HLAS

UK Export Finance has launched a new product to help support SMEs through challenging market conditions. The new Bills and Notes product is now open to guarantee payments by overseas buyers. The product will be available to more financial institutions with a simpler, more streamlined process. Bills and Notes are a standard method of payment where money is due under bills of exchange or promissory notes. UKEF has now improved its offer to enable overseas buyers of UK goods to benefit from extended payment terms structured using these methods. Simply put, it means that small UK businesses can get paid more quickly [...]

We were finally getting over the financial crisis when Covid struck. Then, in the trough of the worst economic downturn in 300 years, we discovered that recovery was driving the FTSE to new heights and the job market into a frenzy. In the wake of that, it became clear that the recovery was overheating and that we are now facing a period of rising inflation and industrial action. Russia’s war in Ukraine has made things worse. It has not only meant human suffering – it has affected the entire global economy, driving up the cost of food and energy. It adds [...]

Innovate UK Knowledge Transfer Network (KTN) and the Defence Science Technology Laboratory (Dstl) are inviting you to attend three virtual roundtable discussions in December. The discussions will focus on: Sustainable materials for space - 1 December 2022 Lightweight materials and structures for space - 6 December 2022 Materials to survive the natural space environment - 8 December 2022 This is your chance to influence the focus areas of Dstl's Materials for Space Science and Technology Research direction. The findings will feed into a technology roadmap to shape Dstl's future Materials for Space strategy for advanced materials and processes relating to [...]

Innovate UK is inviting innovative companies in the digital health and medical device sectors to join their Global Incubator Programme (GIP) in the USA. Applications are open to innovative companies developing technologies across a broad range of healthtech sectors including: Clinical decision support Hospital efficiency Remote patient monitoring Digital therapeutics Surgical devices ICU devices Outpatient medical devices Artificial intelligence in radiology Wearables and devices that enable patient monitoring Diagnostic platforms Biomaterials Prospective applicants should have: A novel / innovative solution with some traction (such as efficacy data or reference customers). A strong leadership team ready to dedicate time in Houston [...]

Innovate UK is offering up to £25 million in loans to micro, small and medium-sized enterprises (SMEs). Loans are for highly innovative late-stage research and development (R&D) projects with the best potential for the future. There should be a clear route to commercialisation and economic impact. Your project must lead to new products, processes or services that are significantly ahead of others currently available or propose an innovative use of existing products, processes or services. It can also involve a new or innovative business model. Innovate UK are particularly interested in projects that focus on the future economy areas included [...]

The Autumn Finance Bill 2022 was published last week, legislating for key tax changes announced by the Chancellor in the Autumn Statement. Measures include: The Energy Profits Levy (EPL) is being extended to help fund cost of living support and ensure oil and gas companies pay their fair share of tax. The rate of tax applied to the profits of oil and gas companies is increasing from 25% to 35% and the sunset clause changing to March 2028 rather than December 2025. This measure also reduces the investment allowance from 80% to 29%, except for investment expenditure on upstream decarbonisation, [...]

New employees can use the secure HMRC app to find out their personal tax information and pass details on to their employer - saving them time. As tens of thousands of people start seasonal jobs over the next few weeks, they can use the HM Revenue and Customs (HMRC) app to save them time finding details they need to pass on to their employers. In the 12 months up to October 2022, HMRC received almost 3 million calls from people asking for information that is now readily available on the app, with more than 340,000 using it to access employment and income [...]

Running your own company can be exciting but also challenging. Directors have lots of responsibilities including keeping company records up-to-date and making sure they’re filed on time. All limited companies, whether they trade or not, must deliver annual accounts to Companies House (CH) each year. This includes dormant companies. If we do not file your accounts for you, then you can use Companies House online services which are available 24 hours a day, 7 days a week. There are inbuilt checks to help you avoid mistakes. It can take as little as 15 minutes from start to finish and you’ll know [...]

The rising cost of living crisis is impacting us all, and charities are no exception. Fundraising challenges, cost of business increases and volunteer and staff stability are just some of the many issues charities may face. Over the coming weeks, the Charity Finance Group (CFG) will be sharing a selection of free resources in their cost of living hub. In the meantime, take a look at some of their advice below: Cost of living overview: The cost of living: what can your charity do now? Supporting your people: How can charity employers support employees?and seven quick tips for employers Reducing costs: Understanding energy consumptionand As [...]

With all of the U-turns on tax policy in the last couple of months, businesses may be confused about what changes are going ahead and which ones have been scrapped by the new chancellor. One of the controversial announcements in the mini-budget on 23 September was the abolition of the “off-payroll” rules that apply when workers are engaged via an intermediary, typically their own personal service company (PSC). This was due to take effect from 6 April 2023, restoring the tax rules to the pre-6 April 2017 position and would have reduced the compliance burden on end-user organisations. However, this [...]