May 2022

Welcome to Our Latest Newsletter

For many, the road ahead is challenging. The International Monetary Fund (IMF) has predicted that the UK will 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?

Building business resilience requires several key attributes.

• Collaboration amongst departments, your suppliers and even fellow businesses.
• Sharing resources and removing inefficiencies with duplicate information and processes.
• Team formation so all employees know what impact they have on the business and can adapt to changes.
• Suppleness and adaptability to make changes.
• Having a business culture that allows for some failures or mistakes with new ways of doing things and learning from them and adjusting swiftly.
• Spending time working on change management as well as working “in the business”.

Where do you start? Our top performing clients regularly discuss building resilience with all employees and collect their ideas and thoughts so, together, the whole team can work for change.

Information is power and we hope the below round up of the latest tax and business news will help. Before that we would like to share some good news with you.

Business/Tax News and Tips

Making Tax Digital (MTD) is now mandatory for VAT-registered businesses

The importance of a shareholders agreement

Tax relief for employee travel where there is “hybrid” working

Giving shares to employees

End of tax year payroll procedures

National Living Wage and National Minimum Wage rates for 2022

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

Missing out on help with childcare costs?

Government sets out plan to make the UK a global cryptoasset technology hub - Also HMRC and crypto

Digital Growth Grant

Government investment for energy technologies of the future

Guidance for businesses wanting to offer help to Ukraine

What is Property Finance?

Changes to accounting for VAT on imports

HMRC reminds businesses to get ready to move to customs IT platform over the summer

UK Seafood Fund: Infrastructure Scheme

Exit scheme opens to support farmers who wish to leave the industry and create opportunities for new entrants

Top tips to help your business move towards net zero carbon

Commercial rent code of practice