HLAS

When it comes to disposing of computer equipment, how can you ensure that any storage media – such as hard drives, SSDs, flash drives, and similar devices – cannot be accessed by unauthorised users or have the data recovered? Nowadays, virtually every electronic device contains some form of storage media. The National Cyber Security Centre (NCSC) reports that even decommissioned photocopiers and printers have been found to contain gigabytes of sensitive documents that were retrievable. The NCSC has updated and republished guidance on how to properly sanitise and dispose of storage media. Here’s a brief overview of the key points: [...]

HM Revenue and Customs (HMRC) have announced that 37,000 individuals have filled gaps in their National Insurance (NI) record since last April, thereby increasing the amount of State Pension they will receive upon reaching retirement age. The State Pension you will receive depends on the number of completed years in your NI record. Currently, you can review your record going back to 2006, and if there are any gaps, you can contribute to fill them and ensure you maximise your State Pension entitlement. However, time is running out to do this. From 6 April 2025, you will only be able [...]

The Bank of England reduced their base rate to 4.5% last week, as had been widely expected in the days leading up to the decision. The decision was made by a 7-2 majority. The minority of two members were looking for the rate to be reduced to 4.25%. In announcing their decision, the Monetary Policy Committee (MPC) outlined their thoughts on the economy. Here are some highlights. Inflation forecasts The Consumer Price Index (CPI) was 2.5% for the last quarter of 2024. The Bank expects CPI inflation to increase to 3.7% by autumn 2025 due to higher global energy costs [...]

Starting a business in the UK is an exciting venture, but it also comes with a range of financial, tax, and accounting responsibilities that need to be managed effectively. Understanding what needs to be done from the start will help ensure you don’t miss anything, avoid unnecessary costs, and position your new business for long-term success. Here are some key areas to focus on: 1. Choosing the Right Business StructureOne of the first steps in setting up your business is choosing the right legal structure. The three main options in the UK are:• Sole Trader – Simple to set up, [...]

New legislation for England and Northern Ireland has come into force that will allow for a deposit return scheme for drinks containers in England and Northern Ireland. Scotland is also progressing similar regulations. A deposit return scheme, which more than 50 countries worldwide are now using, gives people a financial incentive for returning empty bottles and cans to a collection point, such as at a supermarket. According to government supplied statistics, the average return rate in Europe is 90% with Germany leading the way at 98%. The legislation will allow for the appointment of the Deposit Management Organisation, the scheme [...]

The Prime Minister and Chancellor met with business leaders last week to unveil proposals aimed at increasing flexibility for occupational defined benefit pension schemes. Under the new plans, restrictions will be lifted on well-funded occupational defined benefit pension schemes, allowing those in surplus to invest more freely. The aim is to stimulate economic growth by enabling businesses to utilise these funds more effectively. Currently, around 75% of such pension schemes are in surplus, amounting to £160 billion. However, existing restrictions have made it challenging for businesses to invest these funds, even when both trustees and sponsors are in favour. What [...]

As part of the government’s strategy to boost economic growth, the Trade Secretary has appointed a new ‘Global Growth Team’ of UK Trade Envoys to drive exports and attract investment. A total of 32 MPs have been assigned specific target markets worldwide, with a mission to identify trade and investment opportunities for UK businesses while promoting the UK as a prime destination for international investors. The selected markets have been chosen based on their significant potential for expanding UK trade. Jonathan Reynolds, the Business and Trade Secretary, stated that the new Trade Envoys “will use their experience, expertise and knowledge [...]

28 January 2025 was Data Protection Day and the Information Commissioner's Office (ICO) used it to highlight the opportunities and challenges related to AI and data protection. AI adoption is integral to the government's growth plans, however the ICO are keen to make sure that the opportunities AI brings are taken up in a way that keeps people safe. The ICO have highlighted some misconceptions about AI, and this contains some good pointers for businesses and organisations considering using AI. Control over personal data There is no change to the rights that people have over their personal data. Each person [...]

The new Economic Secretary to the Treasury, Emma Reynolds, has confirmed that there are no plans to introduce regulations requiring businesses—whether large or small—to accept cash payments. Concerns have been raised about the growing number of shops and service providers refusing cash, which can exclude those who rely on cash for everyday transactions. While some countries are considering laws to ensure essential services accept cash, the UK does not appear to be following this trend. Card payments have been widely used in the UK for years, and mobile payments via smartphones are becoming increasingly popular. 72% of 16-24 year olds [...]

A recent investigation by the Competition and Markets Authority’s (CMA) independent inquiry group has revealed that competition in the UK cloud services market is not functioning as effectively as it could. Cloud services form the backbone of modern business operations, supporting industries ranging from financial services and retail to digital start-ups and public services. In 2023, UK businesses and organisations spent £9 billion on cloud services, with this figure growing over 30% annually. However, the inquiry group identified several concerns: Limited provider options: The market is dominated by two providers: Amazon Web Services (AWS) and Microsoft. These together account for [...]