08 Dec 2020 An analysis carried out by the British Chambers of Commerce (BCC) has suggested that businesses lack detailed official information on the rules that are set to take effect once the Brexit transitional period ends on 31 December. The BCC found that businesses have insufficient information in regard to 24 critical areas. This
On 25 November Chancellor Rishi Sunak delivered his latest Spending Review to the House of Commons, and stated that the coronavirus (COVID-19) pandemic has caused ‘lasting damage’ to the UK economy. The economy is forecast to shrink by 11.3% this year and is not expected to return to its pre-pandemic size until the end of
The government has updated and enhanced the self-employed grant scheme, making this more generous than previously. This recognises the increased impact of coronavirus, amnd the lockdown through November. The grant will be increased from the previously announced level of 40% of trading profits to 80% for November 2020. This therefore increases the total level of
In view of the November lock-down, the government has announced the following additional support measures for business. More detialed guidance in relation to the various schemes is expected shortly. Job Retention (Furlough) Scheme – extended to 2nd December – paid at 80% for all hours not worked (either full or part-time) Local authority administered grants
The Chancellor announced the following additional support measures for business in his statement on 22nd October. Enhanced Job Support Scheme – For staff having to work part-time due to Coronavirus, the Government to pay up to 61.66% of wages for those hours not worked. Local authority administered grants for the hospitality and leisure sectors in
Winter Economy Plan On Thursday 24 September Chancellor Rishi Sunak provided some details of the government’s plan to protect jobs and support businesses over the coming months. We set out the main announcements below. Job Support Scheme The existing job support scheme – the furlough scheme – comes to an end on 31 October. The
Chancellor Rishi Sunak delivered his first Budget, and the first since the UK’s departure from the European Union, against the backdrop of the coronavirus outbreak. The Chancellor announced a £30 billion stimulus package to support the economy through coronavirus contagion and pledged to give the NHS whatever extra resources are needed to cope. Following the
Business groups have responded to the key announcements made in Chancellor Philip Hammond’s Autumn Budget speech. The Federation of Small Businesses (FSB) welcomed the reforms to the business rates system. Mike Cherry, its National Chairman, commented: FSB presented a series of reforms to the Chancellor to make the business rates system fit for the future,
Within his Autumn Budget speech, Chancellor Philip Hammond reported on an economy that continues to grow, continues to create more jobs than ever before and continues to confound those who seek to talk it down. However, in its report prepared for the Autumn Budget, the Office for Budget Responsibility (OBR) revised down its outlook for
Chancellor Philip Hammond’s first Autumn Budget was delivered against a backdrop of economic and political turmoil, fuelled partly by ongoing uncertainty in the Brexit process. Acknowledging that the UK has entered a critical phase of negotiations, the Chancellor set out his vision of a new relationship with the European Union – though he was
