The Valuation Office Agency (VOA) has issued a warning about false claims being made about the deadline for appealing the 2023 list for business rates. Some are claiming that the deadline is 30 June, however this is not true. Generally, you are able to appeal your property valuation on the 2023 list at any time until March 2026.
Last week, the UK agreed a deal with Norway and the Faroe Islands that will help reduce the fishing pressure on mackerel. The deal gives access to Norway and the Faroe Islands to be able to fish some of their quota in the UK zone. In exchange for this, an annual transfer of some of their quota will be made to the UK.
Parents of children aged between 16 and 19 years of age and continuing their education or training after their GCSEs can extend the Child Benefit they receive. If this is true for you, then HM Revenue & Customs (HMRC) should be in the process of writing to remind you about this. On their letter, it will include a QR code.
The Health and Safety Executive (HSE) announced that they have fined Openreach £1.34 million after investigating the death of an engineer. The engineer, Alun Owen from Bethesda, tragically died while trying to repair a telephone line that ran across the River Aber in Abergwyngregyn.
Meta, the company behind Facebook and Instagram, have had plans to use Facebook and Instagram user date to train generative AI. The Information Commissioner’s Office (ICO), shared concerns with Meta that they had received from users in the UK. The ICO were subsequently pleased to report that Meta have responded by pausing and reviewing their plans.
Shawbrook Bank recently conducted research that indicated that half of small business owners have had to raid their savings to fund their businesses. Their survey found that small businesses applying for finance from lenders over the last year said that it didn’t meet their needs. So, they were using savings and credit cards to provide the necessary funds to grow their business.
The latest labour market report from the Office for National Statistics shows a few important trends that might affect your business. First off, it looks like the job market is starting to cool down. It’s estimated that there are fewer job openings now, which means businesses aren’t hiring as much as before. On top of that, the unemployment rate has gone up to 4.4%, which is higher than it was last year.
If you are a female entrepreneur in the UK, you can now access a new resource designed to help you access the finance you need to start, grow, and scale your business. The new hub is designed as a one-stop shop that provides the resources and information you need.
We reported last week that the Fisheries and Seafood Scheme (FaSS) had been reopened after a further £2 million of funding was made available. However, due to overwhelming demand the scheme has now been closed to new applications.
As accountants, we are often asked about the financial and tax implications of buying a second home. Sometimes the pull of a country or seaside retreat might inspire you to think about having a second home. Or maybe you have spare cash or income and are wondering if a second home could be a good investment.
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