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Below you'll find a list of all posts that have been categorized as “Business News”
The US Tax Season is almost upon us, a time when individual taxpayers and corporations prepare their financial accounts and reports for the year ending and submit their tax returns. The US Tax Season will take place as usual between January 1st and April 15th, 2022. With the approach of the …
The French Tax Administration has announced that effective 1st January 2022, all import VAT will be mandatorily deferred to the French VAT return via the declaration of an import VAT reverse charge. So, what is import VAT reverse charge? The import VAT reverse charge is an existing mechanism in France, …
New restrictions in England aimed at limiting the spread of the Omicron variant of Covid-19 are a ‘setback for businesses’ the Confederation of British Industry (CBI) has warned. The new rules, require masks in most public places, including theatres and cinemas. In addition, people will be asked to work from …
The UK’s economy will grow more slowly than previously expected, according to the latest data from the Confederation of British Industry (CBI). The CBI cut its forecasts for economic growth to 6.9% in 2021 and 5.1% in 2022 from previous estimates of 8.2% and 6.1%. The business group said that …
A typical UK family will spend £1,700 more per year on household costs in 2022, according to a forecast for BBC Panorama. The analysis, conducted by the Centre for Economics and Business Research (CEBR), projected that the inflation rate would rise to 4.6% by Christmas. This rise is mainly due …
A report published by the Institute for Fiscal Studies (IFS) has suggested that the gender pay gap ‘has barely shifted’ in the past 25 years. The business group found that the pay gap remains, ‘despite the fact that women are now considerably more likely than men to be graduates’. According …
If you or your business are selling goods in France or Germany, then the 1st of January 2022 is a significant date. New EPR legislation comes into effect that requires Producers to register for EPR and file EPR returns, and for online marketplaces to collect and validate your EPR registration …
As part of its Tax Administration and Maintenance (TAM) Day, the government responded to a two-part review of capital gains tax (CGT) published by the Office of Tax Simplification (OTS). Earlier this year, following a request from Chancellor Rishi Sunak, the OTS made a series of recommendations for simplifying CGT. …
The UK government has marked the inaugural Tax Administration and Maintenance (TAM) Day with the release of 30 papers covering a wide range of tax issues. Chancellor Rishi Sunak made the commitment to have a TAM Day in the Autumn Budget. The aim was for a dedicated day for the …
Optimism improved for firms across the services sector in the three months to November, according to the latest Service Sector Survey from the Confederation of British Industry (CBI). However, cost growth continued to pick up, increasing at the fastest pace since survey records began in 1998. Additionally, business volumes continued …
Research carried out by manufacturers’ organisation Make UK has suggested that more than a third of manufacturers in the UK are struggling with rising costs, debt and business red tape. 40% of manufacturers surveyed said that they had consulted an insolvency specialist or are looking to do so in the …
House sales in the UK plummeted by more than half in October after the stamp duty holiday ended. There were nearly 77,000 transactions in the UK during October, a 52% fall compared to September, according to HMRC statistics. HMRC says this was down to buyers pushing through purchases before 30 …
Q4 is the most important time of year for any e-commerce seller, and it is already well underway. While for consumers the highlight of the quarter is typically the Christmas holidays, for retailers the crown jewel comes much earlier in the form of Black Friday and, to an increasing amount, …
There were 160,000 more workers on payrolls in October than in September despite the end of the furlough scheme, according to the latest figures from the Office for National Statistics (ONS). Job vacancies also hit a record high of 1.17 million in the three months to October as firms continued …
The standard three-day waiting time for Statutory Sick Pay (SSP) will be reinstated for coronavirus (COVID-19)-related claims from 25 March 2022, unless the government intervenes. Under standard rules in the UK, employers do not have to pay SSP to an employee until the fourth qualifying day in the Period of …
Are you looking to sell on Shopify or are you already trading there? Have you registered for Sales Tax? All sellers need to consider whether they need to register for local Sales Tax in each State they sell or have a physical presence in, if they are selling on Shopify …
HMRC has warned taxpayers completing their 2020/21 tax returns to ‘be on their guard’ and stay vigilant in regard to tax-related scams. Nearly 800,000 tax scams were reported in the last year, HMRC revealed. It said that fraudsters use self assessment to attempt to steal money or personal information from …
Over 300,000 people working for almost 9,000 Real Living Wage employers throughout the UK are set for a pay boost as the Living Wage rates. From 15 November the Real Living Wage increased to £9.90 across the UK and £11.05 in London. This is higher than the compulsory National Living Wage (NLW), which …
Only one third of businesses plan on cutting their greenhouse gas emissions over the next year despite the UK’s recent net-zero efforts, according to the Office for National Statistics (ONS). According to the ONS’s report, 11% of businesses are not taking action to reduce their emissions, with 13% stating that …
UK economic growth slowed between July and September as supply chain problems hindered the recovery from the pandemic, according to the latest data from the Office for National Statistics (ONS). Gross domestic product (GDP) expanded by a slightly weaker than expected 1.3%, down from 5.5% in the second quarter, according …
HMRC saw a drop of almost £30 billion in tax revenues in the latest financial year because of the pandemic, according to its annual accounts. In its 2020/21 annual report, HMRC reported that it had collected £608.8 billion in tax revenues, which is down from £636.7 billion collected in 2019/20. …
The Bank of England has hinted that it may raise interest rates in the coming months. Interest rates may have to escalate in response to increasing levels of inflation. Policymakers at the Bank recently voted to hold interest rates at the record low rate of 0.1%. The Bank’s Monetary Policy …
The Office for Budget Responsibility (OBR) has warned that household finances are not set to return to their pre-COVID levels until 2023. In a hearing with MPs, Charlie Bean, a board member for the OBR, stated that incomes are not set to return to their 2019 levels for at least …
It is easier than ever to build an unsustainable business. 2019 saw the largest class of unprofitable IPOs since the DotCom era. This is one of the reasons so many entrepreneurs fail: not investing in a solid financial strategy and not conducting rigorous financial reviews from the outset. But even …
A report published by the Federation of Small Businesses (FSB) has revealed that the costs associated with going green have impacted small firms’ plans for becoming more sustainable. The FSB’s report found that the majority of UK small firms are concerned about climate change but just one in three has …
Research carried out by think tank Parliament Street has revealed that HM Treasury received almost five million malicious emails over the past three years. A Freedom of Information (FoI) request submitted by Parliament Street found that 4,870,389 malware, phishing and spam emails were blocked by the Treasury over the three …
UK manufacturing output volumes in the quarter to October grew at a similarly firm pace to September, according to the Confederation of British Industry (CBI). The latest quarterly CBI Industrial Trends Survey shows manufacturers reported output increasing in 11 out of 17 sub-sectors. Growth was driven by the chemicals, aerospace, …
At some point in your life, you have likely encountered what is known as an armchair warrior. Someone who has a lot of criticisms and opinions about how to solve a problem but is not interested in being part of those proposed solutions. In looking for a reliable business consultant, …
At AVASK, we understand how important it is to create a seamless shopping experience for customers regardless of where they are globally. But the wide variety of different currencies and financial regulations can make this a daunting prospect, sometimes to the point of preventing e-commerce sellers from expanding their businesses. …
Businesses that are planning to operate in the UK’s new freeports can now apply to HMRC. The tax authority has published the application forms to operate special customs procedures within the sites, along with further guidance on procedures for declaring goods moving into and out of sites. Freeports are areas …
