Welcome to our round-up of the latest business and tax news for our clients. Please contact us if you want to talk about how these updates affect you. We are here to support you!
Have a great weekend.Kind regards,
Steve
Steven Hillman BSc (Hons) FCA
Chartered Accountant
Tel: 01934 444100
https://www.hillmans.co.uk
Is your business attracting new talent?
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 have to get serious about the process and be on it 24/7, 365!
There are a number of actions you can take to make your business attractive to new staff. In addition to reviewing your pay and conditions to be as competitive as possible, these include:
- Tasking recruitment as a permanent process;
- Regularly asking existing staff, customers, and suppliers for introductions;
- Offering incentives for referrals;
- Make sure you are running constant online social media and local advertisements;
- Embracing flexibility in hours and location in your business;
- Introducing a “Golden Hello” and loyalty bonusses for length of service (typically one to three years);
- Advertising testimonials from existing staff;
- Using government initiatives for apprentices (if available in your area);
- Make your company and the job sound as attractive as possible by outlining the position to sound prestigious and challenging. These two factors are big incentives for bright potential candidates;
- Knowing that job satisfaction comes from feeling respected and having the opportunity to learn new things and excel in the face of obstacles when advertising the role; and
- Convey your business’s personality so potential employees get a feel for what it would be like to work for you;
Post-Brexit import checks delayed for fifth time
The UK government has announced a fifth delay to post-Brexit checks on EU imports amid concerns the new system would fuel food inflation. The first stage of the new border controls, which have already been delayed four times, was due to be rolled out this October but now won't be implemented until January 2024. The UK government says this the timetable is being revised to give businesses more time to prepare for the changes, which include more health and safety checks on food and animal products entering the country.
In April 2023, the UK government published a draft ‘Border Target Operating Model’, applicable to imports from all countries into Great Britain, including the EU. In it, they outlined how their proposals sought to balance the need for effective border controls with the need to support businesses with import processes that are as simple as possible.
After feedback from stakeholders and attendees at workshops and seminars, businesses and the border industry highlighted where further detail was needed to prepare for the model and set out a range of challenges that implementation of the new model would present. These were focussed both on new complexity and costs that would be introduced into the supply chain, as well as the timing of the introduction of new controls. In particular, businesses highlighted that their supply-chains would need time to adapt to new controls. This was particularly important in relation to the requirement for health certification which will require action from EU suppliers.
In response to this feedback, the UK government has decided to push back some of the implementation milestones for the Border Target Operating Model in order to give businesses more time to prepare. They say they will implement the Border Target Operating Model from January 2024 onwards, beginning with the introduction of health certification on relevant EU goods. This will bring the launch of the Border Target Operating Model closer to the upcoming simplification of border requirements through the new UK Single Trade Window. They say they have also sought to respond to stakeholder feedback to improve the wider model and provide further detail on its implementation.
See: The Border Target Operating Model: August 2023 - GOV.UK (www.gov.uk)
One-stop-shop to help businesses save money and go green
British businesses will be able to access advice and support to reduce their energy bills while cutting their carbon emissions.
The UK Business Climate Hub, launched in August, includes a free carbon calculator and a suite of new tools to help businesses measure, track, and report on their emissions and save money by using less energy. It offers detailed advice on everything from sourcing products from green suppliers and reducing emissions from freight and logistics to the most cost-effective ways of installing solar panels and electric vehicle (EV) charging points.
Research shows that such measures can save companies on their overheads. For example:
- switching to EVs can not only cut running costs but also lower servicing and maintenance costs by around 40% compared to petrol or diesel cars;
- with up to half of companies’ overall electricity bill coming from lighting, making changes such as switching to LED bulbs can help shave up to 40% off bills; and
- giving drivers fuel efficiency training can help save companies an average of 15% on fuel use and carbon emissions in transporting goods.
Studies also show 85% of consumers are more likely to buy from a business with a reputation for sustainability, meaning going green can help grow the economy.
See: One-stop-shop to help businesses save money and go green - GOV.UK (www.gov.uk)
Dementia-friendly businesses
Dementia is one of the greatest challenges we face in society today. All businesses can contribute to tackling the social and economic impact of dementia.
Statistics show that less than half (47%) of people living with dementia feel a part of their community (Alzheimer’s Society, 2013), and 28% said they have
given up even getting out of the house.
Businesses and organisations can make a big difference for people with dementia and their carers by making a commitment to become more dementia-friendly. Becoming a dementia-friendly business is not only a socially responsible step but can also bring economic benefits.
Find out how your business can become more dementia-friendly and get our free guide. From retail to housing, utilities to entertainment, finance to transport, all sectors have a part to play.
See: Dementia-friendly businesses | Alzheimer's Society (alzheimers.org.uk)
EU Settlement Scheme: information for employers - Update
The EU Settlement Scheme (EUSS) was established to enable EU, EEA and Swiss citizens resident in the UK by 31 December 2020, and their family members, to get the immigration status they need to continue to live, work, study, and access benefits and services, such as healthcare, in the UK after 30 June 2021. For those citizens resident in the UK by 31 December 2020, the deadline for applications was 30 June 2021.
The UK government have recently updated their EU Settlement Scheme guidance and in conducting right to work checks when recruiting EU, EEA and Swiss citizens from 1 July 2021 onwards. Support is available for employers on the website below.
See: EU Settlement Scheme: information for employers - GOV.UK (www.gov.uk)
The Information Commissioner’s Office (ICO)
The ICO upholds information rights in the public interest, promoting openness by public bodies and data privacy for individuals. ICO is an executive non-departmental public body, sponsored by the Department for Science, Innovation and Technology.
