HLAS

The Financial Conduct Authority (FCA) proposes to reform and streamline the listing rules in the UK to help attract a wider range of companies, encourage competition, and improve choice for investors. At present, businesses wanting to list shares on any of the Financial Times Stock Exchange Group (FTSE) indexes - which include some of the largest world-wide firms - have to hold a premium listing and are required to comply with the UK's highest standards of regulation and pay substantial costs. The FCA has said it wants to make the rules companies must follow to be allowed to list their [...]

Withholding tips from staff becomes unlawful as the “Tipping” Bill achieves Royal Assent. More than 2 million workers will have their tips protected and be able to view an employer’s tipping record. An estimated £200 million a year will go back into the pockets of staff by retaining tips that could have otherwise been deducted. The measures are expected to come into force in 2024, following a consultation and secondary legislation. See: Millions to take home more cash as new law on Tipping passes - GOV.UK (www.gov.uk)

HM Revenue and Customs (HMRC) has launched the Advance Valuation Ruling Service (AVRS), a new service that gives importers legal certainty that their chosen customs valuation method is correct. When importing goods into the UK, traders must work out the value of their goods to calculate their Customs Duty and import VAT. Traders will apply online for an Advanced Valuation Ruling where HMRC will confirm the method used to calculate the value is correct. It is legally-binding for 3 years and the trader will use this information to calculate the value of their goods on their import declaration. See: New service launched [...]

Our property finance experts specialise in arranging finance for new build, conversion and refurbishment projects for property developers and investors. Our property finance experts also arrange competitive bridging loans to ‘bridge’ a timing gap between a debt coming due, or the main line of credit becoming available. Our experts can also help you to purchase your business freehold with a Commercial Mortgage tailored for you. The benefits of arranging Property Finance are: Access to highly competitive rates, arranged by a team of experts who will walk with you to completion and beyond, advising you every step of the way; Access [...]

Your employees may be injured at work or they, or your former employees, may become ill as a result of their work while in your employment. They might try to claim compensation from you if they believe you are responsible. The Employers’ Liability (EL) (Compulsory Insurance) Act 1969 ensures that you have at least a minimum level of insurance cover against any such claims. You may not need EL insurance if you only employ a family member or someone who is based abroad. You can be fined £2,500 every day you are not properly insured. You can also be fined £1,000 [...]

Companies House incorporate and dissolve limited companies. They register company information and make it available to the public. The links below take you to their guidance on how to protect your company from fraud and scams and how to report it: Register for online filing Keep your authentication code safe Sign up to our PROOF scheme Use our free Follow service Choose the right correspondence address Check website addresses are genuine Be aware of scam emails and telephone calls Report fraud Unregistered cryptoasset businesses See: Companies House - GOV.UK (www.gov.uk)

Self-Assessment customers, who are starting to think about their annual tax returns for the 2022 to 2023 tax year, should guard against being targeted by fraudsters, warns HMRC. Fraudsters target customers when they know they are more likely to be in contact with HMRC, which is why Self-Assessment customers should be extra vigilant to this activity. There is a risk they could be taken in by scam texts, emails or calls either offering a refund or demanding unpaid tax, thinking that they are genuine HMRC communications referring to their Self-Assessment return. Some customers who have not done a Self-Assessment return previously might be [...]

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 [...]