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Over half of businesses set to increase prices

Three out of five companies expect to increase their prices in the next three months due to the continuing supply chain disruption, soaring inflation, and rising energy costs The 58%…
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£1bn support package for businesses hit by omicron

The Chancellor has announced a £1bn support package including grants for the hospitality sector and a sick pay rebate scheme as omicron variant spreads Businesses in the hospitality and leisure…
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Furlough scheme supported 11.7m jobs but mistakes will be costly

The latest figures on use of the Coronavirus Job Retention Scheme show that 11.7m jobs were supported by furlough throughout the pandemic, highlighting the risk of HMRC investigations Since the…
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£4.9bn of covid loans missed by ‘inadequate’ fraud prevention

The government’s measures to prevent fraud in its bounce back loan scheme (BBL) have been labelled inadequate by National Audit Office (NAO) and were introduced too late.   A report…
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HMRC blocked £28m of furlough claims

HMRC stopped less than £30m worth of furlough claims in the first year of the Coronavirus Job Retention Scheme (CJRS) Figures obtained through a Freedom of Information (FOI) request revealed…
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Business optimism high despite low cash reserves

A third of UK owner-managed businesses report lower cash reserves now than when going into the pandemic but a worrying percentage do not plan to pay back covid loans. However,…
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HMRC staff unlikely to manage increased tax debt

With the UK’s tax debt more than double pre-pandemic levels, current staffing at HMRC is unlikely to be enough to manage the increased tax debt workload warns National Audit Office…
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Furlough numbers at a record low in September

The number of people on furlough fell to a record low during its last month of operation with a further 210,000 coming off the scheme according to the latest figures…
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Half a million businesses in ‘significant financial distress’

The latest red flag research by Begbies Traynor recorded that 562,550 businesses were in ‘significant financial distress’ in the third quarter 2021 (Q3) The figures show that the numbers have…
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Winding up petitions: what you need to know

Pandemic crisis restrictions are beginning to be lifted but what are the changes and what can you do if a winding-up petition is issued against your business?  Surprisingly corporate insolvencies…
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