HLAS

In the increasingly competitive job market, it is important for employers to attract and retain talented people to help them grow their business. More and more key staff would like the opportunity to participate in the equity of the organisation that they work for and employers that do not offer such opportunities will be at a disadvantage when looking to retain and recruit. In the case of companies, there are currently four HMRC ‘tax-advantaged’ schemes that provide employees and employers with income tax and National Insurance (NIC) advantages. These used to be referred to as “HMRC approved” schemes but HMRC, [...]

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 Financial Times Stock Exchange (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 were facing a period of rising inflation and industrial action. Russia’s war in Ukraine made things worse. It has not only meant human suffering, but it has also affected the entire global economy, driving up the cost of food and [...]

Last week, the Sustainable Farming Incentive opened for applications in England. The scheme is available to all farmers who currently receive Basic Payment Scheme (BPS) payments. It is designed to be accessible and will reward sustainable practices which support food production and benefit the environment. The Sustainable Farming Incentive is the first of three new environmental land management schemes being introduced under the Agricultural Transition Plan, the UK’s new system of farming now that we are outside the EU. The schemes will ensure long-term food security by investing in the foundations of food production: healthy soil, water, and biodiverse ecosystems. The Department [...]

The Customs Handling Import and Export Freight (CHIEF) will be closing for all import declarations on 30 September 2022. The system has now stopped accepting new registration requests from importers. Instead, they will need to register with the Customs Declaration Service to make their import declarations. The UK Government states that the Customs Declaration Service represents a significant upgrade by providing businesses with a more user-friendly, streamlined system that offers greater functionality. This marks the first step toward the government’s vision of a Single Trade Window, which will have considerable benefits for businesses through reduced form-filling, better data use across [...]

Businesses can now apply for a chance to exhibit for free at Made Smarter Innovation Alley, part of Smart Factory Expo. It is taking place during the Digital Manufacturing Week in Liverpool from 16 to 17 November 2022. Innovation Alley provides a space for innovators to showcase new and developing technologies that will change the landscape of UK manufacturing over the next five to ten years. Fully or partly funded stands at Innovation Alley are available to businesses through the support of Made Smarter, Innovate UK and Knowledge Transfer Network. To be eligible, businesses must be: Less than five years [...]

Ground-breaking ideas can come from anyone and everyone. Innovate UK are on the hunt for innovators who could benefit from a business-boosting support package,   including £5,000 and advice designed to evolve your idea into a great business. The Young Innovators Awards 2022/23 will be open until 27th July 2022. Up to 100 winning young entrepreneurs will be supported for 12 months. It’s all part of Innovate UK’s commitment to changing the world by investing in young people with big environmental, societal, and economic ambitions. The award is open to everyone from 18 to 30, with any kind of idea from anywhere in the UK. See: Calling [...]

The Information Commissioner's Office (ICO) recommends that businesses and organisations establish incident response, disaster recovery and business continuity plans to address the heightened risk of ransomware attacks. The recommendation accompanies ICO's new guidance and a checklist of actions businesses should review to assess their preparedness against potential ransomware attacks on their organisation. Ransomware is an increasingly prevalent form of cyber-attack. Personal data breaches from the ICO's caseload during 2020/2021 have seen a steady increase in the number and severity of cases caused by ransomware. This guidance presents eight scenarios about the most common ransomware compliance issues the ICO has seen: [...]

Making Tax Digital (MTD) for Income Tax will apply to sole traders, property landlords and certain other businesses with gross turnover and/or property income over £10,000 a year and will commence in April 2024. The system will then be extended to partners from April 2025 and LLPs and partnerships with corporate members from April 2026. The Income Tax (Digital Requirements) Regulations 2021, set out the requirements that relevant persons must comply with under MTD for Income Tax. These include the use of MTD-compatible software to keep and preserve their business records (income and expenses) digitally, send quarterly updates of their [...]

Do you agree?  Many of our other clients do. In this uncertain economy, managing your cash flow is more important than ever. If you are concerned about future trading conditions, then take some time to reflect on where you are and what could happen in the next few months. It is important for all businesses to plan ahead for a range of scenarios. Cash flow and business planning in these uncertain times may appear problematic, but there are some practical steps you can take to minimise potential disruption to your business: Review your budgets and set realistic and achievable targets [...]

The Health and Safety Executive (HSE) advice has recently changed, and employers must now carry out an individual risk assessment for pregnant workers and new mothers. There will be little practical change as you must already consider risks to women of childbearing age in any general health and safety risk assessment. The difference is that you must also carry out an individual risk assessment that covers a worker’s specific needs when they inform you in writing that they: are pregnant; have given birth in the last 6 months; or are breastfeeding. See: Protecting pregnant workers and new mothers - Overview - HSE