I hope you are keeping safe and well.
Wishing you a Merry Christmas and a Happy Prosperous New Year.
This will be my last newsletter before Christmas and the New Year break so I wish you a happy Christmas and a prosperous New Year.
Let us have hope that in 2022 we return to a more normal way of life free of the restrictions that we have faced over the last two years.
Our Christmas Opening Hours
Our office will be closed for the Christmas and New Year period from 5pm on Wednesday 22nd December, re-opening at 9am on Tuesday 4th January.
I wish you and those close to you the happiest and safest of Christmases.
Stay safe and well.
Kind regards,
Steve
Steven Hillman BSc (Hons) ACA
Chartered Accountant
Tel: 01934 444100
2021 – A year of resilience and recovery?
Let us have hope that in 2022 we return to a more normal way of life free of the restrictions that we have faced over the last two years.
The pandemic happened and now is not the time to reflect how it happened or judge how it was managed, indeed further restrictions have recently been introduced and all we can do is take precautions individually to prevent the Omicron virus spreading and continue to take responsibility in the community to socially distance and help prevent the spread.
This year, despite the lockdowns and restrictions, we have been amazed at the resilience of clients and how they have energetically repurposed or pivoted their businesses into new areas, products and services. Businesses have redesigned delivery and payment systems, moved their entire processes digital, accepted remote working or new safe working environments and adopted to new technologies to survive and indeed prosper in the Covid-19 era.
Clients have demonstrated to us how we can all readily adapt to a change in circumstances and have given us inspiration and optimism for the future.
We believe that by this time next year we will be back to where we want to be and more of our daily lives will resemble some kind of normality again.
Do not give in to the virus, stay strong, be resilient and together we will move forward!
Consumer prices rose by 4.6% in the 12 months to November 2021, according to the lead measure of the Consumer Prices Index including owner occupiers’ housing costs (CPIH). This is up from 3.8% in the year to October 2021. Annual inflation rates at this time are influenced by the effects of coronavirus (COVID-19) in 2020.
The Consumer Price Index (CPI) also rose from 4.2% to 5.1% in November 2021.
A wide range of prices contributed to the rise in inflation, with the largest upward contributions coming from motor fuels as well as clothing and footwear, where prices rose this year but fell a year ago.
See: UK economy latest - Office for National Statistics (https://www.ons.gov.uk/economy/economicoutputandproductivity/output/articles/ukeconomylatest/2021-01-25#inflation)
The Office for National Statistics (ONS) latest figures show the UK’s average house price increased by 10.2% over the year to October, down from 12.3% in the year to September 2021. The average UK house price was £268,000 in October 2021, which is £24,000 higher than this time last year.
The temporary changes to Stamp Duty, Land and Buildings Transaction Tax, and Land Transaction Tax may have allowed sellers to request higher prices as buyers’ overall costs are reduced. As the tax breaks were originally due to conclude at the end of March 2021, it is likely that March’s average house prices were slightly inflated as buyers rushed to ensure their house purchases were scheduled to complete ahead of this deadline.
This effect was then further exaggerated in June 2021, in line with the extension to the holiday on taxes paid on property purchases in England, Wales and Northern Ireland. Following a decrease in July, average house prices increased in the months of August and September 2021, reaching a record level in September 2021 (when the last of the tax holidays came to an end in England). Despite a slight fall in the month of October 2021, average house prices remain higher than the previous peak seen in June.
Private rental prices paid by tenants in the UK rose by 1.7% in the 12 months to November 2021, up from 1.6% in the 12 months to October 2021. The beginning of 2021 saw a slowdown in rental price growth, which was driven by prices in London.
In England the October data shows, on average, house prices have fallen by 1.5% since September 2021. The annual price rise of 9.8% takes the average property value to £285,113.
See: UK economy latest - Office for National Statistics (https://www.ons.gov.uk/economy/economicoutputandproductivity/output/articles/ukeconomylatest/2021-01-25#hpi)
In partnership with Hubbub, the John Lewis Partnership is launching a £1 million fund to support trailblazing ideas and innovations that can accelerate the transition towards a more circular economy.
Whether it's rethinking waste with new products or materials, finding creative ways to shift consumer mindsets or developing new business models and services, then the Challenge would like to hear from you.
The fund will provide grants between £150,000 to £300,000. If you would like to be involved, then complete your application by 9 January 2022.
See: The Circular Future Fund — https://www.circularfuturefund.co.uk/about
The Construction Employer's Federation (CEF) health and safety initiative Safety Reboot returns for a second year in January 2022. The month-long program aims to encourage construction companies to stop work for about 15 minutes, once a week throughout January, to take time to focus on key areas of health and safety.
Resources on eight topics, developed by the CEF Health and Safety committee last year, are available as they cover key areas of construction health and safety. Question packs and discussion aids on three new topics for 2022 - asbestos, respirable crystalline silica and underground services - have also been developed to increase the scope of the initiative.
The resources should be used to start conversation and interaction between the workforce on issues that they encounter every day on site.
See: Safety Reboot 2022 Resources (https://www.cefni.co.uk/news/safety-reboot-2022-resources)
