HLAS

The valuation of business goodwill for tax purposes is very subjective and is often a contentious area. HMRC have recently updated their guidance in their Shares and Assets Valuation Manual. The guidance makes a distinction between goodwill for Capital Gains purposes and goodwill within the corporate intangibles regime where accountancy principles apply. The accounting rules define goodwill as the difference between the overall worth of a business when it changes hands and the value of its identifiable (including intangible) assets. The HMRC guidance goes on to state that the goodwill of a business is the “attractive force” which brings in [...]

The Prince’s Countryside Fund and Forest Holidays have teamed up to create The Rural Start-Up Fund, an exciting opportunity for rural businesses to receive financial support as they embark on a new business venture. One of the biggest barriers to setting up a new business is the initial financial demand, and this, coupled with the challenges of working rurally, is why the fund is striving to support new entrepreneurs across the United Kingdom. A total of £5,000 is available in the Rural Start-Up Fund in 2022 to be awarded to one winning business or shared between a number of rural [...]

Wellbeing has always been very important for SME business owners. With almost four in ten (39%) SME business owners saying that rising costs are affecting their emotional wellbeing, according to new research by Three Business, it’s more important than ever. Almost half (45%) of SME business owners say that mental health support is just as valuable to their business, as financial and technological aid. Find out more about what the research findings are telling us about the challenges facing SME business owners at the following online webinar 2 November 2022. See: The Importance of Wellbeing for SME Business Owners Tickets, [...]

Innovate UK and Innovate UK EDGE have opened for applications a new accelerator programme for innovative companies in the ocean sector. The tailored five-month incubation programme will be delivered in partnership with COVE, a global innovation centre for ocean technology located in Nova Scotia, Canada. The programme includes participation at Canada's premier event for the ocean technology sector, the H20 Conference, including the opportunity for companies to demonstrate their technology offering to industry experts and prospective customers at COVE Demo Day. To apply for this programme, you must: be a UK-based company be a business with fewer than 500 employees [...]

The UK Government have updated their Energy Bills Support Factsheet and has set out action to support people and businesses with their energy bills and tackle the root causes of the issues in the UK energy market through increased supply. Contents include: Support for households Support for businesses and non-domestic properties Reform to address long-term issues in the UK’s energy sector Other help See: Energy bills support factsheet - GOV.UK (www.gov.uk)

The national festival of advanced manufacturing takes place in Liverpool from 14 to 18 November 2022 and will welcome thousands of industry leaders and digitally minded manufacturers. Every aspect of the week celebrates excellence: expert speakers, industry-shaping influencers, delegates from the best manufacturers and the brightest emerging talent. See: Home - Digital Manufacturing Week (digital-manufacturing-week.com)

The UK Government has been building and testing a new online service for employers which provides advice and guidance on managing health and disability in the workplace. The service explains your legal obligations and good practice - it may be particularly helpful for smaller businesses without in-house HR support or access to an occupational health service. The Health and Safety Executive (HSE) is supporting the development of this service and would like your help to test it. By taking part, you’ll receive free information and guidance on disability and health-related employment issues. You could use it to help manage a current case, [...]

The menopause is a natural stage of life and yet it remains a taboo subject in many workplaces. People experiencing menopausal symptoms require the same support and understanding from their employer as anyone experiencing any ongoing health condition. Employers need to break the stigma and taboo surrounding the menopause at work and create an inclusive working environment where employees and managers feel confident to discuss any practical adjustments that may be needed. The Chartered Institute for Personal Development (CIPD) have support materials, guides, webinars and podcasts for professionals and people managers. You can also get up to date with the [...]

The National Cyber Security Centre (NCSC) has published new guidance to help organisations effectively assess and gain confidence in the cyber security of their supply chains. The guidance follows a significant increase in cyber-attacks resulting from vulnerabilities within supply chains in recent years, including high-profile incidents such as the SolarWinds attack. These attacks can result in long-term, costly ramifications for affected organisations and their customers, yet the latest government data shows just over one in ten businesses review the risks posed by their immediate suppliers. The proportion for the wider supply chain is just 7%. This guidance aims to help cyber security [...]

A new period of this government begins for us all, again! We have a new Prime Minister, Rishi Sunak and a new cabinet facing the toughest economic conditions in decades. So what actions can we expect from the government in the next few weeks? Chancellor Jeremy Hunt will outline the UK's tax and spending programme on the 17 November as a full Autumn Statement. This has been delayed for further economic forecasts to be prepared. Mr Hunt has stated that this new government will set out to ensure UK borrowing falls over the medium term. The “upgrade” to a full Autumn [...]