In 2021, Barclays Bank reported a full-year net profit of £6.38 billion. In September 2021 it reported year to date profit at an all-time high of £6.9 billion. Yet last month we received a letter from them notifying us that they’re implementing additional fees on accounts like ours. Don’t get me wrong, I’m not complaining at the extra […]
Read MoreCashflow & Forecasts
Cost of Living Crisis Survival Guide
It seems I’m referring to increasing prices, inflation or some other form of pressure on our pockets in virtually every post at the moment. As business owners, we’re being squeezed from all sides. So what can we do? Sadly there are no easy answers, but we know that there are a lot of people out […]
Read MoreNew Insolvency Guidance & Regulation
The Insolvency Service has updated their guidance and added a video to explain to Directors what they should do if their company becomes insolvent. Called ‘Company Health Check; keeping your business on track‘ the guidance details the signs of insolvency and the consequences that may occur if the situation isn’t managed correctly. The guidance includes […]
Read MoreNational Insurance Increases
From 1st April 2022 the following rates will apply to National Insurance contributions. Please make sure that you’re ready for the changes! Rates are increasing by 1.25% for employees and employers, as announced in the Autumn Budget 2021, to help fund the NHS, health and social care. Employers’ NIC: increasing to 15.05% (from 13.8%) Employees’ […]
Read MoreNational Minimum Wage and Living Wage Increases
From 1st April 2022 the following rates will apply under National Living Wage and National Minimum Wage legislation. Now’s the time to make sure that you’re prepared, if you aren’t already! New Wage Rates from 1 April 2022 National Living Wage – Age 23 and over: £9.50 National Minimum Wage – 21-22 year old rate: […]
Read MorePrice increases planned by 50% of businesses!
The British Chambers of Commerce’s (BCC) Quarterly Economic Survey (QES) reported that 58% of businesses were planning price increases in the next three months. This is the highest percentage on record, and is in response to ongoing supply chain disruption, rising inflation, increasing interest rates and increasing energy costs. The survey includes responses from a […]
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