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.
-
Dec- 2024 -6 DecemberSupermarkets
Morrisons CEO urges gov to rethink budget costs
Morrisons’ CEO has called on the government to stagger its “avalanche” of business costs following the latest budget.Speaking to The Sun, Rami Baitieh urged Labour to consider the costs of National Insurance changes, business rates rises and the increase in minimum wage. He told the paper that National Insurance changes…
Read More » -
4 DecemberNews-In-Brief
Today’s news in brief-4/12/24
Evri has partnered with the GMB Union to secure an industry-first pay deal that guarantees self-employed couriers insurance-backed paid sick leave. Supported by over 80% of voters, the agreement also includes festive support payments of up to £950 and subsidized insurance for death, disability, accidents, and sickness. This builds on…
Read More » -
4 DecemberHigh Street
Chancellor admits NI rise won’t be ‘easy’ for businesses
Chancellor Rachel Reeves has admitted that it will not be “easy” for businesses to “absorb” the rise in employers’ national insurance contributions. The change, which was announced in the autumn budget, will see employers’ NI contributions rise to 15% from April 2025. Speaking at The Yorkshire Post’s Great Northern Conference…
Read More » -
Nov- 2024 -26 NovemberNews
Halfords CEO calls for apprenticeship levy reform as sales drop 1% in H1
Halfords has called on the Government to reform the apprenticeship levy amid a 1% drop in revenues for the 26 weeks to 27 September 2024. Revenues for the retailer dropped to £864.8m in H1 FY25, compared to £873.5m in 2024. Autocentres, which accounts for 40% of total sales, reported a…
Read More » -
19 NovemberNews-In-Brief
Today’s news in brief-19/11/24
Morrisons has achieved a significant reduction in its debt, cutting it by £2.4bn as part of a major restructuring. Since the start of 2023, the supermarket’s debt has dropped from £6.2bn to £3.8bn, supported by a £370m ground rent deal with Song Capital. The restructuring extended Term Loan Facilities to…
Read More » -
19 NovemberEconomy
Retailers warn National Insurance increase could cause job losses
A number of large retailers have warned that the National Insurance increase could cause inflation and job losses, in a letter sent to chancellor Rachel Reeves. Over 70 businesses including Tesco, Sainsbury’s, Next, Amazon, and Boots have written to Reeves, in a letter organised by the British Retail Consortium. The…
Read More » -
15 NovemberNews-In-Brief
Today’s news in brief-15/11/24
The UK economy stagnated in Q3 2024, with GDP rising just 0.1%, a sharp slowdown from 0.5% growth in Q2. The services and construction sectors saw modest gains, but production shrank. Nominal GDP increased by 0.8%, driven by rising employee compensation. Economic uncertainty, partly due to the upcoming budget, hindered…
Read More » -
15 NovemberEconomy
UK economy stagnates in three months to September
UK gross domestic product (GDP) is estimated to have stagnated during the third quarter of the year as uncertainty ahead of the budget affected decision making, according to the latest figures from the Office For National Statistics. The ONS found that UK GDP increased by 0.1% in Quarter 3 (July…
Read More » -
15 NovemberEconomy
BRC warns chancellor Budget could cause inflation and job losses
The British Retail Consortium (BRC) has warned that the latest budget could cause inflation and job losses, in a draft letter seen by Sky News. In the draft, the BRC estimated that the National Insurance changes would increase retailers’ tax burden by £2.3bn annually. It also argued that the number…
Read More » -
11 NovemberSupermarkets
Tesco to face £1bn increase to NI bill following Labour’s Budget
Tesco is expecting to see an increase of £1bn in its national insurance bill over the next four years following Labour’s Autumn budget, according to the Times. The chancellor Rachel Reeves has increased Employers’ National Insurance contributions in a bid to help raise as much as £40bn in taxes, pledging…
Read More »
