The UK campaign will celebrate its fifth anniversary in December This year’s UK-wide Small Business Saturday campaign will take place on Saturday 2 December, it has been announced. The campaign, originally founded in the US by American Express in 2010, celebrates Britain’s small and micro businesses and encourages consumers to spend more at small
HM Revenue & Customs (HMRC) has launched a new Making Tax Digital for Business (MTDfB) pilot scheme, designed to ‘make it easier for customers to get their tax right’. The launch of the pilot scheme represents HMRC’s next step in moving taxpayers to a fully digital tax system. From April, businesses and their agents will
The Treasury Select Committee has requested an independent review into the estimated costs of mandatory quarterly tax reporting for small firms. The government’s Making Tax Digital (MTD) plans include requirements for small businesses to submit quarterly tax updates to HM Revenue & Customs (HMRC). However, many believe that the costs of the proposals to firms
As the 2017/18 tax year commences, a range of new tax and business measures have come into effect. The introduction of the new Apprenticeship Levy is amongst these new measures. This forms part of a government target to create three million new apprenticeships in England by 2020. The Levy requires employers with annual pay bills
The Chancellor has presented his Budget to Parliament – here’s a summary of what was announced. 1. The economic forecast Growth in the UK economy picked up through 2016. Employment has reached a record high of 31.8 million people. The Office for Budget Responsibility (OBR) now forecasts that the UK economy will grow by 2% in
Chancellor Philip Hammond presented his first and last Spring Budget to the House of Commons in belligerent form. Despite upgraded forecasts from the Office for Budget Responsibility (OBR), the Chancellor confirmed that he would stick to the government’s fiscal plan, with the stated aim of preparing Britain for a ‘global future’. The Chancellor announced a
Within his first Budget speech, Chancellor Philip Hammond reported on ‘an economy that has continued to confound commentators with robust growth’. In its report prepared for the Budget, the Office for Budget Responsibility (OBR) now predicts that the UK economy will grow by 2% this year, as opposed to its previous forecast of 1.4%. Economic
Business groups have responded to the key announcements made in Chancellor Philip Hammond’s Spring Budget speech. Commenting on the controversial issue of the upcoming changes to business rates, Mike Cherry, National Chairman of the Federation of Small Businesses (FSB), said: ‘FSB welcomes the fact that the Chancellor has listened to the small business-led campaign on
In his inaugural Autumn Statement speech, Chancellor Philip Hammond outlined a range of measures to support the economy as the UK prepares to face the challenges presented by the Brexit vote. Mr Hammond stated that the result of the EU referendum ‘makes more urgent than ever the need to tackle our economy’s long-term weaknesses’. He
Business groups have responded to the upcoming changes announced in Chancellor Philip Hammond’s inaugural Autumn Statement speech. Commenting on the government’s plans to implement business rates reductions, Mike Cherry, National Chairman of the Federation of Small Businesses (FSB), commented: ‘Our members are pleased with the confirmation of plans to reduce £6.7 billion from the business
