NEWS

The latest from Balance for Business

Consumer borrowing slows

The Bank of England reported that the annual growth of unsecured lending in the month fell to 6.6%, down from 7.2% in November. This was the weakest figure since December 2014. Credit-card lending growth slowed to 7.1%, down from 7.9% the previous month. Surveys have shown consumer confidence to be at a 5 year low […]

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Businesses urged to register for research funding

Science Minister Chris Skidmore has urged UK businesses benefitting from Horizon 2020 research funding to register their details with the Government so they can continue to receive funding if in the event of a no-deal Brexit. The Government’s online portal was launched in September 2018 after the Government announced it would guarantee all successful UK […]

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Government launches £2m funding competition

The Government has launched a new £2m funding competition for productivity-boosting tech and management practices. The money comes from the Business Basics Fund which is part of the modern Industrial Strategy. The strategy aims to boost UK national productivity and is being delivered alongside Innovate UK and Nesta. Geoff Mulgan, chief executive of Nesta, said […]

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Personal and corporate insolvencies leap

The number of people in England and Wales going insolvent due to unmanageable debt hit a seven-year high in 2018. Personal insolvencies totaled 115,299, a 16.2% rise on 2017, the Insolvency Service said. A rise in company insolvencies to 4,725 in the last quarter, spurred by the collapse of hundreds of construction and retail businesses, […]

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Landlords still claim billions in tax relief

Buy-to-let landlords across the country claimed a record £17.7bn in tax relief last year, despite new fiscal regulations, according to Ludlow Thompson. The estate agent added that even once all of the government’s planned reductions to buy to let tax relief are fully implemented by 2020, landlords will still be able to offset £16.7bn of […]

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Should you hire an overqualified employee?

Is it a risk to employ somebody who is clearly overqualified for the role? Kate Palmer considers why the answer isn’t always that simple. Most employers will be in agreement that when it comes to hiring new staff, they want someone who best meets the desired levels of skills and experience, however, there can often […]

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We’re on the move – this weekend!

Friday is move day.  We’re saying farewell to our offices at Langage Business Park in Plympton and hello to our new premises at Forresters Business Park in Estover, Plymouth. Explaining the move, managing director Dave Ottley said: “This move will enable us to take more space to allow for our planned expansion over the next […]

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Sorrell: UK should copy Singapore’s low taxes after Brexit

Sir Martin Sorrell has suggested Britain should copy Singapore’s model of light-touch regulation and low taxes after Brexit. The founder of advertising giant WPP commented: “My view is that you will have to build a British brand and it’s going to be a tax-light, low tax area and in my view it’s going to be […]

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No-deal Brexit threat to growth

The IMF has warned that a no-deal Brexit and a sharper slowdown in China are the biggest risks to growth in the global economy in 2019. In a new report on the world economic outlook, the organisation also warns escalating trade tensions could undermine global economic growth. The report also predicts the UK’s GDP will […]

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Revealed: HMRC’s ten most ridiculous self-assessment tax expense claims

The UK tax authority has released its latest list of the most bizarre and optimistic tax expense claims it received last year, ahead of the 2017 self-assessment tax deadline on 31 January. To discourage small business owners from making over-the-top tax expense claims that have little chance of being accepted, HMRC’s list of favourites reveal […]

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