NEWS

The latest from Balance for Business

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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Manufacturers fear post-Brexit border disruption

Three quarters (76%) of British manufacturers fear post-Brexit border delays would adversely impact their trading, according to a survey by insurer AIG and manufacturing association EEF, which also reveals that 62% of manufacturers are planning to stockpile goods. “This is bringing with it a whole host of risks from increased exchange rate volatility to rising […]

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Red light warnings to flag late payers

Small business commissioner Paul Uppal will this week unveil plans that will see large firms that fail to pay their suppliers on time named and shamed. The traffic light warning system will use data on payment practices to highlight repeated late payers, giving them a red light to flag the issue to suppliers, with red […]

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No-deal customs advice for small businesses

David Miller of The Customs People outlines some of the practical measures small businesses should take if they trade with the EU, to comply with the government’s advice on no-deal Brexit. This first step firms should take is to register for an Economic Operator Registration and Identification (EORI) number. Mr Miller also recommends hiring a […]

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Government spends £100m on ferries in case of ‘no-deal’

The Government will spend more than £100m chartering extra ferries to ease “severe congestion” at Dover, in the case of a no-deal Brexit. The contingency plans allow for almost 4,000 more lorries a week to come and go from other ports, including Plymouth, Poole, and Portsmouth. The UK Chamber of Shipping welcomed the fact that […]

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