Welcome to our round up of the latest business and Covid-19 news for our clients. Please contact us if you want to talk about how these updates affect your business. We are here to support you!
Latest UK Economic Figures
According to the Office for National Statistics (ONS) latest data average pay in the UK jumped 7.4% and job vacancies hit a record 953,000 in the three months to July.
Early estimates for July 2021 indicate that the number of payrolled employees rose by 2.0% compared with July 2020, which is a rise of 576,000 employees but the number of payrolled employees is still down by 0.7% since February 2020, a fall of 201,000.
These figures show employment is in robust recovery as the economy reopens and the furlough scheme starts to be phased out. This is welcome news for business owners and hopefully we can all look towards the Autumn with more confidence.
Temporary Protection for more Applicants to the Settlement Scheme
EEA citizens and their family members who apply late to the EU Settlement Scheme (EUSS) will have their rights protected as the Home Office continues to support those wanting to stay in the UK.
The Home Office has put in place comprehensive arrangements to enable those with reasonable grounds for missing the deadline to apply to the EUSS.
The UK Government has informed the European Commission and is working to implement this generous approach to provide further clarity to EU citizens.
Further details will be published in due course.
In the meantime, employers and landlords are advised to get in touch with the Employer and Landlord Checking Services if they have a prospective employee or tenant who has confirmation of a late application to the EUSS.
Cyber Runway – Support Scheme to Help Grow the Cyber Sector
Innovative cyber start-ups, small businesses and scaleups could benefit from a new scheme to help them launch and grow their businesses.
Cyber Runway will see entrepreneurs and businesses across the UK get access to business masterclasses, mentoring, product development support, networking events and backing to trade internationally and secure investment so they can turn their ideas into commercial successes.
The Cyber Runway programme is funded by the Department for Digital, Culture, Media and Sport (DCMS) and delivered by Plexal in partnership with CyLon, Deloitte and The Centre for Secure Information Technologies (CSIT). The programme aims to support at least 160 organisations and companies over the course of six months.
Companies participating in DCMS’s cyber growth initiatives in the past have, on average, more than tripled their revenues year on year.
Expressions of interest from applicants, mentors and investors can now be made.
Employers ‘named and shamed’ for Paying Less than Minimum Wage
191 businesses were recently named for breaking national minimum wage law.
Following investigations by Her Majesty’s Revenue and Customs, a total of £2.1 million was found to be owed to over 34,000 workers.
The breaches took place between 2011 and 2018. Named employers have since been made to pay back what they owed, and were fined an additional £3.2 million, showing it is not acceptable to underpay workers.
The UK government recently gave millions a pay rise, by increasing National Living Wage and National Minimum Wage rates in April 2021. The rise means someone working full time on the National Living Wage will be taking home £5,400 more annually than they were in 2010. Every single UK worker is entitled to the National Minimum Wage, no matter their age or profession.
Whilst not all minimum wage underpayments are intentional, it has always been the responsibility of all employers to abide by the law. Clear guidance is available on gov.uk, which all employers should check.
Minimum wage breaches can occur when workers are being paid on or just above the minimum wage rate, and then have deductions from their pay for uniform or accommodation.
The employers named today previously underpaid workers in the following ways:
- 47% wrongly deducted pay from workers’ wages, including for uniform and expenses
- 30% failed to pay workers for all the time they had worked, such as when they worked overtime
- 19% paid the incorrect apprenticeship rate
Employer Webinars from the Equality Commission
With their employer training programme currently suspended due to the ongoing coronavirus pandemic, the Equality Commission are now providing a number of training sessions as online webinars. These will focus on a number of issues for employers. Topics include an introduction to understanding equality in the workplace, promoting sex equality, people with disabilities, employees with mental health and age equality.
See: Employer webinars from the Equality Commission (nibusinessinfo.co.uk)
Grants of up to £15,000 Available to Social Entrepreneurs
Grants of up to £15,000 plus business support are available to social entrepreneurs that are looking to start or grow an existing social venture; the funding is being made available through the UnLtd.
