Disruptions due to the weather can happen anywhere at any time. Taking time to plan and prepare your business can save you time and money when something untoward happens.
There are simple steps all businesses can take to ensure that they are prepared for adverse weather such as:
Businesses are also encouraged to be aware that harsh weather conditions could leave staff unable to travel to work and therefore should evaluate the risks and provide solutions to being understaffed during this time.
See: Preparing for emergencies - GOV.UK (www.gov.uk)
HM Revenue & Customs (HMRC) is urging Self-Assessment customers to be on the lookout for scam texts, emails, and phone calls from fraudsters.
Scammers impersonating HMRC
With a large number of people expected to submit a Self-Assessment tax return for the 2022-23 tax year before the 31 January 2024 deadline, fraudsters will prey on customers by impersonating HMRC.
The scams take different approaches. Some offer a tax rebate; others tell customers that they need to update their tax details or threaten immediate arrest for tax evasion.
What to do if you suspect a scam
An unexpected contact claiming to be from HMRC should be viewed as suspicious. Take your time and check HMRC's scam advice on how to identify tax scam phone calls, emails, and text messages.
You can report any suspicious communications to HMRC by:
If you need to file a Self-Assessment tax return for the 2022 to 2023 tax year, you must do so and pay the tax you owe by the deadline of midnight on Wednesday 31 January 2024.
See: Self Assessment tax returns: Overview - GOV.UK (www.gov.uk)
From 6-10 November the British Business Bank, along with several partners from across the UK, will host Business Finance Week 2023.
With a host of free of charge nationwide and regional in-person events, webinars and more, Business Finance Week helps smaller businesses learn about the different finance options available to them to support their individual needs.
Some of the events running are:
See: Business Finance Week 2023 - British Business Bank (british-business-bank.co.uk)
The amount of VAT a business pays or claims back from HM Revenue and Customs (HMRC) is usually the difference between the VAT charged by the business to customers and the VAT the business pays on their own purchases.
With the Flat Rate Scheme:
The main benefits of the scheme are:
HMRC has launched new online form for businesses to apply for the VAT flat rate scheme: Form VAT600FRS.
The Flat Rate Scheme isn’t the best choice for all businesses. Depending on your sector, you may find that you pay more VAT this way than through standard VAT accounting, so please talk to us and we can give you all the information to make the right choice.
See: Flat Rate Scheme for small businesses (VAT Notice 733) - GOV.UK (www.gov.uk)
Changes to Alcohol Duty took effect on 1 August 2023. This includes new reliefs which could reduce your tax bill:
Please contact us to check if you can take advantage of the new reliefs and transitional arrangements for producers and importers of some wine products.
You can find guidance on the new Alcohol Duty rates, Small Producer Relief, and how to submit returns and pay duty here: Alcohol Duty from 1 August 2023 - GOV.UK (www.gov.uk)
As the winter sets in, the cost of energy will be a key issue for all businesses.
The High Value Manufacturing (HVM) Catapult has launched a pilot scheme to help small manufacturers cut energy usage. The Manufacturing Energy Toolkit is a guided assessment which is carried out by HVM Catapult experts to create a better understanding of energy usage and sources.
With the Manufacturing Energy Toolkit, the HVM Catapult is opening its doors to help manufacturers make their processes more energy efficient, cutting their energy costs and greenhouse gas emissions by up to 46%.
See: Manufacturing Energy Toolkit for SMEs - HVMC (catapult.org.uk)
Listed below are a number of live HMRC webinars that will give the self-employed an understanding of key taxes that affect them.
Business expenses for the self-employed
Tue 31 Oct at 9:45am
Car expenses for the self-employed
Thu 2 Nov at 9:45am
Construction Industry Scheme for contractors
Thu 9 Nov at 9:45am
Construction Industry Scheme for subcontractors
Mon 13 Nov at 11:45am
How to apply the VAT reverse charge for construction services
Tue 14 Nov at 1:45pm
Company directors - payroll and you
Tue 21 Nov at 1:45pm
Capital allowances and vehicles
Wed 22 Nov at 11:45am
Wed 13 Dec at 11:45am
By paying the real Living Wage, employers are voluntarily taking a stand to ensure their employees can earn a wage which is enough to live on.
