HLAS

On 6 March 2024, Chancellor Jeremy Hunt presented his Spring Budget to Parliament. In the knowledge that the government must hold a general election before 28 January 2025, this was a Budget designed to restore confidence and win voters. But on the heels of Britain entering a recession and downgraded Office for Budget Responsibility (OBR) forecasts, the Chancellor had his work cut out. Headlines included further cuts in National Insurance Contributions for workers and the self-employed, a slight increase in the VAT registration threshold and an increase in thresholds to reduce the number of people affected by the high-income child [...]

The UK government has launched a campaign to address the stigma around loneliness with young people. Research shows that 16-to-24 year olds are the loneliest age group, but are also the least likely to take action to help themselves. Many also hide feelings of loneliness out of worry over being judged. Loneliness among young people can also have an effect on a business. Loneliness in the workplace can significantly affect the performance of employees. Feelings of isolation can lead to decreased motivation, engagement, and productivity. Loneliness may also contribute to higher levels of stress and anxiety, that knock on to [...]

Robin Forster, the director of two companies involved in operating an unauthorised care home investment scheme has been banned from being a company director for 14 years. A total of £57 million had been taken from investors and put at risk in the unauthorised scheme. Based in the north-east of England, Qualia Care Properties Ltd and Qualia Care Developments Ltd offered investors the opportunity to invest in care homes. Investors bought a long-term lease on a care home room. The care home was run by a third company, Qualia Care Ltd, who sublet the room back to the other 2 [...]

David Withey, Chief Executive of the Education and Skills Funding Agency (ESFA) has written to independent training providers in receipt of direct funding from the Department for Education (DfE) or ESFA. The letter announces the publishing of a financial handbook for independent training providers. The financial handbook describes a mix of requirements, best practice and discretionary elements that are tiered depending on the organisation’s level of funding. It covers many aspects of financial management and governance. For many independent training providers, these procedures will already be part of their good financial management. However, there may be some new requirements that [...]

A total of 37 Geographical Indications (GIs) gained formal protection last week as part of a deal agreed between Japan and the UK. Iconic food products such as Cornish Pasties, Welsh Lamb, Scotch Beef, Cornish Clotted Cream, and Melton Mowbray Pork Pies will all receive protection under the agreement. This means that UK businesses exporting these food and drink products to Japan will be protected against local and other businesses imitating these products in Japan. Under the agreement, a number of Japanese agricultural products and drinks will have their GIs protected in the UK. For a full list of the [...]

With the tax year ending on 5 April, March is a good month to check whether sharing unused tax allowances with your partner could save you some money. HM Revenue and Customs (HMRC) say that March is the most popular month for Marriage Allowance applications. Almost 70,000 couples applied in March last year. As there is also the option to backdate their claim for the previous 4 tax years, eligible couples who have not previously claimed could receive a lump sum payment of more than £1,000. Marriage allowance allows individuals to transfer up to 10% of their tax-free Personal Allowance [...]

The Department for Business & Trade has made available learning resources for businesses to help with what is involved with exporting. These resources are designed both for new and experienced exporters. The resources cover: Learning how to identify opportunities abroad and find the best target markets; Preparing to sell into a new country, such as how to find customers and win bids; Understanding international rules and how to get your goods to their destination; and Learning how to raise funds, get paid and manage exchange rates. There is an opportunity to sign up and gain some additional benefits. Exporting can [...]

In November 2023’s Autumn Statement, the government announced some National Insurance (NI) changes. Some of these changes went into effect in January 2024, whereas others will come into effect on 6 April 2024. Here is a reminder of the changes. Cut to the main rate of Class 1 employee NI contributions from 12% to 10% This reduction received the most headlines. This change went into effect from 6 January 2024, and you have likely already made this adjustment. In some cases, employers were not able to make the change in time due to software not being ready. If that is [...]

The latest casualty of the difficulties hitting the high street is The Body Shop, which entered administration on 13 February 2024. Administration can be a worrying time for employees as well as customers and suppliers. However, administration is not as serious as when a company immediately goes into liquidation. Let us explain. When a company goes into administration, it essentially means that it is placed under the management of licensed insolvency practitioners. These insolvency practitioners, known as administrators, help salvage the business or its assets. This process is typically started when a company is struggling financially and cannot pay its [...]

The government named and shamed 524 businesses for failing to pay the minimum wage to their staff. These failures amounted to a total of nearly £16 million that had not been paid to their workers. Each of the employers named has had to repay their staff for the shortfall and have also faced financial penalties of up to 200% of their underpayment. The list includes businesses of all sizes, including some major high street brands. For instance, Estee Lauder, Easyjet, Greggs, Moss Bros, Currys, and NHS Highland all appear on the list. It is clear that the government will take [...]