Energy Bill Relief Scheme launched
The Business Secretary Jacob Rees-Mogg has announced the launch of the new Energy Bill Relief Scheme to help cut energy bills in the non-domestic sector. The new scheme will cover all non-domestic energy customers, including UK businesses, the voluntary sector, for example charities and the public sector such as schools and hospitals.
This new support measure will apply to fixed contracts agreed on or after 1 April 2022, and to deemed, variable, flexible tariffs and contracts. It will apply to
Transfer of business as a going concern
The transfer of a business as a going concern (TOGC) rules concern the VAT liability on the sale of a business. Normally the sale of the assets of a VAT registered or VAT registerable business will be subject to VAT at the appropriate rate.
Where the sale of a business includes assets and meets certain conditions the sale will be categorised as a TOGC. A TOGC is defined as ‘neither a supply of goods nor a supply of services’ and is therefore outside the scope of VAT. Under the TOGC rules no VAT
Creditor bankruptcy and liquidation cost changes
The Insolvency Service is a government agency that provides services to those affected by financial distress or failure. The Insolvency Service operates as an executive agency of the Department of Business, Energy and Industrial Strategy (BEIS).
The Insolvency Service has announced changes to the deposits paid to initiate creditor bankruptcies and compulsory liquidations.
The petition deposit, the amount that needs to be paid up-front to seek an order, will be increasing in all cases where a
Companies House new WebFiling account
Companies House has introduced a new WebFiling account. The new account represents a first step in creating a single sign-in across all Companies House services and a continued push to becoming a fully digital organisation.
The new WebFiling account also includes new benefits and options for users that include the following:
multi-factor authentication;
the ability to link your company to your WebFiling account to give you more control over your filings;
the ability to digitally authorise
The Customs Declaration Service
Businesses importing goods must submit import declarations from 1 October 2022 using the Customs Declaration Service (CDS). The CDS is a customs IT platform designed to modernise the process for completing customs declarations for businesses that import or export goods from and to the UK.
A phased launch of the service started in August 2018. The CDS is used for making import and export declarations when moving goods into and out of the UK. The closure of the old Customs Handling of Import and
Land Registry Property Alerts
HM Land Registry’s property alert service is a free service to help protect property owners from fraud. The counter-fraud security measure was introduced by the Land Registry to monitor registered properties where there is a concern that it might be subject to a fraudulent sale or mortgage. The alert service can be used to monitor up to ten properties. It is a particularly useful fraud warning tool if you have an unencumbered property.
The property alert service can be used to monitor any
New Chancellor’s approach to economic priorities
The new Chancellor, Kwasi Kwarteng, recently met in London with various market and city leaders to set out the Prime Minister’s new, pro-growth economic approach.
The new approach focuses on providing immediate support for families and businesses to cope with soaring inflation and rising fuel costs whilst at the same time supporting the economy to grow in a fiscally sustainable way.
At the meeting, the Chancellor also underlined his support for the Bank of England’s moves to keep inflation