Streets Chartered Accountants covers energy bills, capital allowances, National Insurance, changes in VAT penalties, interest rates increases, and more in new news roundup
Streets Chartered Accountants covers the new Energy Bills Discount Scheme, capital allowances, National Insurance, changes in VAT penalties, interest rates increases, and more in its new news roundup.
Energy Bills Discount Scheme
The new Energy Bills Discount Scheme replaces the Energy Bill Relief Scheme which came to an end on 31 March 2023.
Spring Budget 2023 – Capital allowances
Designed in part to help offset the increased Corporation Tax main rate, the Chancellor announced the introduction of a new ground-breaking 100% first-year capital allowance for qualifying plant and machinery assets. This measure is also expected to help boost business investment and growth.
National Insurance if working abroad
If you move abroad, it can often be advantageous to continue paying your UK National Insurance Contributions (NICs) in order to preserve your entitlement to the State Pension and other benefits.
More time to top-up NICs
In some circumstances it can be beneficial to make voluntary National Insurance Contributions (NICs) to increase your entitlement to benefits, including the State or New State Pension.
Changes in VAT penalties
The first monthly returns and payments affected by HMRC’s new VAT penalty regime were due by 7 March 2023. The new VAT penalty rules apply to the late submission and / or late payments of VAT returns for VAT return periods beginning on or after 1 January 2023.
Adding employees to a workplace pension scheme
Automatic enrolment for workplace pensions has helped many employees make a start on providing for their retirement with the advantage that employers and government are also contributing to their pension pot.
Spring Budget 2023 – Pension changes
One of the key measures of the Spring Budget was the announcement that the £40,000 cap on annual pension contributions will be increased by 50% to £60,000 from 6 April 2023.
Get information about a company
There is a significant amount of information about companies that can be obtained from Companies House.
Spring Budget 2023 – Childcare changes
One of the main areas targeted by the Spring Budget was changes to childcare.
Pensioner Cost of Living Payment 2023-24
The Cost of Living support package has been designed to help over 8 million households in receipt of means tested benefits.
Spring Budget 2023 – Energy Price Guarantee
The Chancellor had previously announced that the energy price guarantee cap, which will see the average household have their energy bills capped at £2,500 a year, would remain in place until the 31 March 2023. It was announced as part of the Spring Budget measures that this cap will now be extended for a further 3-months until 30 June 2023.
Bank of England and HMRC increase interest rates
The Bank of England’s Monetary Policy Committee (MPC) met on 22 March 2023 and voted 7-2 in favour of raising interest rates by 25 basis points to 4.25% in a move to tackle continued, rising inflation. This is the eleventh time the MPC has increased interest rates with rates now the highest they have been since November 2008.
Connect with hundreds of industry professionals at the Property & Business Investment Lincolnshire Expo
The UK property and construction market faces challenges on a daily basis, yet it continues to innovate and adapt to meet the changing needs of the market and remains a vital component of the UK economy.
The industry is making ongoing progress with sustainability, a focus on green buildings and renewable energy, along with the use of sustainable materials, energy-efficient designs and renewable energy sources, a trend that looks set to continue.
In terms of workforce, whilst it is still facing a significant skills gap, particularly in areas like carpentry, bricklaying and plastering, many companies are now embracing internal investment with training and apprenticeships to attract and retain the skilled workforce required in this multi-talented sector.
As time is a precious commodity in a busy working week, don’t miss out on the opportunity to connect with hundreds of industry professionals and potential clients at the Property & Business Investment Lincolnshire Expo – 26th April 2023 at the Bentley Hotel, Lincoln LN6 9NH, all in one amazing day.
With a wide range of exhibitors and attendees from various related industries, this is the perfect opportunity to expand your network and grow your business.
