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Business News Roundup – 8th July 2024

Business News England

Brought to you by DPC Accountants

Welcome to the DPC round up of the latest business news for our clients for 8th July 2024.

Please contact us if you want to talk with out team of experienced Stoke-on-Trent accountants about how these updates affect your business. We are here to support you!

 

THIS WEEK…

Election results in: What will be the effect on your tax bill?

Will there be an emergency budget?

The election results are in and the Labour party won the country’s mandate to form a new parliament. What could that mean for the tax you pay?

Labour will likely set out their initial plans in an ‘emergency’ budget. This is unlikely to happen before September or October as the Office of Budget Responsibility (OBR) will need 10 weeks to prepare independent forecasts on the plans. Further details will no doubt emerge over coming weeks, but here’s a review of what looks likely in the main tax areas based on their manifesto.

[READ FULL ARTICLE]

Economy growth higher than estimated

Things looking up!

Figures released by the Office for National Statistics (ONS) show that the economy grew by 0.7% between January and March. This is higher than their initial estimate of 0.6%, and means that the country’s emergence from recession was stronger than expected.

These figures mean that the UK experienced the fastest growth of the G7 economies in this first quarter of 2024. It is also the highest growth in a quarter since 2021 and bodes well for the economy as a whole over coming months.

[READ FULL ARTICLE]

Managing workforce holiday: A guide for business owners

Thoughts for the holiday season

This summer has brought with it several major sporting events – The Euros, Wimbledon and the Tour de France are currently all in progress, and the Olympics begin later in July. While this can be good news for businesses working in hospitality and retail, there can also be a dip in productivity as employees take time off or become distracted during major matches or events.

[READ FULL ARTICLE]

New business? Have you thought about your health and safety policy?

Steps to workplace safety

Running a business comes with a myriad of responsibilities, and ensuring the safety of your employees should be at the top of your list.

By following these steps, you’ll not only comply with UK law but also foster a safer, more productive work environment. Remember, a little effort in creating and maintaining a health and safety policy can go a long way in protecting your employees and your business.

Here’s why having a health and safety policy is crucial, backed by UK legal requirements:

[READ FULL ARTICLE]

Important update for veterinary surgeons: Transition to new Special Import Certificate (SIC) digital service

The new digital service 

Starting 15 July 2024, all Special Import Certificate (SIC) applications must be submitted through a newly launched digital service.

This change follows the introduction of the new special imports digital service in January 2024, designed to enhance ease of use, security, reliability, and accessibility.

[READ FULL ARTICLE]

Funding competition for cluster management project in Mid and North Wales

Agri-tech and food technology opportunity

A funding competition is open to all UK businesses to apply for up to £150,000 for a project to develop and manage the agri-tech and food technology innovation cluster in Mid and North Wales.

The competition is open to both single applicants or collaborations.

[READ FULL ARTICLE]

Cities and town centres declining: Challenges and opportunities for businesses

High street challenges

Glasgow, one of the premier shopping destinations in Scotland, is facing significant challenges that threaten its vibrancy and economic vitality. These same challenges are affecting businesses across not only Scotland but the UK generally.

A recent report by the Glasgow Chamber of Commerce highlights a decline of over 400,000 visitors to Glasgow city centre compared to the previous year, coupled with a substantial drop in retail sales.

[READ FULL ARTICLE]

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