UnLtd are committed to providing 50% of their awards to Black, Asian and minority ethnic social entrepreneurs, and/or disabled social entrepreneurs. To be eligible applicants need to be aged 16 or over, living in the UK and are looking to fulfil a clear social need and demand.
The closing date for this funding round is the 30 September 2021.
HMRC Employer Bulletin August 2021
The August edition of the Employer Bulletin covering HMRC updates and guidance to support employers and payroll agents was released last week. There is information on:
- UK Transition and the changes to right to work checks from 1 July 2021
- COVID-19 information with updates on Coronavirus Job Retention Scheme
- tax updates and changes to guidance, including updates on the off-payroll working rules support and P11D(b) penalty warning letter
- general information and support.
Investor Funding Opportunity for NI Businesses
Catalyst’s Inbound Investors is looking for companies to apply to pitch and meet potential funders on a matched basis. Suitable companies might be:
- Tech companies raising or intending to raise £500,000 or more. Note you do not need to be raising right now.
- Early stage companies suitable for specialised SEIS funds ie typically tech aiming to raise £150,000 – £300,000 and ideally pre-approved for SEIS.
- Companies with significant revenue looking for growth funding, either now or at a later date.
The range of funders will include generalist, specialist, early and later stage investors. They will be venture capital companies, syndicates, family offices, angel investors and specialist debt or venture debt companies. Some will be keen to invest now, but many will be pleased to establish early relationships which will grow into investment over time.
Some companies will be selected to give short pitches and all successful applicants will have streamed and matched one-to-one meetings with investors. Summary information on successful companies will be shared in advance with all incoming investors.
This Inbound Investors meet-up will be a physical event on 19 – 20 October 2021. It may be extended virtually with further funders who are interested but are unable to attend in person.
The deadline to apply is Friday 10th September.
Digital Growth Programme
With digital marketing and immersive technology becoming an important tool for businesses in today’s world for boosting sales, generating leads and reaching new customers, businesses need as much knowledge and experience as they can in this field. The Digital Growth Programme is designed to give businesses advice and support from experts in the industry, between 1:1 mentoring and workshops, where they can then develop their digital skills within their industry. This programme aims to enhance digital capabilities and develop knowledge in new and existing platforms including; social media management and advertising, SEO, PPC and website optimisation as well as delivering new customer experiences through AR, VR and immersive technology.
See: Digital Growth Programme – NMD Business
Help to Grow: Digital
Help to Grow: Digital is a new UK-wide scheme to help small and medium size businesses (SMEs) adopt digital technologies that are proven to increase their productivity.
The scheme will offer SMEs free and impartial advice on how technology can help their business.
An online platform will help them to:
- identify their digital technology needs
- assess technology purchasing options
- implement new technologies in their operations
The scheme will also offer eligible SMEs a grant token worth up to £5,000 to cover up to half of the costs of pre-approved, digital technology solutions.
The Help to Grow: Digital scheme will be launched in the Autumn. It will run for 3 years, taking a phased approach over a number of waves. Each wave will provide the opportunity to roll out new technologies and functionalities for SMEs and vendors.
COVID-19 Government Support News
Below is our weekly roundup of changes to government support information generally and for businesses, employers and the self-employed.
Coronavirus Job Retention Scheme (CJRS) Update
The Coronavirus Job Retention Scheme has been extended until 30 September 2021. For claims relating to August and September 2021, the government will pay 60% of wages up to a maximum cap of £1,875 for the hours the employee is on furlough.
Claims for furlough days in August 2021 must be made by 14 September 2021.
Claims for September must be submitted by 14 October 2021 and any amendments must be made by 28 October 2021.
Please talk to us if you have any questions regarding the CJRS.