Free to attend, register today at https://businessshowsgroup.co.uk/register/
Additionally, why not start your day off at the network breakfast (breakfast roll & drink) available 8:30am – 9am (£12.50 plus vat). Order at https://businessshowsgroup.co.uk/product/network-breakfast-lincolnshire/
And to top it off, just by attending, you can have the chance to win big with an exclusive giveaway offer – choose between £250 cash or a space up to the value of £800 at the East Midlands Expo (13th November 2023). So don’t hesitate, register today for this exciting event!
Barwell residential scheme to go ahead following planning appeal
Planners at Harris Lamb have successfully appealed against attempts to block 51 new homes being built near Hinckley.
The development, earmarked for a greenfield site located on Hinckley Road in Barwell, will now go ahead after being given the green light by a Planning Inspector.
Harris Lamb were instructed by Barwell Capitol to mount an appeal against Hinckley and Bosworth Borough Council after the authority failed to determine a planning application proposing the construction of 51 properties, ranging from two- to five-bedrooms, on the site.
The application was submitted in July 2021. It remained undetermined at October 3rd last year and a non determination appeal was made. The hearing and site visit were held earlier this year.
Although an official decision was not provided, the Council sought to resist the development on a number of grounds, suggesting the development would not provide satisfactory living conditions for the residents, and concerns over the safeguarding of protected species and the provision of a net biodiversity gain.
In responding to the issues, the inspector appointed by the Secretary of State, M Aqbal, said: “I have considered these arrangements and found that they would not result in any unacceptable impacts on living conditions. I, therefore, do not share the Council’s conclusion that these arrangements are indicative of a poor and cramped layout.”
The Inspector went on to say that an Ecological Impact Assessment had been submitted at the time of the application providing the results of relevant ecological and protected species surveys, confirming that the presence of protected species was not a statutory ecological constraint to the development, subject to recommendations for precautionary measures, adding: “As such, and based on the discussions at the Hearing, the reference to protected species in the Council’s reason for refusal was an oversight.”
In approving the plans, the inspector added that in the interests of safeguarding protected species and to enhance biodiversity, a condition had been imposed requiring that the development be carried out in accordance with recommended mitigation measures contained in the ecological survey submitted alongside the application.
Simon Hawley, of Harris Lamb’s Planning Consultancy team, said: “We are, once again, that our appeal has been successful and that this development can proceed, bringing much-needed, quality homes to the area.
“We take great care in working with our clients in preparing these plans to ensure that all proposals are submitted with ecological impact assessments and that we include comprehensive measures to ensure the buildings are sympathetic with the local surroundings and include contributions to enhance and improve the infrastructure and facilities to benefit all residents.
“We are pleased that the inspector took the time to thoroughly understand the full extent of these plans and the beneficial impact they will have on the community in making this ruling.”
First phase of new Daventry neighbourhood takes major step forward
A new neighbourhood in Daventry has taken a significant step forward after Midlands-based homebuilder Spitfire Homes and Crest Nicholson secured reserved matters approval to build 222 properties on land at Malabar Farm.
West Northamptonshire Council’s strategic planning committee has approved current proposals, representing the first phase of the development, which will comprise a mix of one- to five-bedroom homes, 65 of which will be affordable. The wider scheme will also incorporate more than 20 hectares of public open space, a new primary school, nursery and community centre, alongside food and retail units.
Located on the western edge of Daventry, the 50-hectare development already has outline planning permission for up to 1,100 new homes, meeting rising demand for homes due to employment growth, investment activity and strong connectivity links in the area.
Ben Leather, Managing Director at Spitfire Homes, said: “Daventry is a growing market with house hunters looking for accessible country living and an attractive work-life balance. Strong transport links and employment opportunities in the area make it particularly attractive for new home buyers, so we expect to see a lot of interest in these homes.
“We’re committed to meeting the rising demand for new homes across the Midlands region, supporting our vision to deliver high-quality, future-proofed homes fit for modern living. We recently made our debut in Northamptonshire, with work well underway at our nearby development in Kislingbury, so we’re really excited this scheme has also taken a positive step forward.”
