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Weekly Business News
January 20th 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
January 2025 Tax News
In the January edition of DPC Tax News -Scottish and Welsh Budgets; getting ready for making tax digital for income tax; the corporate tax roadmap; payrolling benefits in kind and an HMRC scam warning.
To view previous tax newsletters, click here
DPC Tax Bites
Our DPC tax specialists speak out on topical issues relating to how tax and legislation effect you.
We are Hiring
Tax Manager
You will be reporting directly to the Tax Director predominantly, you will play a critical role in the review and completion of tax returns for a varied client portfolio. You will also identify opportunities to contribute towards the development of a larger advisory function.
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.
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.
Practice News
Blogs and Articles
Farming and food sector receives new support measures
Measures to support farmers and help the UK’s farming and food sector grow were announced last week by the government. The support package is designed to support domestic food production and boost innovation so that the sector can reach its full potential.
Recycling collections being revamped to make them simpler
Recycling can be confusing, leaving people and businesses wondering what items can be recycled on bin day. So, a new common-sense approach has been announced to make bin day easier and more standard across the country. Councils will now be allowed to collect plastic, metal, glass, paper, and card in one bin in all circumstances.
How can you save on capital gains tax?
Over the last two years, the tax-free allowance for capital gains tax has been cut by over three-quarters. For the tax year that recently began on 6 April 2024, the Annual Exempt Amount has been reduced to £3,000 (£1,500 for trustees). These reductions mean that more and more of us are likely to be affected by capital gains tax.
Official figures show that the UK no longer in recession
Figures published by the Office for National Statistics on 10 May 2024 show that the UK has officially exited recession. UK gross domestic product (GDP) is estimated to have increased by 0.6% in Quarter 1 (Jan to Mar) 2024, following declines of 0.3% in Quarter 4 (Oct to Dec) and 0.1% in Quarter 3 (July to Sept) 2023.
British AI company secures $1 billion funding for self-driving vehicles
The artificial intelligence (AI) company, Wayve, has secured a $1.05 billion investment to develop the next generation of AI-powered self-driving vehicles. The British company will be using this investment to develop and launch the first “embodied AI” technology for self-driving vehicles in the UK.
Introducing WorkWell: A £64 million initiative to support workplace health and well-being
The UK government has announced a new initiative aimed at helping people with health conditions stay in or return to work. The WorkWell pilot scheme, launched by the Department for Work and Pensions (DWP) and the Department for Health and Social Care (DHSC), will provide tailored support to individuals across 15 areas of England, connecting them with local services that can help them with their health and employment needs.
The National Academy for Mathematical Sciences Competition: An opportunity for you?
Are you ready to be at the forefront of shaping the future of mathematical sciences in the UK? An exciting opportunity has arisen with a government-launched competition to establish a new National Academy for Mathematical Sciences. This initiative aims to champion the immense value of maths, create future jobs, and turbocharge the UK economy.
Bounce Back Loan Scheme fraud investigations continue
Rian O’Keeffe is the latest fraudster brought to justice as part of the ongoing investigations into abuse of the Bounce Back Loan scheme. O’Keeffe applied for and received a £50,000 Bounce Back Loan in July 2020 based on a claim that it would be used within his business called Trainersource. He claimed that his business had been trading since March 2020 and had a turnover of £312,000.
Shott Scale Up Accelerator: Leadership programme opportunities available
Making the leap from a technical expert to a business leader can be challenging. The Shott Scale Up Accelerator is a 12-month programme that aims to help senior decision-makers in high-growth engineering and tech SMEs develop the skills needed to scale their business to the next level.
New requirements for single sex toilet facilities
New requirements for single sex toilet facilities in new non-domestic buildings are being brought forward. Mixed sex toilet spaces where cubicles and hand-washing facilities are shared have been on the rise, but concerns have been raised about the privacy and dignity they deny to both men and women.
5 essential steps to successfully establish and grow your new business
If you are embarking on the exciting journey of starting your own business, then we wish you many congratulations! As you navigate the path to entrepreneurship, it’s crucial to lay a solid foundation that sets your venture up for success and sustainable growth. Here are five important steps to consider as you establish and grow your new business…
New digital service to check your State Pension forecast launched
A new digital service has been launched that makes it easier to check if you have any gaps in your National Insurance (NI) record that may affect your State Pension entitlement. The service is called Check Your State Pension forecast and can be accessed via GOV.UK or the HMRC app. You will need to register for or login to your Personal Tax Account to find the service.
How to defend your business from email compromise
Email phishing attacks that target senior leaders and finance personnel in the business are on the increase. The National Cyber Security Centre (NCSC) has published guidance aimed at helping small to medium sized businesses to deal with Business Email Compromise (BEC).
Views sought from female entrepreneurs
Small Business Britain, Square and Clearpay have commissioned a joint survey to understand the opportunities and challenges for female entrepreneurs in the UK. The survey wants to find out about the experience female entrepreneurs have in running their own business and the ups and downs that go along with it. Insights from the survey will be published in June 2024.
Is your use of AI compliant with health and safety?
The Health and Safety Executive (HSE) has published an article outlining its approach to regulating artificial intelligence (AI) in workplaces. The article has some implications that businesses should consider, including regulatory compliance and risk assessment.
How might the changes to company size thresholds affect your business?
From October 2024, company size thresholds are to increase by 50%. For each company, these new thresholds will begin to apply from the start of the next accounting period commencing on or after 1 October 2024. But what are the implications of these changes to your company?
Lessons to be learned from a data breach
The Information Commissioners Office (ICO) recently reported on a reprimand they issued to a housing association after personal information became accessible in an online customer portal. Clyde Valley Housing Association in Lanarkshire launched a new portal in 2022. On the first day of its release a resident discovered they could access personal information about other residents. As a result, they called a customer service adviser to report the breach.
Avoiding Business Pitfalls: 7 things you should NOT do as a business owner
Recent surveys of UK business owners show us to be under pressure. This is no surprise. As a business owner, you’re constantly juggling multiple responsibilities and facing a myriad of challenges. While there are countless strategies for success, it’s equally important to be aware of potential pitfalls that could derail your efforts. In this article, we’ll explore seven common mistakes that business owners should avoid at all costs.
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.
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