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HMRC guidance on goodwill valuations

The valuation of business goodwill for tax purposes is very subjective and is often a contentious area. HMRC have recently updated their guidance in their Shares and Assets Valuation Manual.

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Bank of England raises base rate to 3%

The Bank of England has raised the base rate of interest by 0.75 percentage points to 3% - the single biggest increase in more than three decades.

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NIC Rate Change goes ahead

The legislation to abolish the 1.25 percentage point increase in the rate of National Insurance Contributions (NICs) paid by workers, employers and the self-employed was already in progress when the recent Budget U-turns were being made.

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New Prime Minister and cabinet – tough decisions ahead!

A new period of this government begins for us all, again! We have a new Prime Minister, Rishi Sunak and a new cabinet facing the toughest economic conditions in decades.

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Business groups respond to Prime Minister's resignation

Business groups have reacted to Prime Minister Liz Truss's resignation on 20 October.

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Skills shortages hit 75% of UK businesses

Three quarters of UK firms have been hit by labour shortages in the past 12 months, according to a survey conducted by the Confederation of British Industry (CBI).

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Inflation returns to 40-year high

The rate of inflation rose to 10.1% in September as the economy felt the effects of rising prices and the fallout from the Mini Budget

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Energy Bill Relief Scheme for non-domestic customers

The Energy Bill Relief Scheme (EBRS) will provide energy bill relief for non-domestic customers in Great Britain (Scotland, England and Wales).

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Young people at work

The Health and Safety Executive (HSE) have a dedicated webpage for employers reminding them of the need to be extra cautious with the safety of young people.

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A fiscal U-turn without precedent!

Over the last few days, we have seen a gradual dismantling of the mini-budget of Friday 23 September 2022, along with the economic policies that Prime Minister Liz Truss based her leadership campaign on.

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Start-up loans expanded

The UK Government has announced an enhancement to the eligibility criteria of the Start Up Loans initiative

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Business asset finance explained

Business asset finance is an agreement that enables businesses to obtain the assets needed to manage and/or expand effectively and spread the cost/outlay.

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Chancellor U-turns on plans to scrap 45p tax rate

Chancellor Kwasi Kwarteng has confirmed that the government has U-turned on its plans to scrap the 45p rate of income tax

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HMRC raises late payment interest from 11 October

HMRC will raise interest rates on tax debt from 11 October following the 0.5% increase in the base rate.

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Employers warned over auto enrolment duties

Employers warned over auto enrolment duties Employers are being warned to ensure they are complying with their ongoing automatic enrolment duties by the Pensions Regulator (TPR).

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Mini Budget 2022: Our summary

The Chancellor used the speech to announce a new Growth Plan with the 'biggest package of tax cuts in generations'

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Energy bills for businesses to be halved this winter

Businesses will be given financial support for six months to cover up to 50% of their energy bills in the latest move by government to mitigate soaring energy costs

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Thinking of retirement?

The ultimate aim of every serious business person is to build a company that has value, so that it can be sold or transferred

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Small Businesses – how to deal with data protection complaints

The Information Commissioner’s Office (ICO) has written a guide to help small businesses deal with complaints about how they’ve used people’s information

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HMRC Customs Update – Take action now to continue importing goods

If your business imports goods into the UK, then you need to move to the Customs Declaration Service (CDS) now. If you do not, you will not be able to import goods into the UK from 1 October 2022.

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