Self-Employment Income Support Scheme (SEISS) Update
HMRC has released guidance entitled “Check if you need to change your Self-Assessment return for SEISS”:
You need to check your Self-Assessment return if you have:
- already submitted your 2020 to 2021 Self-Assessment tax return online
- claimed a SEISS grant before 6 April 2021
HMRC may have made an adjustment to your return if:
- the amount of the SEISS payments put in the SEISS box does not match HMRC records
- there was no SEISS amount entered
- you did not submit a Self-Employment or partnership page (SA103 or SA104) and received SEISS payments
Payments from the first, second and third SEISS grants (received on or before 5 April 2021) should have been included on your 2020 to 2021 return in the box for Self-Employment Income Support Scheme grants. These can be found:
- on page 2 of the ‘other tax adjustments’ section, within the Self Employment (full) page (SA103F) – this is Box 70.1 on the paper return
- in the ‘other tax adjustments’ section of the Self Employment (short) page (SA103S) – this is Box 27.1 on the paper return
- on page 2 of the ‘trading or professional profits’ section of the partnership page (SA104) – this is Box 9.1 on the paper return
- at section 3.10A of the SA200 tax return
HMRC are correcting returns where SEISS grants have been reported incorrectly.
If HMRC have corrected your return, you must check whether you used the correct boxes or not.
Please contact us if you need help in completing your Self-assessment return.
The closing date for applications is today, 23 August 2021.
The Reimagine project grants aim to help organisations such as UK public museums, galleries, historic houses, archives and libraries, agencies, and festivals as they reimagine their activities following the pandemic. They offer support to build expertise, capacity and connections within and outside the sector.
These grants are not intended to provide ‘emergency’ or ‘recovery’ funding and the scheme is designed to exist within and address the present, challenging environment, and to prepare organisations for the future. The project offers grants of £5,000 up to £50,000.
The aim is to fund projects that meet both aims and address at least one of the priority areas for support:
Government-backed Insurance Scheme to Give Support to Events Industry
The live events sector is set to get a boost with a government-backed insurance scheme worth over £750 million, which will help them plan events with confidence through to next year, the Chancellor Rishi Sunak announced last week.
As the economy reopens with the lifting of Covid restrictions, getting the right kind of insurance is acting as a barrier for some events organisers so the government has partnered with Lloyd’s to deliver the Live Events Reinsurance Scheme as part of the Plan for Jobs. The scheme will see the government act as a ‘reinsurer’ – stepping in with a guarantee to make sure insurers can offer the products events companies need.
Made Smarter Innovation Alley 2021
NI businesses are invited to apply for an opportunity to exhibit for free and in-person on Innovation Alley, part of Smart Factory Expo which is running alongside Digital Manufacturing Week in Liverpool this November.
Made Smarter Innovation Alley and Emerging Technology Pavilion is a showcase of all the new and developing technologies that will change the landscape of manufacturing over the next five to ten years. It is a great chance for businesses to meet, make new connections, undertake research and share ideas, and for some, to showcase their game-changing innovations targeting the UK’s manufacturing sector.
Knowledge Transfer Network (KTN), Innovate UK and the organiser, The Manufacturer, will enable 50 of the UK’s most innovative businesses to exhibit on Innovation Alley free of charge on 10 and 11 November 2021.
See: Made Smarter Emerging Tech Show 2021 Application (ktn-uk.org)
Covid-19: Business Closures and Restrictions in Northern Ireland
Health protection measures to help reduce the rate of transmission of COVID-19 place restrictions on businesses and services. The current coronavirus restrictions are law through regulation, while others are guidance. Everyone is legally required to comply with the regulations.
The webpage below is an overview of what you can and cannot do. It is not a definitive statement of the law and should not be relied upon as such.
- You should continue to work from home where you can.
- Those who cannot work from home, for example, workers in food production, construction, manufacturing, logistics or distribution can continue to go to work.
- Employers should take every possible step to facilitate their employees working from home. They must also take all reasonable steps to safeguard the health, safety and well-being of employees during the COVID-19 emergency, whether working from home or in the workplace.
- Employers that require staff to come into the workplace must complete a mandatory risk assessment. Some employers may have introduced regularCOVID-19 testing for employees as part of these measures.
- All businesses and venues that are in operation should follow guidelines on working safely.