Insights

National Minimum Wage and National Living Wage

National Minimum Wage and National Living Wage

The rates for the National Living Wage (for those aged 23 and over) and the National Minimum Wage (for those of at least school leaving age) will increase on 1 April. The new rates are: 23 and over 21 to 22 18 to 20 Under 18 Apprentice April 2022 (current rate) £9.50...

Business Pragmatism Can Withstand the Challenges of 2023

Business Pragmatism Can Withstand the Challenges of 2023

By Stephen McConnell, Business Services Partner at Baker Tilly Mooney Moore   We ended 2022 much like the previous two years, with a bleak economic outlook and hopes that the busy Christmas period will be enough to see businesses through even the beginning of 2023....

What’s On The Horizon For 2023?

What’s On The Horizon For 2023?

2023 begins with a bleak economic outlook after the UK entered an official recession in the third quarter of last year. Though the decline is expected to be shallow, latest estimates show that it will continue for much of the year. It is to this backdrop that...

New VAT Penalty Regime Starts from 1 January

New VAT Penalty Regime Starts from 1 January

HMRC is introducing a new VAT penalty regime from 1 January 2023, replacing the current default surcharge with a fixed rate, points based system for late VAT submissions and payments. The changes will affect businesses submitting VAT returns for accounting periods...

The Autumn Statement: Reaction

The Autumn Statement: Reaction

Reacting to the Chancellor’s Autumn Statement on 17th November, Head of Tax Angela Keery said: "The Autumn Statement delivered today is confirmation of the bleak outlook we face both in terms of business finances and our personal, take-home pay packets. Individuals...

Anyone Ready for a Christmas Party?

Anyone Ready for a Christmas Party?

It’s been another busy year for us all. From the after-effects of the pandemic to increasing costs and inflation, few will have escaped the challenges of 2022. Yet an important part of the business calendar is the Christmas party, which is a welcome opportunity to...

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