National Insurance
This coverage explores the impact of National Insurance policies and changes on the UK retail sector, focusing on employer contributions, payroll costs, regulatory compliance, and workforce planning. Reporting highlights how retailers adjust strategies to manage costs and meet obligations — providing insight for executives, managers, and HR professionals overseeing financial and operational planning.
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Feb- 2024 -22 FebruaryHigh Street
Taxpayers to foot bill for Body Shop redundancies
Taxpayers are set to pay millions of pounds to laid off staff at The Body Shop as the restructuring of the collapsed chain gets underway, The Telegraph has reported. Employees who have lost their jobs have reportedly been told to make claims through the government-backed redundancy payments service, which is…
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Jan- 2024 -9 JanuaryHigh Street
Festive period fails to boost retail sales, BRC finds
Total retail sales in the UK rose by only 1.7% in December, against a growth of 6.9% the prior year, as Christmas failed to “make amends” for what was a challenging year in retail. December’s growth was below the three-month average growth of 2.3%, and below the 12-month average growth…
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Dec- 2023 -8 DecemberAnalysis
What’s in store for retailers in 2024?
The announcement made by Chancellor Jeremy Hunt in the Autumn Budget has unveiled a series of measures aimed at bolstering the UK economy, with the aim to particularly benefit retail. Hunt believes that the reduction in National Insurance, the freezing of business rates, and increments in the National Living Wage…
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Nov- 2023 -22 NovemberEconomy
Chancellor cuts National Insurance to 10% alongside NLW rise
Chancellor Jeremy Hunt has announced a series of measures to help boost the UK economy as part of his Autumn Budget including slashing National Insurance by 2% and freezing business rates for retail and hospitality. As part of the new measures, Hunt revealed that National Insurance will be cut from…
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Oct- 2023 -17 OctoberAdvice
Navigating retail taxation: A comprehensive guide
For retailers in the United Kingdom, understanding and managing retail taxation is paramount to maintaining compliance and financial stability. The UK tax system is complex, with various regulations governing sales tax, income tax, and other related obligations. In this feature, we will provide a comprehensive guide for retailers on how…
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Jun- 2023 -6 JuneTechnology
Boots among companies hit by cyber attack
Boots is one of a number of major companies including the BBC and British Airways that has been bit by a cyber attack believed to have been orchestrated by a Russian-speaking criminal gang. Reports suggest the hackers targeted software called MOVEit used by payroll provider Zellis. According to The Telegraph,…
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2 JuneOnline & Digital
Amazon UK tax bill rises to £781m
Amazon has reportedly paid £781m of tax in the UK last year despite its main UK division having paid no corporation tax for the second year in a row, according to The Guardian. The outlet revealed that Amazon UK Services, which accounts for over half of the retail giant’s UK…
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Mar- 2023 -15 MarchEconomy
Spring Budget: Corporation tax to rise to 25%
Corporation tax is set to rise from 19% to 25% for firms with profits over £250,000, as part of a number of measures announced in chancellor Jeremy Hunt’s Spring Budget. To help offset the corporation tax rise, Hunt also announced a provision of £9bn of “full capital expensing” which for…
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Oct- 2022 -17 OctoberEconomy
Chancellor reverses almost all mini-budget tax cuts
Newly appointed chancellor Jeremy Hunt has reversed almost all of the mini-budget commitments made by previous chancellor Kwasi Kwarteng last month, in a statement made at the Treasury today (17 October). He confirmed the basic rate of income tax will remain at 20% “indefinitely” until the economic situation stabilises, marking…
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Sep- 2022 -23 SeptemberEconomy
Chancellor announces sweeping tax cuts in first mini-budget
Chancellor Kwasi Kwarteng has today (23 September) announced a ream of tax cuts alongside a £60bn energy support package as part of the new government’s first mini-budget. Setting out his aims for economic growth, Kwarteng said that he wants the economy to increase by 2.5% annually in the medium-term, through…
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