If you are looking for some answers to data protection issues, then the ICO website is worth a visit. They give advice on all areas of data protection, including:
- UK General data protection regulation;
- Direct marketing;
- Data protection and the EU;
- Network and information systems;
- Freedom of information and access to information requests;
- Law enforcement;
- Electronic identification and trust services; and
- Intelligence services.
Innovation in Professional and Financial Services competition
Innovate UK, part of UK Research and Innovation, is investing up to £5 million to support digital innovation within Professional and Financial Services.
This competition aims to advance the Professional and Financial Services sectors by supporting them in the creation and adoption of digital approaches and new digitally supported services.
To be eligible, projects must:
- have a total grant funding request between £50,000 and £200,000;
- start by 1 April 2024;
- last between 6 and 18 months;
- carry out all of the project work in the UK; and
- intend to exploit the results from or in the UK.
- to deliver better products and services;
- increase access to these services; and
- make these services more effective for their customers.
See: Innovation in Professional and Financial Services – single applicants
See: Innovation in Professional and Financial Services – collaboration
Environmental taxes, reliefs and schemes for businesses
The government states that environmental taxes “encourage your business to operate in a more environmentally friendly way”. There are taxes and schemes for different types and size of business.
You may get reliefs or be exempt from some taxes, for example if:
- you use a lot of energy because of the nature of your business;
- you’re a small business that does not use much energy; or
- you buy energy-efficient technology for your business.
See: Environmental taxes, reliefs and schemes for businesses: Overview - GOV.UK (www.gov.uk)
Location data can help build the EV chargepoint network of tomorrow
A new report seeks to support local authority decisions about electric vehicle (EV) chargepoint rollout. The transition to EVs will be enabled by a dependable public charging network and local authorities are ideally placed to identify their local charging needs.
By 2030, the sale of new petrol and diesel cars will be phased out and by 2035 all new cars and vans will be zero emission. The transition to EVs will be enabled by a dependable, well located public charging network that local authorities are ideally placed to help deliver.
Location data can arm local authorities with evidence to rollout a public charging network that gives current and prospective EV owners the confidence to make their journeys, whether in a densely populated city or the countryside. Drivers need to have the same confidence that they can charge their EV as they have that they can refuel their current petrol or diesel vehicle, so they can go about their business unimpeded.
See: Charging Ahead: Using location data to boost local EV chargepoint rollout - GOV.UK (www.gov.uk)
Deadline for Countryside Stewardship applications extended
The application window for 2024 Countryside Stewardship Mid-Tier agreements has been extended until Friday 15th September to allow more time for people to submit their applications online, following direct feedback from farmers.
Countryside Stewardship plays a significant role in the Government’s efforts to make food production more resilient whilst contributing towards the UK’s environmental goals, such as biodiversity and water quality. By extending the application window, farmers can apply and be paid for environmental work alongside sustainable food production, from restoring wildlife habitats and managing woodlands, to mitigating flood risks.
The scheme is popular in the sector and has continually evolved following farmer feedback, with 32,000 agreements already successfully in place across England for 2023. This represents a 94% increase in uptake since 2020 – including nearly 26,000 Mid-Tier agreements – and additional investment has been put into online systems to increase capacity. This has supported a further high level of interest this year.
There have been some technical issues which have been experienced by a small number of some applicants when submitting their applications. These have now been resolved. The Rural Payment Agency has been working closely with affected applicants and agents to support applications, with actions taken to resolve issues as quickly as possible and systems put in place to assist farmers through the process.
Further improvements to the online system are already in train, including greater flexibility over when farmers can apply and how they manage their agreements.
See: Deadline for Countryside Stewardship applications extended - GOV.UK (www.gov.uk)
Application dates for Sustainable Farming Incentive 2023
Farmers can sign up for the Sustainable Farming Incentive (SFI) from 18 September and are invited to register their interest now, the Rural Payments Agency, Defra has announced.
The dates provide certainty and pre-registration will ensure farmers are supported to have all necessary information in place, including online maps and land use/cover details, so they are ready for when the scheme starts to accept applications from 18 September.
The SFI pays farmers for taking actions that support food production, farm productivity and resilience, whilst protecting and enhancing environment.
There are 23 actions on offer under the new and improved 2023 scheme, including on soil health, moorland, hedgerows, integrated pest management, farmland wildlife, buffer strips, and low input grassland.
See: Government announces application dates for Sustainable Farming Incentive 2023 - GOV.UK (www.gov.uk)
New steps will speed up Sizewell C preparations
Steps to further speed up preparations to make the site at Sizewell C in Suffolk shovel-ready were announced last week, as part of a drive to create a new generation of nuclear power stations in the UK.
Ministers today made available a further £341 million of previously allocated funding for development work on the project. The extra money will help prepare the site for construction, procuring key components from the project’s supply chain, and expanding its workforce.
It would see activity ramp up at the Suffolk site, supporting continued preparation works, such as constructing onsite training facilities for 1500 apprenticeships, further development of the plant’s engineering design, and direct investments in the local community ahead of work starting. The funding would build on the government’s existing £870 million stake and help drive progress towards the long-standing objective of reaching a Final Investment
Decision on a new large-scale nuclear project this Parliament.
Sizewell C could provide reliable, low-carbon power to the equivalent of 6 million homes over 60 years – saving the UK as many as 9 million tonnes of CO2 emissions each year. At the peak of construction work, it could support 10,000 jobs nationwide, with 70% of the value of construction contracts in the supply chain going to UK businesses.
See: New steps will speed up Sizewell C preparations - GOV.UK (www.gov.uk)
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