News and Information from AVASK about the UK Government

Business confidence boosted by plans to re-open UK economy

AVASK Marketing Business News

A survey carried out by the Institute of Directors (IoD) has revealed that confidence amongst UK businesses has been boosted by plans to re-open the UK economy. The IoD’s latest confidence tracker found that business leaders’ net optimism in the outlook for their organisations rose from +36 to +41. From …

News and information affecting businesses from AVASK

IMF upgrades UK economic forecasts for 2021 and 2022

AVASK Marketing Business News

The International Monetary Fund (IMF) has upgraded its UK economic forecasts for 2021 and 2022. The IMF predicts economic growth of 5.3% this year and growth of 5.1% in 2022. However, the UK economy is still only predicted to return to its pre-pandemic size by late 2022. Had governments failed …

News and information from AVASK about HM Treasury, London, UK

Start of new tax year ushers in raft of fiscal changes

AVASK Marketing Business News

The 6 April start of the new tax year sees important fiscal and business changes come into effect, including the introduction of the new coronavirus (COVID-19) Recovery Loan Scheme (RLS). The RLS provides financial support to businesses affected by the COVID-19 pandemic. The scheme gives lenders a guarantee of 80% …

News and Information from AVASK about HMRC

Payment deadline looming for self assessment taxpayers

AVASK Marketing Business News

Self assessment taxpayers must pay any outstanding tax liabilities in full or set up an online payment plan for the 2019/20 financial year by 1 April to avoid incurring penalty charges, HMRC has stated. Normally a 5% late payment penalty is also charged on any unpaid tax that is still …

News and Information from AVASK about the COVID-19 Coronavirus and how AVASK is responding

Business rates relief extended with £1.5 billion fund

AVASK Marketing Business News

The government is to extend business rates relief with a £1.5 billion fund targeted at those businesses unable to benefit from the current coronavirus (COVID-19) support. Retail, hospitality and leisure businesses have not been paying any rates during the pandemic as part of a 15 month-long relief which runs to …

News and information from AVASK about Chancellor of the Exchequer, Rishi Sunak

Chancellor responds to OTS report on inheritance tax

AVASK Marketing Business News

Chancellor Rishi Sunak has responded to a report on inheritance tax (IHT) published by the Office of Tax Simplification (OTS). The OTS report recommended that the government should implement a fully integrated digital system for IHT, ideally including the ability to complete and submit a probate application. The OTS also …

News and Information from AVASK about HMRC

Thousands missing out on Tax-Free Childcare bonus

AVASK Marketing Business News

Thousands of families across the UK are missing out on the chance to save money on the costs of childcare, HMRC has revealed. Tax-Free Childcare (TFC) permits parents and carers who have children aged up to 11 (17 for children with disabilities) to pay their childcare provider via the scheme …

News and information from AVASK about HM Treasury, London, UK

UK economy shrank in January, data reveals

Mike Business News

The UK economy shrank by 2.9% in January as the third coronavirus (COVID-19) lockdown took its toll and Brexit hit exports, according to the latest figures from the Office for National Statistics (ONS). The ONS said that the drop was caused by declines in retail trade and education as non-essential …

News and Information from AVASK about the UK Government

£20 million SME Brexit Support Fund opens for applications

AVASK Marketing Business News

The UK government has unveiled a £20 million Brexit support package to help small and medium-sized enterprises (SMEs) with changes to trade rules with the EU. The SME Brexit Support Fund aims to help businesses prepare for the implementation of import controls which come into force from April and July. …

News and information affecting businesses from AVASK

Extend Kickstart Scheme by six months, urges CBI

Mike Business News

The government should extend the Kickstart Scheme application deadline until June 2022, the Confederation of British Industry (CBI) has stated. Kickstart was launched in September and promised to pay the wages and associated employment costs for businesses taking on 16 to 24-year-olds in receipt of Universal Credit for six-month contract …

Female freelancers have faced ‘disproportionate financial struggle’ during pandemic

AVASK Marketing COVID-19 News, English

Research carried out by the Association of Independent Professionals and the Self-Employed (IPSE) has found that female freelancers have faced a ‘disproportionate financial struggle’ during the coronavirus (COVID-19) pandemic. IPSE said that one of the key issues facing female freelancers is late payment. 49% of freelancers reported that they experienced …

News and information from AVASK about HM Treasury, London, UK

Government publishes details of Finance Bill 2021

AVASK Marketing Business News

Details of Finance Bill 2021 have been published by the government. The Bill outlines the key measures set to be brought into legislation, including many measures announced in the recent 2021 Budget. In his Budget speech, Chancellor Rishi Sunak announced an extension of the stamp duty holiday in England; a …

News and information from AVASK about HM Treasury, London, UK

Over £46 billion borrowed through Bounce Back loans

AVASK Marketing Business News

More than 1.5 million Bounce Back loans have been taken out since the coronavirus (COVID-19) support scheme was launched last May, with borrowing by businesses now over £46 billion, according to the Treasury. The existing loan structure is set to be replaced in April with a new Coronavirus Recovery Loan …

News and information from AVASK about Chancellor of the Exchequer, Rishi Sunak

2021 Budget – the economic picture

AVASK Marketing Budget, Business News, English

Within his Budget speech, Chancellor Rishi Sunak unveiled billions in financial support for businesses and families adversely affected by the coronavirus (COVID-19) pandemic. The Chancellor confirmed the extension of a number of COVID-19 support schemes, including the Coronavirus Job Retention Scheme (CJRS), which will now run until September, and the …

News and information from AVASK about Chancellor of the Exchequer, Rishi Sunak

2021 Budget – the political reaction

AVASK Marketing Budget, Business News, English

Addressing the House of Commons, Chancellor Rishi Sunak used the 2021 Budget to ‘do whatever it takes’ to financially support people and business as the UK recovers from the coronavirus (COVID-19) pandemic. However, Labour Party leader Keir Starmer stated that the Chancellor delivered a Budget that merely ‘papered over the …

News and information from AVASK about Chancellor of the Exchequer, Rishi Sunak

2021 Budget – the business reaction

AVASK Marketing Budget, Business News, English

Business groups have responded to Chancellor Rishi Sunak’s 2021 Budget speech. The Confederation of British Industry (CBI) stated that the Budget ‘succeeds strongly in protecting the economy now and kickstarting recovery’ from the coronavirus (COVID-19) pandemic. Tony Danker, Director General of the CBI, said: ‘The Chancellor has gone above and …

News and information from AVASK about Chancellor of the Exchequer, Rishi Sunak

2021 Budget – what to expect

AVASK Marketing Budget, Business News, English

Chancellor Rishi Sunak will deliver the 2021 Budget speech today at 12:30pm. We will keep you up to date on the key Budget announcements and supply a full summary, which will appear on our website tomorrow morning. Speculation is rife that the Chancellor will announce additional support for UK workers …