As well as it being the right thing to do, there is a growing body of evidence demonstrating the business benefits of becoming a Living Wage employer.
The Living Wage rates are independently calculated based on the real cost of living in the UK and London.
The new rates for 2023/24 are:
See: Real Living Wage increases to £12 in UK and £13.15 in London | Living Wage Foundation
Innovate UK, part of UK Research and Innovation, will invest up to £1 million in collaborative innovation projects with an artificial intelligence (AI) focus, that aim to benefit the wider UK music sector. This funding is part of Innovate UK's Creative Catalyst.
Projects must:
To be eligible, applicants must collaborate with industry stakeholders to unlock the full potential of AI applications across the value chain, supporting and uplifting the music industry, and driving long term creative and commercial success.
Collaborators can be international but organisations outside of the UK cannot be funded. Industry stakeholders can also be from within the music industry or from an industry that will benefit the UK music sector.
Innovate UK is interested in proposals across the whole music industry including live, recorded and publishing. Applications which partner with organisations within the traditional music industry supply chain (for example, music labels and music venues) are encouraged.
The deadline for applications is 11am on Wednesday 22 November 2023.
The Department for Transport (DfT) has refreshed the newly named Air passenger travel guide, making it easier for passengers to know their rights and responsibilities when they travel.
Formerly known as the aviation passenger charter, it details what people can expect from airlines, travel agents, tour operators and airports, and what to do if things don’t go to plan.
This includes advice on what to do if flights are cancelled or delayed, if baggage goes missing, and the rights of disabled passengers, as well as guidance on how to complain if passengers feel they have been treated unfairly.
The travel guide also provides general advice for all aspects of your journey, such as what to expect at passport control, what you can bring through UK customs and how to manage connecting flights.
It also reminds passengers to regularly check the Foreign, Commonwealth and Development Office (FDCO) website for the latest security and safety advice before booking travel, as well as what counts as an extraordinary circumstance when compensation isn’t available.
The advice also makes clear that while security checks are changing over the coming months, they should continue to be prepared to remove electronics and small liquids from their bags when travelling by air.
See: Air travel guidance refreshed to give passengers more clarity on their rights - GOV.UK (www.gov.uk)
More zero emission trucks are set to drive on the roads due to UK government funding to decarbonise freight vehicles.
With heavy goods vehicles (HGVs) alone contributing 20% to all transport emissions across the UK, the £200 million in government funding announced in October will be invested across 4 green projects to roll out up to 370 zero emission HGVs.
Delivered in partnership with Innovate UK, the zero emission HGV and infrastructure demonstrator programme will also deliver around 57 refuelling and electric charging sites, providing much needed infrastructure to help the haulage sector decarbonise.
The International Stress Management Association [ISMAUK] is a registered charity and the lead professional body for workplace and personal stress management, supporting good mental health, wellbeing and performance.
International Stress Awareness Week 2023 takes place from 30 October to 3 November, is a major annual event focusing on stress management and campaigning against the stigma associated with stress and mental health issues.
Midway through the week, Stress Awareness Day falls on Wednesday 1 November.
See: Global Online Stress Summit | ISMA Stress Management Association
The student loans company has issued the following information to help customers to contact them to discuss whether or not they are entitled to a repayment.
They state that repayment call waiting times are currently ”longer than usual” and they are asking customers to first check if they’re due a refund using their dedicated page Repaying your student loan: Getting a refund - GOV.UK (www.gov.uk).
Customers who think they might have made a repayment in a previous tax year, but earned below that tax year’s annual repayment threshold can check their previous year’s statements on their online account https://www.gov.uk/sign-in-to-manage-your-student-loan-balance.
Repayment thresholds vary depending on what loan plan a customer is on, to check the plan type visit: https://www.gov.uk/repaying-your-student-loan/which-repayment-plan-you-are-on
See: Update on Repayment contact services - GOV.UK (www.gov.uk)
