Business News

2024 is going to be a more important year than ever for industry CEOs and business owners to measure their carbon footprint and implement carbon mitigation strategies.

27 million people across the UK will benefit from a yearly tax cut worth hundreds of pounds, meaning a household with two average earners will save nearly £1,000 per year.

January 2024 marks the launch of Acumen, after the successful acquisition of TBD Media Group by AIIG (Acumen International Investments Group).

Downtown in Business have announce its final two speakers to an already eclectic mix of high-profile guests from both the public and private sector for their annual national planning, property and regeneration conference hosted on Thursday 8th February at The Lowry Hotel, Salford.

The next stop on Talbots Law’s expansion journey is Worcester after it announced its third acquisition in the space of twelve months.

Ahead of the launch of talks on an upgraded trade deal with Turkey, Trade Secretary Kemi Badenoch visits Istanbul to strengthen trade ties and kick off a year of boosting services trade.

With less than a month to go to the Self Assessment deadline, HM Revenue and Customs (HMRC) is urging nearly 5.7 million customers to file their tax return for the 2022 to 2023 tax year.  

HMRC data shows almost 6.5 million customers have already beaten the Self Assessment clock by filing their tax return, including 49,317 customers who used the New Year holiday to get a head start on their tax obligations: 

• 25,593 customers filed their tax return on New Years Eve, with the most popular time being between 12:00 and 12:59, when 2,677 customers filed 
• 127 customers saw in the New Year by filing their tax return between 00:00 and 00:59 on 1 January  
• 23,724 customers filed on New Year’s Day, with the most filing between 15:00 and 15:59, when 2,354 customers filed

The deadline to file a tax return for the 2022 to 2023 tax year and pay any tax owed is 31 January 2024. Customers can submit their tax returns and pay any tax owed online at GOV.UK. Myrtle Lloyd, HMRC’s Director General for Customer Services, said: “The clock is ticking for those customers yet to file their tax return. Don’t put it off, kick start the new year by sorting your Self Assessment. Go to GOV.UK and search ‘Self Assessment’ to get started start today,” 

HMRC has a wide range of resources online including a series of video tutorials on YouTube, help and support on GOV.UK, to support customers in completing their tax return. The quickest and easiest way customers can pay their tax bill is via HMRC’s app which is free and secure. Information about the different ways to pay, can be found on GOV.UK.

Customers who are unable to pay in full can access support and advice on GOV.UK. HMRC may be able to help by arranging an affordable payment plan, known as Time to Pay for those who owe less than £30,000. Customers can arrange this themselves online. Go to GOV.UK and search “HMRC payment plan” for more information.

HMRC will consider a customer’s reasons for not being able to meet the deadline. Those who provide HMRC with a reasonable excuse may avoid a penalty. 

The penalties for late tax returns are: 

• an initial £100 fixed penalty, which applies even if there is no tax to pay, or if the tax due is paid on time 
• after 3 months, additional daily penalties of £10 per day, up to a maximum of £900 
• after 6 months, a further penalty of 5% of the tax due or £300, whichever is greater 
• after 12 months, another 5% or £300 charge, whichever is greater 

There are also additional penalties for paying late of 5% of the tax unpaid at 30 days, 6 months and 12 months. Interest will also be charged on any tax paid late.  

Customers need to be aware of the risk of falling victim to scams and should never share their HMRC login details with anyone, including a tax agent, if they have one. HMRC scams advice is available on GOV.UK. 

September (and a bit of October) 2023 was an important month in the world of business, as Brian Butterfield made his live stage debut, imparting all his business knowledge from his decades spent within the business world working as everything from Lord Mayor’s Croupier to Circus Horse Dentist.

Birmingham Health, Safety and Environment (BHSEA) Members tasted success at an Awards Ceremony held earlier this month at Walsall Football Club.

PureHealth Holding PJSC (Public Joint Stock Company under incorporation; the "Company"), have announced the successful completion of the subscription process for its initial public Offering ("IPO" or the "Offering") on the First Market of the Abu Dhabi Securities Exchange ("ADX"). 

Dukosi Ltd, the technology company revolutionizing the performance, safety and sustainability of battery systems, have announced former BMW executive Stefan Juraschek and Dr Anna Stefanopoulou, William Clay Ford Professor of Technology in the Department of Mechanical Engineering at the University of Michigan, will join Bob Galyen on the Dukosi Technical Advisory Board (TAB).

CSR reflects businesses’ commitment to supporting causes of importance, showing the role they play in improving the wellbeing of communities, addressing societal issues and overall building a better future.

Raj Kandola, director of external affairs at Greater Birmingham Chambers of Commerce, said: “This morning's GDP results underline the fragile nature of the economy as growth flatlined last quarter and fell in October more sharply than expected.

With several South Asian politicians occupying top positions in UK political parties and local governments, the rise of South Asians in UK politics is undeniably evident.

Local logistics firm, Europa Worldwide Group site at Prologis Park on Midpoint Way in Birmingham has fully achieved Customs Warehouse Authorisation by HMRC, marking the next major step in its warehouse investment programme to better support the pain points of traditional and ecommerce retailers.

Osprey Charging, the UK’s leading and fastest-growing EV rapid-charging network, has now successfully installed over 1,000 high-power EV charging points throughout the UK, more than doubling the size of its network in the last year.