Newsletter...
August 2024 - ENEWS
In this month’s Enews, we look at the difficult decisions taken by the Chancellor as she set the date for the Autumn Budget. We also update you on the latest on the National Wealth Fund and the Growth Guarantee Scheme. With news on a new online VAT tool and Simple Assessment for pensioners, there is a lot to update you on.
- Chancellor takes difficult decisions as Budget date set
Chancellor of the Exchequer Rachel Reeves said she was taking difficult decisions after a Treasury spending audit revealed £22 billion of unfunded pledges. Ms Reeves confirmed that the Autumn Budget will take place on 30 October. In a statement to Parliament, the Chancellor made a number of announcements but said there would be more to come on tax and spending......read more - King's Speech pledges to secure economic growth
The first King’s Speech since Labour’s victory in the General Election saw the new government pledge that securing economic growth would be its fundamental mission. King Charles III delivered the 2024 King's Speech at the State Opening of Parliament and announced plans to accelerate housebuilding and high-quality infrastructure through planning reform.....read more - HMRC launches VAT Registration Estimator
HMRC has launched a digital tool to help businesses estimate what registering for VAT may mean for them. The VAT Registration Estimator helps to show businesses when their turnover could require them to register for VAT and its effect on profits. A business must register for VAT if.....read more - UK announces National Wealth Fund
The UK government is planning a National Wealth Fund to stimulate private sector investment backed by £7.3 billion in funding through the UK Infrastructure Bank (UKIB). Chancellor Rachel Reeves and Business Secretary Jonathan Reynolds have instructed officials to immediately begin work to create the new National Wealth Fund by bringing......read more - British Business Bank launches Growth Guarantee Scheme
The British Business Bank has launched the Growth Guarantee Scheme to help smaller businesses access finance. The Growth Guarantee Scheme is the successor to the Recovery Loan Scheme and is expected to support around 11,000 smaller businesses. The British Business Bank has so far accredited 41 lenders for the scheme which will run until March 2026......read more - HMRC to send Simple Assessment tax statements to pensioners
HMRC will send Simple Assessment tax statements to pensioners in the next few weeks. The combination of frozen tax thresholds and a substantial increase to the state pension has led to many more pensioners being dragged into paying income tax for the first time. The last government froze the personal allowance at £12,570 until 2028......read more - UK's economic recovery putting down roots
The UK's economic recovery is finally putting ‘down roots’ after GDP grew faster than expected in May, says the Confederation of British Industry (CBI). The UK economy expanded by 0.4% in May, rebounding from zero growth in April, according to the Office for National Statistics (ONS).......read more - Latest guidance for employers
HMRC has published the latest issue of the Employer Bulletin. The July issue has information on various topics, including: PAYE Settlement Agreement calculations 2023 to 2024......read more
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