Category: Business

The WorkWell programme aims to support health through work. On 6 November 2024, the Secretaries of Work and Pensions, Liz Kendall, and Health, Wes Streeting, visited North Central London’s WorkWell programme. They highlighted the importance of good health in fostering a productive workforce. The WorkWell initiative, part of the government’s broader “Get Britain Working” strategy, … Continued

The International Accounting Standards Board (IASB) has completed its post-implementation review of IFRS 15, the revenue recognition standard, concluding that it works as intended and provides valuable information for investors. Issued in 2014, IFRS 15 was the first standard jointly developed with the US Financial Accounting Standards Board (FASB) to ensure consistent revenue recognition across … Continued

Enforcement will focus on 11 specific regions: Belfast, Birmingham, Bradford, Cardiff, Cornwall, Cumbria, East Anglia, Glasgow, Liverpool, the North East, and Watford. HMRC is cracking down on small and medium-sized businesses (SMEs) in 11 UK regions for potential non-compliance with the National Minimum Wage (NMW). Companies found guilty of underpaying will have to reimburse workers … Continued

0.25% reduction for late and repayment interests. The Bank of England (BoE) cut the base rate to 5.0% on 1 August, the first reduction in over four years. HMRC will lower late payment and repayment interest rates for the first time in a year. This change has prompted HMRC to adjust its rates, which are … Continued

Labour’s campaign pledged not to raise National Insurance, income tax, or VAT, yet it proposed significant tax reforms. Labour secured a historic landslide victory in the general election, with Sir Keir Starmer’s Government setting the stage for the introduction of several new tax measures. The party, running on a platform promising change, achieved its largest-ever … Continued

£46.9 billion was lent during Covid under the scheme. While nearly three-quarters of borrowers are on track to repay, a significant £40.9bn remains outstanding. The amount of bounce-back loans fully repaid is just 13% of the £46.9bn handed out to companies during the pandemic. Despite £46.9bn being handed out in bounce back Loans during the … Continued

A survey by RSM revealed that 40% of media firms had filed an R&D claim in the past year, but only 24% of these were approved without dispute. A recent crackdown on the abuse of the research and development (R&D) tax relief regime has significantly impacted the media sector, with HMRC questioning three out of … Continued

Fees of up to £145 will be charged from 30 April. Small imports such as sausages and cheese are included in the charge. Trade groups have warned of potential increases in food prices following the Government’s announcement of new post-Brexit import charges on EU food and plant products. These charges, known as the common user … Continued

Funding aims to drive economic growth, enhance health resilience, and generate employment. Jeremy Hunt has announced a £360m investment in UK manufacturing to drive economic growth, enhance health resilience and generate employment. Furthermore, there will soon be opportunities for companies to engage in a £520m life sciences manufacturing fund designed to prepare for health emergencies … Continued

The Government has committed to supporting 5.5 million small businesses by updating its Help to Grow campaign and introducing a new Small Business Council next month. Building upon existing initiatives, the council will create a platform for SME leaders nationwide to actively engage with the Government. With small businesses constituting 99.9% of all UK enterprises, … Continued