Client Newsletter April.

BUSINESS NEWS

Welcome to our round up of the latest 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!

Facing Crisis Upon Crisis – a perfect storm?

The International Monetary Fund (IMF) has stated the war in Ukraine will severely
set back the world economy and the UK is predicted to have the slowest growth in
the G7 and across Europe’s main economies at 1.2% for 2023.

If you are in business and you know growth is slowing, inflation is rising and there are supply chain issues then what actions can you take to shore up resilience and stay ahead of the curve?

https://clientresources.co.uk/wp-content/uploads/2022/04/Business-Newsletter-England-25-April-2022-250422.pdf

Job vacancies rise to new level

Recruiting new employees is tough just now so be different!

For example, some employers are now offering “wellbeing leave” in addition to the usual holiday
package. If you want to recruit more you must get serious about the process and be
on it 24/7, 365!

Useful guidance on the procedures for recruitment can be seen in the ACAS guide
“Recruiting staff” which can be seen here: Recruiting staff (acas.org.uk)

Digital Growth Grant

The Department for Digital, Culture, Media and Sport (DCMS) will run a Digital
Growth Grant competition over Summer 2022. Bids will be invited to address
identified market failures and accelerate the growth of tech start-up and scale-up
ecosystems across the regions and nations of the UK. The successful bidder will be
awarded up to £12.09 million to be spent over two financial years; 2023/24 and 2024/25

Express your interest to contribute your views and to stay up to date on when the
Digital Growth Grant goes live

https://www.gov.uk/guidance/digital-growth-grant

HMRC warn workers not to use schemes that claim to increase take home pay

HMRC have recently published details of the promoters of two tax avoidance
schemes that purport to allow workers to maximise their take home pay. HMRC
wants employers and employees to understand that these schemes (involving
individuals agreeing an employment contract and working as a contractor) do not
work and is warning potential users to steer clear of the schemes or exit them.Use of the published schemes could leave users with big tax bills.

This is part of a general crackdown by HMRC on the use of “umbrella” companies
and managed service companies to sidestep the IR35 (personal service company)
and ‘off-payroll working’ rules.

For further details see: HMRC names avoidance scheme promoters for first time –
GOV.UK (www.gov.uk

For a more detailed look at any of these topics including:

Guidance for businesses wanting to offer help to Ukraine

Self-driving vehicles to be included in the Highway Code

End of tax year payroll procedures

Strengthening consumer protection and enforcement

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