NEWS

The latest from Balance for Business

Landbay: Brexit costs London landlords £1.8k in rental growth

Landlords in London are potentially £1,806 worse off since the vote to leave the EU in June 2016, according to the latest Landbay Rental Index. Using a conservative projection, rental growth in the capital is now 2.84% lower than expected back in June 2016, but this could be as high as 4.15%. This higher estimate […]

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Brexit remains the biggest challenge in 2019

Research from ICAEW shows businesses have the same concerns for the next twelve months as they did in 2018 with uncertainty around Brexit the biggest challenge. Other issues such as slowing UK economic growth, rising UK inflation, plus the lack of clarity on longer-term business priorities also weigh on confidence. Michael Izza, CEO of the […]

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VAT now 21% of HMRC’s total tax take

VAT receipts made up 21% of HMRC’s total tax income in 2017/18, according to UHY Hacker Young – up from 18% in 2008/09. This proves that the Treasury has “become increasingly reliant on VAT as a source of revenue”, the firm stated. “VAT has become a crucial component of total tax take and the Government […]

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UK asset finance market remains on track for record year

Figures from the Finance & Leasing Association (FLA) show that growth in asset finance new business was at a similar level to the same month in 2017. The plant and machinery finance and business equipment finance sectors reported new business up in November by 9% and 8% respectively, compared with the same month in 2017. […]

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UK economy posts slowest growth in six months

The British economy slowed in the three months to November, the Office for National Statistics reported on Friday, as car manufacturing went into reverse amid the broadest drop in industrial production since 2012. GDP grew 0.2% compared to October, and by 0.3% in the 12 weeks to the end of the month, the weakest since […]

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Thousands of self-employed to benefit from “tax grab” Loan Charge review

A retrospective tax on self-employed individuals who made use of alternative remuneration schemes will now be reviewed by the Treasury, following a key amendment to incoming legislation. Liberal Democrat MP Ed Davey secured an amendment to the Loan Charge in the government’s latest finance bill, requiring the chancellor to review the effects of the legislation […]

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Balance for Business shortlisted as Business Moneyfacts Awards finalists

We’re proud to announce that Balance for Business has been shortlisted as finalists for the Business Moneyfacts Awards 2019, in the ‘Commercial Finance Specialist Distributor of the Year’ category! Commenting on the shortlisting, Dave Ottley, Managing Director said: “Being shortlisted for such a prestigious award is testament to the hard work our team puts into delivering […]

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World Bank warns of ‘darker skies’ for global economy

The World Bank has warned of increasing risks, or what it calls “darkening skies”, for the world economy. In its annual assessment of global prospects the World Bank predicts continued, though somewhat slower, growth this year and next. The Bank’s forecast for the global economy is expansion this year of 2.9% and 2.8% in 2020. […]

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May defeated over no-deal preparations

MPs have inflicted what Theresa May was told would be the first in a long line of Brexit defeats in Parliament by backing measures designed to thwart her preparations for a no-deal exit. They voted 303 to 296 in favour of an amendment to the Finance Bill, which would limit the scope for tax changes […]

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Majority of workers do not get paid overtime

Research by Jobrapido shows that 51% of UK workers who work additional hours outside their contract do not get paid overtime. Of those who do not receive extra pay for extra hours, 20% said they are given extra holiday instead. The research, focusing on 1,500 employees across the UK working in more than 50 different […]

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