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UK insolvencies 33% above pre-pandemic levels

The number of company insolvencies in England and Wales jumped by a third compared to pre-pandemic levels in December 2021 The number of registered company insolvencies reported in December 2021…
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Changes to VAT penalty regime delayed until 2023

The government has announced plans to delay the introduction of penalties for late submission of VAT returns. The new penalty system was due to come into effect from 1 April…
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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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Businesses need tax and trade skills for growth

Businesses believe that they will need skills in finance, trade, and taxation to help them navigate business growth over the next 20 years. According to the Lloyds Bank Business Barometer,…
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SMEs not returned to pre-Covid turnovers

Accountants believe that more than one in four UK SMEs have still not returned to pre-Covid-19 levels of productivity or turnover. The latest Association of Chartered Certified Accountant’s (ACCA) SME…
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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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Bank of England raises base rate to 0.25%

The Bank of England has raised the bank base rate for the first time in three years to 0.25%, despite concerns over omicron variant. At its meeting ending on 15…
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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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Majority of businesses expect cyber security threat to increase

Two thirds (66%) of UK business leaders expect the threat from cyber criminals to increase over the next 12 months, according to the latest PwC cyber security survey The findings…
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Businesses fear Christmas trading disruption

The bi-monthly survey of 500 business leaders from accountancy firm revealed that a third of businesses surveyed expect to increase the prices of their goods and services as a direct…
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