The new Chancellor of the Exchequer, Jeremy Hunt, was only appointed on Friday 14 October 2022. However, following another turbulent weekend, the Chancellor made not one but two important statements on 17 October 2022 about the future of the economy. The first, an emergency televised statement to the nation and the second, a statement to

The Information Commissioner’s Office (ICO) is producing topic-specific guidance on employment practices and data protection. It has stated that it’s going to release its drafts of the different topic areas in stages and so add to the resource over time. To start this staged process off, it has now released its draft of the guidance

If your suppliers offer you goods or services on credit, this will have a beneficial impact on your cashflow. You will have had the benefit of using the goods or services supplied, and the funds to pay for them, initially, stay in your bank account. This benefit can be multiplied if you are able to

If the government is successful in achieving a boost to economic growth, how might this apparent success be a possible threat to your business? During recent months, many businesses have been faced with paying fixed costs – rent for example – even if turnover has reduced or been eliminated due to various disruptive influences. Recent

The Chancellor, Kwasi Kwarteng has announced plans to scrap the proposed removal of the 45p tax rate from April 2023. The proposed removal of the 45p Rate was first announced as part of the Growth Plan measures on 23 September 2022. However, the change sparked a backlash that has sent shockwaves through the financial markets and even

The list of challenges facing UK businesses in the coming winter months are formidable: Inflation Interest rate hikes Continuing supply-line issues Energy prices Transport costs Economic slow-down Possible recession Now we will have a reasonable understanding of government support measures and tax changes (following Chancellor Kwarteng’s recent announcements and U-turn) now is the perfect time

One of the measures the Chancellor of the Exchequer, Kwasi Kwarteng referred to in the delivery of the Growth Plan 2022 (commonly referred to as the mini-Budget) concerned moves to simplify IR35 rules. This measure was one of the pre-election promises of the new Prime Minister, Liz Truss. In the end it seems that the

Following action by the Competition and Markets Authority (CMA), NatWest is set to refund hundreds of business customers after it wrongfully forced them to open current accounts to secure a loan. The current accounts generated costs for the applicants. The CMA has found that NatWest breached CMA banking rules by forcing business customers to open

The Living Wage Foundation has announced that its voluntary UK real Living Wage has risen by £1.00 per hour from £9.90 to £10.90 per hour, the largest year-on-year rise since it took effect 11 years ago. Its London real Living Wage has risen by 90p per hour from £11.05 to £11.95 per hour. Over 390,000

The new Chancellor of the Exchequer, Kwasi Kwarteng, delivered a fiscal statement referred to as The Growth Plan 2022 on 23 September 2022. The statement to a packed House of Commons centred on the government’s plans for generating growth. Colloquially referred to as a mini-budget, it would perhaps be more fitting to refer to the