Tim Brickley, Managing Director at Crest Nicholson Midlands, said: “As part of our continued commitment to invest in new homes in the Midlands, we are pleased to have been granted planning permission for Malabar, adding to Crest Nicholson’s already strong offering for home buyers in the region.
“Our other local Daventry development, Monksmoor Park, has proven extremely popular with a wide range of home buyers over the last decade. We look forward to continuing our track record of delivering high quality communities for buyers looking for quality homes in well-connected locations.”
CBI Director General dismissed with immediate effect following independent investigation into workplace misconduct
CBI Director General Tony Danker has been dismissed with immediate effect following an independent investigation into complaints of workplace misconduct.
Law firm Fox Williams was hired to investigate Danker in March after a formal complaint made in January from a female CBI employee, who alleged he made unwanted contact with her and considered it to be sexual harassment. It also followed further alleged informal reports of concerns over his behaviour.
The first phase of this investigation has now concluded and, following subsequent reports of wider workplace misconduct, the CBI Board has dismissed Danker, brought in new leadership, with Rain Newton-Smith, former CBI Chief Economist and currently Managing Director, Strategy and Policy, Sustainability and ESG for Barclays, agreeing to rejoin the CBI as its new Director General, and made changes to how it operates.
Jill Ader, a CBI Board member and Senior Adviser and recent Global Chair of the leadership advisory firm Egon Zehnder, will oversee a root-and-branch review of the CBI’s culture, governance and processes, leading a new sub-committee of the Board alongside its President Brian McBride.
A new, elevated position of Chief People Officer will also be created, which will sit on the CBI’s executive committee and report directly to the Board on all matters of workplace conduct and culture.
The CBI also revealed that three other CBI employees have now been suspended pending further investigation into a number of ongoing allegations. It added that while Fox Williams continues with the next phase of its inquiry, the CBI is liaising with the police and will cooperate fully with any investigations.
A statement from the CBI said: “The allegations that have been made over recent weeks about the CBI have been devastating. While investigations continue into a number of these, it is already clear to all of us that there have been serious failings in how we have acted as an organisation. We must do better, and we must be better.
“We apologise to the victims of this organisational failure, including those impacted by the revulsion we have all felt at hearing their stories. Nobody should feel unsafe in their workplace.
“We wish to thank all those who have had the courage to speak out, through internal or external channels, and encourage them to keep doing so. Our website describes how to do so, providing contact details for specific CBI Management or for an independent third party, whichever route individuals feel more comfortable taking.
“The CBI exists to help British business flourish. This is a privilege and responsibility which we take extremely seriously and cannot take for granted. We represent our members not just in how we advocate for them, but also through our values as an organisation. It means we must be a place where colleagues are safe, valued and respected, and where there is zero tolerance for behaviour that falls short of those expectations.”
Flint Bishop unveils new flagship headquarters in Derby
Top 200 law firm Flint Bishop has acquired multi-million-pound headquarters on Derby’s Pride Park, making continued strides in its ambitious expansion plans and facilitating a strong base for further accelerated strategic growth.
Opening its doors on 11 April 2023, the fully refurbished, high tech, state-of-the-art premises offers a combined 21,900 sq ft across two sites at 2 and 3 Prospect Place. The new offices elevate both client and employee experience from its previous headquarters at St. Michael’s Court, where the firm has been based for two decades.
The newly named ‘Pinnacle Building’ at 2 Prospect Place offers some 18,000 sq ft of Grade A modern high tech office facility, symbolising the firm’s commitment to excellence, innovation, and reaching new heights, and reflects Flint Bishop’s reputation and position within the legal industry.
In addition to a comprehensive new client suite, a dedicated luxury Business Café spanning 2,300 square feet has been incorporated, which includes cutting-edge equipment and designs crafted by multiple nationally renowned teams to offer ample space for staff to relax during their breaks or have a quick meeting in comfort.
The new accommodation combines open group working areas with focus rooms and touch down desks to support agile working and interdepartmental collaborative engagement. Green spaces have also been installed to encourage natural light and mood-boosting elements.
