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Weekly Business News
September 9th Business News
Welcome to the DPC round up of some of important business news for our clients. Please contact us if you want to talk about how these updates affect your business. We are here to support you!
To view previous business newsletters, click here
Monthly Tax News
September 2024 Tax News
In this September issue we as if you should you pass on wealth now to avoid inheritance tax, look at HMRC checking on workplace nurseries, consider whether to set up a tax-free childcare account and more.
To view previous tax newsletters, click here
We are Hiring
Client Manager
In this role you will have responsibility for the management of a client portfolio of circa £400k including responsibility for achievement of monthly billing target. You will report directly into the Board of Directors.
Personal Tax Assistant
In this role you will work across a varied portfolio of up to 400 personal tax clients, from sole traders, property investors, to simple directors of owner managed businesses. Over time as you develop within the firm and role there will be increasing client contact / portfolio management responsibility and scope for involvement in delivering wider tax planning services.
Audit Senior
You will provide a wide range of audit services across a diverse range of clients, collaborating with internal and external stakeholders to deliver a high calibre audit service. Our audit function is growing, and the successful candidate will have a defined pathway for personal and professional development along with opportunities for career progression.
Tax Senior
You will manage a varied portfolio of personal tax clients, from sole traders, property investors, to simple directors of owner managed businesses, acting as a first point of contact. Our people first culture means you will benefit from high quality personal development and on the job training to develop your leadership and tax skills to enable you to become a trusted business adviser.
Accounts and Audit Semi-Senior
You will work with multiple clients to complete full Accounts Preparation, Corporate Tax Returns and Management Accounts. You will have opportunities to work with a varied client portfolio including SME, Sole Trader and Limited Companies as well as larger clients where you have the option to develop skills within audit if you would like.
Accounts and Audit Senior
You will manage a varied portfolio of clients (SME, Sole Trader and Limited Companies as well as larger clients), acting as a first point of contact. You will be responsible for their end-to-end accounts. The nature of our clients and our approach will also give you the opportunity to work within audit if you would like.
Blogs and Articles
Extending Child Benefit payments: What you need to know
Many families are considering the next steps for their school-leaving children. If your child plans to continue in approved education or training, it’s important to extend your Child Benefit claim before 31 August to avoid missing out on financial support. Child Benefit can continue if your child, aged 16 to 19, is enrolled in full-time non-advanced education or approved unpaid training.
New tool available to help create privacy notices
The Information Commissioner’s Office has launched a new tool that can help small businesses create a bespoke privacy notice that protects people’s information rights.
By law, businesses must explain why it holds people’s information and what it does with it. This allows customers, suppliers, staff and volunteers to know what will be done with their personal information.
Don’t miss out on Winter Fuel Payments: Check your eligibility for Pension Credit
As a pensioner you were likely dismayed to learn that Winter Fuel Payments are now being restricted to those who are on benefits and Pension Credit. The Winter Fuel Payment is a key benefit to help with increased heating costs during winter that was previously paid to all pensioners. However, with recent changes, the payment is now means-tested and linked to eligibility for Pension Credit.
Could government-backed financing help your business expand?
A small business from Barnsley, Slime Party UK, has successfully secured government-backed financing, enabling it to significantly expand its operations, create new jobs, and develop new product lines. This success story provides a valuable blueprint for other small businesses seeking to grow, especially those looking to enter or expand in export markets.
Former investment firm director receives 15-year bankruptcy restrictions for fraud
Andrew Paul Bird, a 60-year-old former investment firm director from Quarndon, Derbyshire, has been subjected to the maximum 15-year bankruptcy restrictions after being found guilty of defrauding investors. Mr Bird misled 13 individuals and couples into investing in a fraudulent scheme between 2011 and 2016, promising secure returns while exposing them to significant financial risks for his personal gain.
