HLAS

The Employment Allowance (EA) is a £5,000 allowance set against employers National Insurance Contributions (NICs) and has to be claimed each tax year if the employer qualifies. This allowance was introduced in 2014/15 and was increased to £5,000 from 2022/23. Employers make a claim for the Employment Allowance through their payroll software. They do this by completing and submitting a Real Time Information - Employer Payment Summary (EPS) to HMRC. The employer must enter “Yes” in the “Employment Allowance Indicator” field of the EPS confirming that they are eligible to claim the allowance. Eligible employers can claim the Employment Allowance [...]

A business plan is an essential tool, whether it is for raising finance or for putting your objectives into writing. In either event, a business plan will give you some form of direction and help you set goals, and most importantly, enable you to monitor your success! Business plans should be as clear as possible, and since brevity aids clarity, they should also be as short as possible. A useful way of achieving this without losing any important points is to stratify the plan by confirming all details, where possible, to an appendix, leaving only the overall message in the [...]

The Government has announced further steps to support farmers with cost pressures caused by demand and instability seen across the globe. Under the latest plans, Direct Payments in England will be paid in two instalments each year for the remainder of the agricultural transition period, to help farmers with their cashflow. The deadline for submitting Basic Payment Scheme 2022 applications is today, Monday 16 May 2022 and, under these plans, farmers with eligible applications will receive the first payment of 50% from the end of July and the second from December. With agricultural commodities closely linked to global gas prices, [...]

The UK Government has announced a £1 million package to boost seafood exports and promote the industry’s high-quality produce overseas. The package will target growing overseas markets and provide new export opportunities for the UK fishing industry and seafood sector following the departure from the European Union. Global exports of UK seafood amounted to over £1.6 billion in 2021, with salmon the UK’s fourth top food and drink product exported in 2021, totalling around £730 million. See: Export package launched to promote world-class UK seafood overseas - GOV.UK (www.gov.uk)

Here is a summary of the main tax breaks for capital expenditure that are currently available: - 130% relief for investment by limited companies in new plant and machinery that would normally be dealt with in the general pool 100% relief for investment in new and used plant and machinery by all businesses but limited to the first £1 million 50% relief for investment by limited companies in new plant and machinery that would normally be dealt with in the special rate pool (typically fixtures in buildings and long-life assets) 18% writing down allowance for plant and machinery in the [...]

Small businesses will be protected from predatory practices and consumers will get more choice and control over their online experiences as the government sets out its final vision for how the new digital markets regulator will boost competition to drive economic growth and innovation. The majority of UK companies now rely on powerful tech firms to ensure customers find their business online. These firms control key online gateways for millions of internet users and give preference to their own apps and browsers. They are also able to set their own prices for the online services they provide businesses without challenge, [...]

A publication aiming to kickstart a conversation with businesses about how to reform the UK’s capital allowances regime was published earlier this month. The publication sets out how firms can work with the government on capital allowances to help foster a new culture of enterprise and growth in the UK, with responses requested by 1 July 2022. The UK has a long-standing issue with productivity and one of the key underlying causes is a lack of capital investment. According to OECD data, companies invest just 10% of GDP each year, compared with 14% in our competitor countries – our tax [...]

Hauliers serving music concerts, sports and cultural events will be able to move their vehicles freely between Great Britain and the EU thanks to new measures for the haulage sector announced earlier this month. Designed in consultation with the live music, performing arts and sports sectors, the new dual registration measure is expected to come into force from late summer 2022. It will apply to specialist hauliers that transport equipment for cultural events, such as concert tours or sports events. Dual registration will mean drivers with an established base in Great Britain and in another country outside of the UK will be able to [...]

Eurostars is the largest international funding programme for small and medium-sized businesses wishing to collaborate on research and development (R&D) projects that create innovative products, processes or services for commercialisation. The Enterprise Europe Network (EEN) in partnership with the Eureka National Project Coordinators (NPC) in Ireland, UK & Northern Ireland, Spain, Iceland, Denmark and Netherlands invite you to participate in an international online partnering event on Eurostars on Wednesday 8th June @ 09:00 Dublin Ireland time (10:00 CET time). Businesses are offered an opportunity to register their interest in attending this free, two-hour long virtual event to: discover what Eurostars is about hear about [...]

High energy usage businesses, such as steel and paper manufacturers, are set to receive further support for electricity costs as the UK government has confirmed details of the Energy Intensive Industries (EII) compensation scheme. The scheme will be extended for a further 3 years and its budget will be more than doubled. The scheme provides businesses with relief for the costs of the UK Emissions Trading Scheme (ETS) and Carbon Price Support mechanism in their electricity bills, recognising that UK industrial electricity prices are higher than those of other countries. The scheme will now also provide support for companies that [...]