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Autumn Budget 2024: How It Affects Individuals
We share our key takeaways on how the Autumn Budget 2024 affects individuals. During the first Budget to be delivered by a woman, and the first Labour Budget for 14 years, Rachel Reeves set out various measures to “fix the foundations and deliver change”. Along with Income Tax rates, Labour included a manifesto pledge not…
Statutory Sick Pay: Proposed Changes
The government’s Employment Rights Bill received it’s first reading in the House of Commons on October 10th. Part of the bill proposes sweeping reforms to the current rules regarding Statutory Sick Pay (SSP). Under current rules, the first three days of SSP are known as the Period in Waiting (PIW) or waiting days. SSP…
Industrial Strategy: Where are we Heading?
With minimal fanfare, the Government has published a green paper for its much hyped industrial strategy. So what opportunities and threats does this present: Invest 2035: the UK’s modern industrial strategy This 10 year plan is aimed at stimulating growth and economic security, creating quality well paid jobs, and transitioning the UK to Net…
UK Company Size Threshold Changes: Government To Proceed
The new Labour government has confirmed that it will proceed with significant changes to UK company size thresholds, a proposal made by the previous Conservative government that aimed to reduce the regulatory burden on businesses. This decision, announced by Jonathan Reynolds MP, Secretary of State for Business and Trade, will see the monetary size…
Changes To Workers’ Rights
The government promised that within 100 days of coming into office they would publish their plans for an overhaul of workers’ rights. Although this promise has been kept with the announcement of the Employment Rights Bill, there was no accompanying time frame for when these changes will become law. The government deciding to opt for…
Second Budget And Deadlines Coming Soon
The second Budget of the year is due to take place on 30 October 2024. We knew one would be happening, and expected that there would be many changes announced. More will no doubt come in the next few weeks. Ahead of this, there is confirmation of the new rules relating to Furnished Holiday…
Scaling With Xero: Discovering The Potential
Stephen Malkin (Partner, Kings Lynn) and I, Ben Burtenshaw (Manager, St Ives), learnt about scaling with Xero and the options available to rapidly growing SMEs during our recent visit Xero’s offices in Milton Keynes. App partners Mayday and Joiin were both in attendance and gave talks and demos on their software as well as…
Amazon Announces Changes In VAT Treatment Of Fees
Amazon has recently announced changes in the VAT treatment of fees that will significantly impact UK sellers. What Used To Happen? Previously, UK VAT-registered sellers only paid VAT on UK advertising fees which were billed from London. All other fees were billed from Luxembourg and generally fell under the Reverse Charge Mechanism. What…
Paternity Leave (Bereavement) Act
The Paternity Leave (Bereavement) Act became law earlier this year, in May 2024. However, due to the dissolution of Parliament, no date has been set for its implementation. The Bill grants the right for automatic Paternity Leave in cases where the mother (or in cases of adoption, the registered main carer) passes away. This…
Minimum Wage: Further Increases Expected
On 30th July the Low Pay Commission (LPC) set out it’s policy on future minimum wage rates. It is expected that the new Labour Government will maintain the same policy as the last Conservative administration and maintain annual National Living Wage (NLW) increases in line with average earnings. It is projected that the…