Updated interest rates and repayment thresholds for student loans announced
The latest annual update to Student Loan interest rates was made last week by the Department for Education. Different rates and thresholds apply depending on the type of student loan and the new rates will apply from 1 September 2024 to 31 August 2025.
Former Employee Fined for Data Breach: What Your Business Can Learn
A recent case involving a former employee of Enterprise Rent-A-Car highlights the importance of robust data protection measures. Jonathan Riches, 46, was fined £10,000 and ordered to pay £1,700 in costs after pleading guilty to illegally accessing motorists’ personal details.
FSB Insurance Service provides advice for riot affected businesses
The recent riots have left many small businesses dealing with damage and disruption. The Federation of Small Businesses (FSB) Insurance Service has created some guidance to help businesses that have been affected. The guide includes practical steps that businesses can take when experiencing or expecting problems.
Rural Businesses Set for Major Broadband Boost
Rural business owners across Britain are on the cusp of a significant digital transformation, thanks to a landmark deal between the UK Government and Openreach that’s part of an initiative aimed at modernising outdated broadband infrastructure. With up to £800 million in investment, this ambitious project is aiming to deliver lightning-fast gigabit-capable broadband.
Pitfalls to avoid in making a strategic plan
For businesses, having a strategic plan in place is vital for the long-term success and sustainability of the business. It serves as a roadmap for your business that gives you a clear direction, sets out the priorities, and helps you to make sure that you are using your resources effectively to reach your goals.
Chancellor refuses to rule out increase to capital gains tax
Chancellor Rachel Reeves visited the US and Canada last week, and during an interview with Bloomberg was asked whether she was considering increasing capital gains tax. She replied: “We’ve got a budget on October 30 and we will set out our policy then, but it’s always important when you’re deciding tax policy to strike the right balance…”
Government investing £32 million in AI projects to boost productivity and improve public services
The UK government has announced £32 million in funding for 98 innovative AI projects, aimed at improving efficiency in various sectors. These include delivery of prescriptions, railway maintenance and training construction workforces. The funding will support over 200 businesses and research organisations across the UK.
HMRC interest rates to be reduced
The Bank of England’s decision to reduce the base rate to 5% means that HM Revenue & Customs (HMRC) will also reduce their interest rates. The interest rates charged by HM Revenue and Customs on late tax payments, as well as the rates they pay on repayments are linked to the Bank of England’s base rate.
First instalments of delinked payments paid out to farmers
Last week, the Rural Payments Agency (RPA) announced that 98% of eligible farmers have now received their first instalment of the new delinked payments. The second instalment is due to be paid from 30 September. This is earlier than originally planned.
2024 Sustainable Farming Incentive agreements now live
The first of the 2024 Sustainable Farming Incentive agreements for 2024 are now live. A tool is available that can help you find out about grants and funding that you may be eligible for.
Do you want to supercharge your growth?
Small Business Britain has opened up registrations for its September instalment of the Small and Mighty Enterprise Programme. This is a six-week CPD accredited programme that’s designed for small businesses and will give sole traders and micro businesses expert guidance and mentoring to help them grow.
The Strikes Act to be repealed
The government has announced its intention to repeal the Strikes (Minimum Service Levels) Act 2023. The Act was intended to ensure minimum service levels were maintained during strikes, particularly in critical sectors that are essential for the safety, health, and welfare of the public.
Energy to be harnessed from wastewater
Wastewater Fuels, located in Warwickshire, have come up with a new innovation that harnesses energy from wastewater. Stainless steel mesh rods are used in wastewater to break down organic material into hydrogen ions that are then converted into hydrogen gas and stored in the rods.
Budget 2024
On 6 March 2024, Chancellor Jeremy Hunt presented his Spring Budget to Parliament. In the knowledge that the government must hold a general election before 28 January 2025, this was a Budget designed to restore confidence and win voters. But on the heels of Britain entering a recession and downgraded Office for Budget Responsibility (OBR) forecasts, the Chancellor had his work cut out.
