Business leader calls for action on skills to support the recovery
The boss of one of Britain’s most influential business organisations has called on the Government to take action to make sure the UK’s economy does not stall because of labour shortages.
The Director-General of the Confederation of British Industry (CBI) says business also has a part to play to keep the recovery going.
Tony Danker’s remarks come on the back of a raft of good news stories on the economy in terms of growth, increased job vacancies and a fall in unemployment.
How will the National Insurance and dividend tax increases affect me?
Taxpayers face an increase in their National Insurance contributions (NICs) and dividend tax rates from 2022. To explain how this significant change may affect you, please use our helpful FAQ below:
How much is the National Insurance rate increasing?
The Health and Social Care Levy will see a 1.25 percentage point increase in NICs.
When will National Insurance rates increase?
Temporary 5% VAT rate rises to 12.5% as business opens up
Businesses that have benefited from a cut in the VAT rate will see the temporary figure of 5% rate increase at the end of September to 12.5%.
UK business confidence hits a four-year high
Business confidence in the UK is at the highest level for more than four years according to a new survey, with nine of the 12 UK regions expecting growth.
The monthly Lloyds Business Barometer research highlights the performance of businesses with a turnover of £1 million or more across the UK and shows confidence in the construction, manufacturing and services sectors rising sharply.
New guidance for partnerships claiming fifth SEISS grant
HM Revenue & Customs (HMRC) has clarified its guidance for members of partnerships claiming the fifth Self Employment Income Support Scheme (SEISS) grant.
The changes follows the introduction of the new ‘turnover test’, requiring claimants to compare the revenue of two tax years.
What is the ‘turnover test’?
Economic boost as record borrowing levels slashed
There was more good news on the economy as we emerged from lockdown, with official figures showing UK borrowing had been slashed in July, compared with the same period last year.
The news comes as all Covid restrictions are now lifted, with more people returning to near normal lives.
Staff shortages leave food manufacturers looking for inmates to cover work
Food manufacturers in desperate need of workers are pleading for the UK Government to enable the companies to use prisoners to solve the staff shortage disaster – a fault of Brexit and COVID-19.
Tax-relief schemes may help start-ups raise outside investment – ICAEW
Tax-relief schemes may help start-ups and established businesses attract outside investment when traditional investment is not viable, a major regulator has said.
The Institute of Chartered Accountants in England and Wales (ICAEW) said initiatives, such as the seed enterprise investment scheme (SEIS) and the enterprise investment scheme (EIS), may help even the smallest of firms raise capital.
Good news on jobs and growth a boost for business
The UK economy has had two major boosts this week with growth in the economy and in the jobs market, according to figures from the Office for National Statistics (ONS).
Staff shortages: increased wages to entice workers could mean higher prices for customers
Due to the ongoing staff shortages caused by the pandemic, UK restaurants have had to increase employee wages to entice chefs and waiters – which could mean higher prices for customers.