Chief Executive Qamer Ghafoor said: “I have made significant investment into the new offices with an extensive fit-out which has taken some nine months. It was important to me that our new headquarters reflect the commitments and achievements of Flint Bishop and offer excellent environment to our staff and our clients.
“This is an exciting time for the business. Due to our continued growth and recent sharp rise in staff numbers, significant investment in our headquarters is crucial to allow for sustainable expansion, as we continue to grow and diversify our client base and services.
“The new and improved accommodation will provide a more modern, high-tech, creative, open, and collaborative working environment and offer many additional facilities for clients and staff. It has provided us with a completely blank canvas to strengthen the way we work and support each other, elevate our combined service offerings, and help to advance our position within the legal sector.”
News of the move comes after Flint Bishop announced its strongest financial results to date. End of year figures show that turnover climbed to £19m, an increase of 13% on the previous year, with significant new client wins.
2022 was also an exceptional year in terms of firm-wide recruitment and promotions, which have materialised in response to the increase in demand across all practice areas. The current growth rate has seen the firm boost its headcount by nearly 10%, with total number of employees now standing at well over 200, the highest in the firm’s history.
Ghafoor added: “Flint Bishop is in a very strong financial position, and we have made significant strides towards achieving our ambitious expansion plans. The strategic focus is growth based on targeted acquisitions, recruitment of key lateral hires and significant ongoing investment in our people and technology.
“We now look forward to welcoming staff to our new HQ and enhancing the experience and services we can provide our clients while maintaining our excellent location, right in the heart of Derby and the Midlands.”
Government must work with SME manufacturers in East Midlands’ ‘Centre of Trading Excellence’ to shape vision for UK industry
Small manufacturers have a vital role to play in shaping a strategy for UK industry – but they need a clear, consistent vision from Government first.
This was one of the key messages at the East Midlands Manufacturing and Trade Conference 2023, in which business, industry and academic leaders came together to discuss opportunities and challenges.
More than 170 people attended the summit, organised by East Midlands Chamber in partnership with East Midlands Airport, Geldards and Loughborough University, which hosted the event at its West Park Teaching Hub on Thursday 6 April.
It was the latest initiative in the Chamber’s engagement programme to develop insights behind its regional economic blueprint, titled A Centre of Trading Excellence: A Business Manifesto for Growth in the East Midlands and Beyond, which was launched in Westminster last autumn.
The 12-page manifesto is led by “The Big Opportunity” for Government to further develop the region’s key assets – its industrial heritage, leading-edge universities, central location and the country’s largest pure freight airport – to establish a formula for economic growth across UK regions as part of priority national agendas such as levelling up and net zero.
Chris Hobson, director of policy and insight at East Midlands Chamber, said: “It’s always important to tap into the knowledge base of our region’s manufacturing leaders, who live and breathe the everyday reality of running a business in an industry that holds the key to unlocking future economic prosperity but is also experiencing a long list of challenges.
“One of the threads that ran through several discussions was the importance of having a consistent, shared vision between Government and business.
“Policy has changed direction far too often, including numerous industrial strategies in recent times, for companies that require a stable environment to breed the certainty which ultimately leads to long-term investment plans.
“When creating this vision, it’s vital that SMEs are at the heart of it in a bottom-up approach, while it must also be underpinned by targeted public investment. For businesses, the message is they should also be willing to play an active role in these discussions with our policymakers.”
The conference included keynote speeches from:
· Nora Senior CBE, chair of the East Midlands Freeport, which recently received official approval from Government and was described as “one of the most transformative economic initiatives this region has seen in a long time”
· East Midlands Airport’s new managing director Steve Griffiths, who explained how the average export tonne that passes through the airport’s cargo operation is worth £335,000 – 1.9-times higher than other UK airports and 168-times higher than the average for all British ports
· Loughborough University vice-chancellor and president Professor Nick Jennings, and professor of manufacturing automation and robotics Niels Lohse, who explained the financial and cultural barriers to adoption of automation, which he said could improve productivity by 22% just by using technology that’s already available.
