HLAS

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 [...]

Home England is providing development loans from £250,000 to £10 million to housebuilders based in England that are finding it difficult to borrow from traditional lenders. Whether building for sale or rent, the loans can be used to cover the development costs. Community-led housing projects, serviced plots for custom and self-builders, off-site manufacturing, new builders, and groups of small firms working together can all access this financing. Home England state that their flexible approach, along with their in-depth knowledge of the housing sector, put them in a good position to help businesses deliver homes. The Fund is available to UK-registered [...]

This winter has been one of the mildest on record so far, but there is still time for a cold snap, and this often raises questions about whether it is too cold to work. In fact, this question is one of the most popular topics on the HSE website. The Workplace (Health, Safety and Welfare) Regulations puts a requirement on employers to provide a reasonable indoor temperature in the workplace. Clearly this will depend on what work is being done and the environmental conditions, but for an indoor workplace, the minimum temperature should normally be at least 16 degrees Celsius. [...]

Businesses across the UK are to receive new support in unlocking the full potential of AI within their workforce. As part of the UK government's National AI Strategy, The Alan Turing Institute is developing guidance designed to empower businesses and individuals to embrace AI. They published a draft version of the new guidance last month and held a brief public consultation inviting feedback from employers and training providers. According to The Alan Turing Institute, this document is "the first step towards developing a full framework, which aims to support employers, employees, and training providers to identify upskilling routes and understand [...]