided. See: Interest rate increases on the [...]

Listed below are a number of live HMRC webinars that will give the self-employed an understanding of key taxes that affect them and also help employers with payroll. The webinars are free and last around an hour. Webinars for the self-employed: Residential property income for individuals - expenses and deductions Thu 11 May at 9:45am Thu 18 May at 1:45pm Record keeping for the self-employed Wed 3 May at 9:45am Residential property income for individuals - an introduction Thu 4 May at 1:45pm Tue 23 May at 11:45am Capital Allowances for the self-employed Fri 5 May at 11:45am How to [...]

HMRC publishes the Employer Bulletin 6 times a year, giving employers and agents up to date information on topics and issues that may affect them. The April edition of Employer Bulletin has articles on: reporting expenses and benefits for the tax year ending 5 April 2023; the annual ‘Tell ABAB’ survey gives small businesses a voice in the tax system; understanding your obligations on right to work and National Minimum Wage; anti-money laundering supervision YouTube videos to help businesses; preparing for the Economic Crime Levy; and the official rate of interest from 6 April 2023. See: Employer Bulletin: April 2023 [...]

Applications have now opened for energy and trade intensive sectors that are most affected by the rise in global energy prices to claim further discounts on their bills between 1 April 2023 and 31 March 2024. Ceramics and textiles are among the wide range of sectors potentially in line to benefit. These companies use high amounts of energy to deliver their goods, but also are exposed to strong international competition, meaning they cannot raise their prices to cover the increase in costs they have faced. The offer is part of the government’s new Energy Bills Discount Scheme, launched last month, [...]

Business Asset Finance is an agreement that enables businesses to obtain the assets needed to manage and/or expand effectively and spread the cost/outlay. Regardless of the size of business, the decision to invest in assets is always difficult but take a look at some of the benefits: A great alternative to a traditional bank loan; Increased tax benefits; Payments can be budgeted according to cash flow; and Lenders secure against the asset. Specialists can advise on: Hire Purchase - allows you to buy an asset and pay for it over a period of time, spreading the cost via an agreement [...]

For many small business owners, if they have one consistent issue, it would be that there is simply not enough time in the day to achieve all the things that need to be done. Have you ever got to the end of the day, having worked your “socks off” for the entire day, and asked the question “what on earth have I done today?”  If the answer is yes, then the next question is “how many days per week do you get this feeling?” So, what can you do, in an office environment for example, to free up some time [...]