Chris added: “There were some really interesting lessons from our speakers. We know all about how poorly we perform as a nation when it comes to productivity despite being an international leader in digital technology innovation.
“There are clearly some significant cost and cultural barriers to adoption that we must begin to understand in order to implement these innovations within our manufacturing processes.
“Also, the importance of East Midlands Airport’s cargo operation to our region’s economy was reinforced by insights into the high-value goods in sectors such as automotive and aerospace it transports across the world – and with 28% of all cargo originating in the East Midlands, this reaffirms the Centre of Trading Excellence we have in this region.”
Streets Chartered Accountants sponsor Overall Winner for sixth year running at the East Midlands Bricks Awards
Streets Chartered Accountants will sponsor the East Midlands Bricks Awards for the sixth year running in 2023, backing the prestigious Overall Winner award.
Speaking with Business Link, James Pinchbeck, partner at Streets Chartered Accountants, said: “Streets Chartered Accountants, as specialists in property and construction, are looking to build on our reputation for looking after clients in the sector.
“Our continued support and engagement with the East Midlands Bricks Awards certainly is a great way to promote our work, support the sector and for us to connect with developers, contractors, agents and other professionals who across the region are engaged in a plethora of exciting, imaginative and innovative projects.
“The Bricks has earned an enviable reputation as a must enter awards for those involved in the construction and property sector from across the East Midlands. As such we are delighted to be sponsoring the ‘Overall Winner’ category for the sixth year in a row and are really looking forward to attending this year’s awards evening in September.”
The awards, which will take place on Thursday 28 September at the Trent Bridge Cricket Ground, celebrate the outstanding work of those shaping the landscape of our region, recognising development projects and people in commercial and public building across the East Midlands – from offices, industrial and residential, through to community projects such as leisure schemes and schools.
Nominations are now OPEN for East Midlands Business Link’s annual Bricks Awards.
To nominate your (or another) business/development for one of our awards, please click on a category link below or visit this page.
To be held at:
“The Bricks has earned an enviable reputation as a must enter awards for those involved in the construction and property sector from across the East Midlands. As such we are delighted to be sponsoring the ‘Overall Winner’ category for the sixth year in a row and are really looking forward to attending this year’s awards evening in September.”
The awards, which will take place on Thursday 28 September at the Trent Bridge Cricket Ground, celebrate the outstanding work of those shaping the landscape of our region, recognising development projects and people in commercial and public building across the East Midlands – from offices, industrial and residential, through to community projects such as leisure schemes and schools.
Nominations are now OPEN for East Midlands Business Link’s annual Bricks Awards.
To nominate your (or another) business/development for one of our awards, please click on a category link below or visit this page.
Award categories include:
- Most active estate agent
- Commercial development of the year
- Responsible business of the year
- Residential development of the year
- Developer of the year
- Deal of the year
- Architects of the year
- Excellence in design
- Sustainable development of the year
- Contractor of the year
- Overall winner
Book your tickets now
Tickets can now be booked for the awards event – click here to secure yours. The special awards evening and networking event will be held on Thursday 28 September 2023 in the Derek Randall Suite at the Trent Bridge County Cricket Club from 4:30pm – 7:30pm. Connect with local decision makers over canapés and complimentary drinks while applauding the outstanding companies and projects in our region, and hear from Mike Denby, Director of Inward Investment and Place Marketing at Leicester City Council, our keynote speaker. Dress code is standard business attire. Thanks to our sponsors:
To be held at:
Adults helped after homelessness by Derbyshire housing trust given eggcellent Easter by generous local companies
Easter eggs aren’t just for children – that was the feeling of generous company staff when they donated hundreds of chocolate treats for grown-ups helped into Derbyshire properties after experiencing homelessness.
