Watch this video to find out more about registering for VAT, including whether you need to register, Vat registration thresholds and how to register..
Watch this video to find out how penalties have changed for late VAT payments and submissions, and the new repayment interest for those customers claiming a repayment..
Landlords will have fines hiked from £80 per lodger and £1,000 per occupier for a first breach to up to £5,000 per lodger and £10,000 per occupier. Landlords found to be hosting a lodger without lawful immigration status for the first time could be forced to pay £5,000 - a huge increase from the existing maximum fine of £80.
British Airways workers secure major pay increase. British Airways agrees pay deal with Unite for 24000 staff, reverses ‘fire and rehire' pay cuts.
Kim Kinnaird, Director, Halifax Mortgages, said, "Average UK house prices edged down slightly in July, with the monthly fall of -0.3% equivalent to a drop of around £1,000 in cash terms. While this was the fourth consecutive monthly decrease, all have been smaller than -0.5%.
If you want to read an economics blog that is more than often correct then try Notayesmanseconomics's Blog. Today 7 August 2023 some reflections about house prices may give you some pause.
Fines are to be more than tripled for employers and landlords who allow illegal migrants to work for them or rent their properties, in the biggest shake up of civil penalties since 2014, the Home Secretary announced today (Monday 7 August 2023). The civil penalty for employers, which was last increased in 2014, will be raised to up to £45,000 per illegal worker for a first breach from £15,000, and up to £60,000 for repeat breaches from £20,000.
Partnership with social media companies to clamp down on people smugglers' operations online. Illegal crossings remain down on last year and returns are at their highest level since 2019.
Nearly half of parents (47%) reported that their child's social and emotional skills had worsened during the first year of the COVID-19 pandemic. By contrast, just one in six children saw their social and emotional development improve over this period.
Amid headlines of wildfires raging across Europe and Africa and flooding in China, the UK government took the bewildering choice to expand fossil fuel extraction. Prime minister Rishi Sunak declared that more than 100 new oil and gas drilling licences would be granted for the North Sea in 2023, sparking widespread criticism and incredulity from climate experts, business leaders and some within his own party.
Bereaved parents who lost their partner between 9 April 2001 and 8 February 2023 may be eligible for backdated government payments. In February the Government extended eligibility for Bereavement Support Payment and Widowed Parent's Allowance to cohabiting parents with dependent children - benefits designed to help with the financial impact of losing a partner.
The Bank of England continued the largest cycle of rate rises in more than 30 years with an unprecedented fourteenth increase in a row, but the main news in today's announcement was gloomy forecasts that point to a weaker GDP outlook and a sharp rise in unemployment as the price we all must pay for bringing inflation back to target. The Resolution Foundation (Thursday 3 August 2023) response to the Bank's latest Monetary Policy Report (MPR).
We know this is a dry topic but possibly one of the most important for the future of financial life in Scotland. The Institute for Fiscal Studies casts an eye over the latest agreement.
Organisations at the frontline of helping people facing poverty and hardship can now apply for a share of government funding to help tackle food insecurity. The £1.6 million Cash-First Fund is aimed at public sector and third sector partnerships to deliver cash grants for food and other essentials, helping to reduce the need for food parcels.
DINGWALL., Dingwall and Highlands Marts Ltd., (August 4th) sold 7,628 Store lambs of all class at an average of £75.39 (- £3.23 on the year). Texel (2,532) averaged £75.04 (last year £82.34) and sold to £115 gross from Craiglands, Fortrose.
The deployment demonstrates the UK's commitment to the Indo-Pacific and working with partners in the region. More than 150 UK personnel have joined troops from 13 other nations for Exercise Talisman Sabre, which took place across Australia and in adjacent waters, to advance a free and open Indo-Pacific.
Today's plan follows a review of the cash savings market and a roundtable held with banks in early July. The FCA found that while interest rates on savings accounts have been rising, this has been happening more slowly for easy access accounts.
Energy Security Secretary Grant Shapps welcomes report from Nick Winser, the UK's Electricity Networks Commissioner, and will consider the recommendations before presenting an action plan. Electricity Networks Commissioner Nick Winser review will help UK take full advantage of its renewable energy success.
Richard Murphy - Funding the Future, challenges the Bank of England decision on interest rate rises and what it may mean going forward. If there is one thing that I should be grateful to the Bank of England Monetary Policy Committee for it is that their incompetence provides me with seemingly endless material for this blog.
Economist Tejvan Pettinger looks at the problems if there is a big fall in housing values. High interest rates and falling house prices will fundamentally alter both the housing market, and also the economy.
