HLAS

Arculus Ltd, a cyber security consultancy, has been tasked by the UK government to lead a pilot project that is aimed at helping directors of UK organisations in managing their cyber security risks. The government are looking to improve the cyber resilience of organisations and this project will help inform policy that can help with this. Arculus is actively seeking participants from organisations of all sizes and sectors. They are looking for directors, non-executive directors, and senior leaders who are responsible for managing cyber security risks in their organisations. This could include heads of departments, business owners, or charity trustees. [...]

The deadline for filing Self Assessment tax returns and paying tax bills for the 2022/23 tax year is Wednesday 31 January 2024 at 11:59pm. HM Revenue and Customs is encouraging taxpayers to get their tax return filed as early as possible so that they can know how much tax they owe and be ready to make the payment by 31 January. Support is available for taxpayers that are unable to pay in full. However, failing to file and pay tax by the deadline will result in penalties and interest. If you need any help with filing your Self Assessment tax [...]

Coming into force from 1 January 2024, the Working Time Regulations, as amended by The Employment Rights (Amendment, Revocation and Transitional Provision) Regulations 2023, introduced reforms that simplify holiday pay and entitlements. Following Brexit, any European laws that were retained in the UK automatically expired on December 31 unless legislation was brought in to keep them. The Employment Rights Regulations 2023 do just that and are applicable across the UK. As well as reinstating some EU laws, these regulations make several changes to existing laws. These reforms include changes that affect rates of holiday pay and annual leave. They also [...]

With all the changeable weather we have been having recently we hope you have been able to stay dry and warm! Change is not only confined to the weather, but it is also an inevitable facet of the business landscape. Whether prompted by technological advancements, market fluctuations, or internal restructuring, the ability to manage and navigate change effectively is crucial for sustained success. Businesses that embrace change as an opportunity rather than a threat are better positioned to thrive in today's dynamic environments. What can help us to adapt to change successfully? Understanding the Need for Change: The first step [...]

Employers should be aware that all minimum wage rates increase on 1 April of each year. For 2024, these increases are substantial. The increases apply to all National Minimum Wage rates and the National Living Wage rate. Another change that comes with the new rates is that the National Living Wage is being extended to include those aged 21 years old and over. Minimum wage - increased rates from April 2024 See the table below that shows the current minimum wage rates and new rates from 1 April 2024: If you would like help with your payroll, please don’t hesitate [...]

HMRC recently launched a new campaign targeted at crypto investors as part of a crackdown on tax evasion. They have introduced a new disclosure and payment service for taxpayers to voluntarily disclose and pay any unpaid taxes associated with cryptoassets. Cryptoassets (also known as tokens or cryptocurrencies) include exchange tokens (for example, bitcoin), non-fungible tokens and utility tokens. HMRC view the profits or losses incurred from buying and selling such cryptoassets as liable for capital gains tax. Only in exceptional circumstances would they recognise crypto trading as a taxable 'business' trade. Many who own cryptoassets may not be aware of [...]

The Chancellor Jeremy Hunt has commissioned the Office for Budget Responsibility to prepare an economic and fiscal forecast to be presented to Parliament alongside his Spring Budget on 6 March 2024. We will keep you updated with any announcements that could affect you or your business. See: https://www.gov.uk/government/news/spring-budget-2024-date-confirmed

The government has announced new UK-wide plans designed to make it easier to recycle electrical goods. A range of measures are proposed, including: Collecting waste electrical items directly from households. These collections would be financed by the manufacturers, and not the taxpayer. Free of charge collection drop points for electrical items being provided by large retailers, without a need to buy a replacement product from the retailer. When delivering replacement large electrical items, such as fridges and cookers, the retailer being responsible for collecting the old one. The proposals mean that recycling of electrical goods can be a convenient part [...]

A new government pilot, the High Street Accelerators programme, will be trialling efforts to regenerate high streets in 10 areas across England. The idea is that communities will work in partnership with local authorities and businesses to tackle problems such as empty shops, anti-social behaviour and a lack of foot traffic on the high street. The 10 selected areas will each receive an initial £237,000 to kickstart their partnerships. However, they can also apply for a share of a further pot totalling £5 million to improve green spaces and pleasant socialising environments for residents. Over the next 2 years this [...]

HMRC announced that 4,757 taxpayers filed their Self Assessment tax return on Christmas Day. This added to 8,876 being filed on Christmas Eve and a further 12,136 being filed on Boxing Day. Apparently, the peak time was between 12 and 1pm on Boxing Day when HMRC received 1,121 returns. Myrtle Lloyd, HMRC's Director General for Customer Services, used the opportunity to encourage all to file their return in good time when he said: "Our Christmas Day filers proved that there is no time like the present to get started on Self Assessment ... There's no need to delay, getting it [...]