The number of company insolvencies in September 2023 was 16.5% higher than the same month last year, according to official data published in October by the Insolvency Service. Corporate insolvencies decreased to a total of 1,967 compared to August’s total of 2,319, but compared to September 2022’s figure of 1,688, they increased by 16.5%. Nicky … Continued
Britain’s economy partially recovered in August, with a marginal growth of 0.2% following a sharp fall in July. This slow growth has fuelled expectations that the Bank of England’s (BoE) Monetary Policy Committee will vote to maintain its base interest rate at 5.25% next month. The BoE halted its run of interest rate increases in … Continued
The Chancellor of the Exchequer, Jeremy Hunt, has announced that he will present the Autumn Statement to Parliament on 22 November. Hunt will use the Statement to set out future tax plans and departmental spending plans, although he may hold back on serious plans amid inflationary pressures. The Chancellor may also decide against favourable announcements … Continued
The UK is no longer a global economic outlier after a huge revision to its post-pandemic economic performance by the Office for National Statistics (ONS). GDP, the size of the country’s economy, climbed back above pre-pandemic levels by the end of 2021, the ONS said last week — much higher than previously thought. The ONS … Continued
Employers are turning to generous counter-offers in a bid to retain staff as skills shortages persist, new research suggests. According to the Chartered Institute of Personnel and Development (CIPD), 51% of employers who make counter-offers to keep employees have offered a higher number over the last 12 months. A quarter of employers who have made … Continued
HMRC has reopened the self-assessment tax helpline from 4 September after it was closed for three months over the summer. Between 12 June and 3 September, callers were redirected to digital services to give HMRC staff time to deal with other phone enquiries and handle the postal backlog. This was not the first time HMRC … Continued
Growth remained sluggish between April and June 2023, with GDP growing by 0.2% in the second quarter of 2023 following a 0.1% rise in the first. Monthly estimates also show that GDP grew by an estimated 0.5% in June 2023 after falling by 0.1% in May and rising by 0.2% in April. Growth of 1% … Continued
Rising interest rates and frozen thresholds will force over one million more taxpayers to pay taxes on their savings interest this tax year, new data reveals. Over 2.7 million individuals will pay tax on cash interest in the 2023/24 tax year, up by a million in a single year as more savers breach the personal … Continued
Real wages in June 2023 were higher than a year ago for the first time in 18 months, ending a pay squeeze across Britain. Wages grew by 7.8% in the three months to June, the fastest annual rate since records began in 2001, according to figures from the Office for National Statistics. Darren Morgan, ONS … Continued
One in five British importers have altered their supply chains because of geopolitical tensions, particularly with China, new research suggests. A survey by the Institute of Directors (IoD), found that 20.5% of importers have altered their supply chains because of tensions abroad, while a further 14.5% were considering doing the same. Just 42.4% of importers … Continued
The Easter Bunny has come early!🐣Chocolate inspired pay day treat for all our lovely staff 🍫 🐇
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🎄Merry Christmas🎄
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