Shacklocks solicitors, which has branches in Belper, Derby, Ripley and Mansfield, turned Easter bunny in aid of people supported by Derventio Housing Trust. Derventio’s residents received more than 50 eggs donated by Sean Clare, senior business director at Blue Arrow recruitment, too.
The legal firm donated huge numbers of eggs, bunnies, sweets, vegan and diabetic-friendly goodies to help people in Derventio’s properties enjoy their Easter.
The eggs were handed over to grateful Derventio staff working at its Growing Lives base in Ilkeston. Growing Lives is a day centre run by Derventio which provides people in its properties – and referred there via other services – with communal activities such as woodworking, craft and walks, with the aim of helping support them to get back on their feet again.
Many people who have attended Growing Lives have said it really helped them turn their lives around. They include Cotmanhay man Darren Cox, who went from homeless and attempting suicide to training to be a lay preacher, helping others through his church.
Penny Wiltshire, funding and development manager at Derventio, said: “We received four boxes absolutely brimming with a massive variety of treats from Shacklocks. They had gone to so much trouble. The donation of more than 50 eggs from Blue Arrow just blew us away too.
“They will be much enjoyed by our residents. When you’re short of money, the last thing you think about doing is going and buying yourself a bit of chocolate. By doing this at Derventio with generous support from companies like Shacklocks and Blue Arrow, we are showing our residents that we’re not just helping them out with giving them a roof over their head, we want to support and look after them and help them develop, and actually just give them a treat now and then!”
Derventio now manages 600 bed spaces of accommodation for single homeless people in Derbyshire, Nottinghamshire, Staffordshire, Warwickshire and Wiltshire, and helps more than 1,100 people a year by offering housing, support and specialist projects in order that they improve their health and wellbeing, increase resilience and prepare for independent living, learning and employment.
It is appealing to businesses to support its work by donating to support starter and moving on packs to help people move into its properties, and then move on at the end of their time with Derventio.
University of Derby and Rolls-Royce Submarines share in nuclear industry award
A partnership between the University of Derby and Rolls-Royce Submarines Ltd focused on developing nuclear skills and experts of the future has been recognised at a top industry awards ceremony.
Together, the organisations scooped ‘Employer & Training Provider Partnership Award’ at the UK Nuclear Skills Awards 2023 at the Kimpton Clocktower Hotel in Manchester.
The award recognises the strong partnership working between the two organisations, in particular the collaboration on the new Nuclear Skills Academy (NSA) in Derby, which opened its doors to 200 new apprentices in September 2022.
Developed at pace, the Academy is the first of its kind and aims to sustain nuclear capability within the UK’s submarines programme by creating a dedicated pipeline of talent at the start of their careers. It is supported by other industry experts, including the Nuclear Advanced Manufacturing Research Centre, the National College for Nuclear and Derby City Council, ensuring apprentices have access to the best courses and mentors throughout their apprenticeship.
The University has been instrumental in providing the nuclear apprenticeship pathways, and has worked to develop the facility and convert the building into classroom and digital learning spaces, along with industry-standard engineering workshops.
Professor Kathryn Mitchell, Vice-Chancellor at the University of Derby, said: “At Derby, we are committed to developing, training, empowering and supporting the next generation of game-changers, equipping them with the skills, experiences, resilience and curiosity to thrive and make a positive impact on the world.
“The Nuclear Skills Academy is a first of its kind, bringing together leading experts in industry and academia who are delivering skills for the future. We have a long-standing relationship with Rolls-Royce and are delighted that our approach to partnership working has been recognised through this award.”
Lee Warren, Engineering & Technology Director at Rolls-Royce, and a former apprentice himself, said: “The launch and delivery of our Nuclear Skills Academy has been a truly collaborative effort from the start. Receiving this prestigious award, around a year after we announced our intentions to launch a dedicated centre for nuclear education, is a testament to the strength of our partnerships and the pace with which we’ve brought it to life.
“The expertise and support from the University of Derby, and other NSA partners, have been invaluable and this is another step on the way to cementing Derby as the home of nuclear excellence.”
