Chancellor Jeremy Hunt says Government’s priorities are ‘stability, growth and public services and to protect the vulnerable’ as he delivered the Autumn statement. He announced a £55 billion package of consolidation measures with tax rises and spending cuts in order to stabilise the public finances, reduce debt and combat high inflation and high interest rates...
If you’re a small business anxious to find ways to save money, the small business hub contains useful information for business owners, including: How to request a smart meter Money saving tips Energy saving tips There is also information on tariff matching, managing energy in rental properties and the smart charging of electric vehicles.
The government has announced in-year reductions to National Insurance rates and the cancellation of the Health and Social Care Levy as a separate tax. The key changes are: National Insurance contribution (NIC) rates will be cut by 1.25 percentage points for employees, employers and the self-employed, effectively reversing the uplift introduced in April 2022 for...
The Energy Bill Relief Scheme will offer discounts on wholesale gas and electricity prices for all UK businesses for six months from 1 October 2022. This new support package for businesses facing rising energy bills in Great Britain and Northern Ireland has been unveiled by Business Secretary Jacob Rees-Mogg. The new Government Energy Bill Relief...
It has recently been announced that the Recovery Loan Scheme, which was launched in April 2021, has been extended for two years to continue to provide access to up to £2m for businesses recovering from Covid and, latterly, facing the challenges associated with the cost of living crisis. Read the announcement here. Follow this link...
If you are a small or medium business (SME), there is government support you can access now, to “help you invest and grow”. Claim up to £5,000 with the Employment AllowanceEmployment Allowance is a tax relief which allows eligible businesses to reduce their National Insurance contributions (NICs) bills each year. You can claim this if...
The Chancellor announced in the Spring Statement that the Employment Allowance will rise from £4,000 to £5,000. This allows eligible employers (small businesses with Class 1 National Insurance liabilities less than £100,000) to reduce their annual National Insurance liability by up to the annual allowance amount – now £5,000. See how and when to claim here.
The Department for Levelling Up, Housing and Communities and the Department for Business, Energy and Industrial Strategy have published the revised Commercial Rent Code of Practice. The Government says it hopes that this will help “tenants still reeling from the effects of the pandemic to confront their debts, come to an agreement with their landlord...
HMRC has produced a new video for businesses on how they should declare Covid grants that they have received over the last year in their tax returns. The video is available on YouTube.
A series of loan competitions with up to £150m available to innovative small businesses has been unveiled by the Government and Innovate UK. SMEs in fields including advanced materials and manufacturing, net zero, health and wellbeing, next-generation digital technologies, engineering biology, electronics, sensors, photonics and quantum, and robotics and smart machines are all encouraged to...