June 2024 Newsletter from Avenue Business Services
Colin Bielckus
Outsourced FD, mentor and business coach at The Outsourced Finance Director
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Following the Prime Minister's announcement of a General Election on 4 July, the Confederation of British Industry (CBI) has stated that the next government needs to partner with business to help boost the UK economy.
Meanwhile, a report published by the National Audit Office (NAO) recently revealed that taxpayers spent the equivalent of 800 years on hold to HMRC. Funding issues and a drive to reduce costs have led to poor call-handling performance, the NAO found.
Next government will need to partner with business
Whichever party forms the next UK government will need to partner with business to fire up the UK economy, said the CBI.
Prime Minister Rishi Sunak recently called a General Election for 4 July, firing the starting gun on six weeks of campaigning.
The UK's business groups responded to the announcement with their agendas for the next government.
Rain Newton-Smith, CBI Chief Executive, said: 'This General Election needs to be about how our political leaders will get the UK economy firing on all cylinders and deliver sustainable growth for the benefit of our society. Read More...
Taxpayers spend total of 800 years waiting to speak to HMRC
UK taxpayers spent the equivalent of 800 years on hold to HMRC in 2022/23, according to a report published by the NAO.
The report found that funding pressures, job cuts and a push to reduce costs by encouraging people to manage their tax affairs online had all led to a poor call-handling performance by HMRC.
The average time spent waiting on the phone to speak to an adviser in the 11 months to February 2024 was almost 23 minutes - well above the five minutes recorded in 2018/19.
Altogether taxpayers spent 7 million hours, or 798 years, on hold to HMRC in 2022/23, according to the report.
Customer service is in a 'declining spiral' at HMRC, which had not met its goals for responding to taxpayer correspondence or telephone calls for several years, the NAO added. Read More...
ESSENTIAL TAX DATES FOR JUNE
1?June New Advisory Fuel Rates (AFR) for company car users apply from today.
领英推荐
19?June PAYE, Student loan and CIS deductions are due for the month to 5 June 2024.
30?June End of CT61 quarterly period.
QUOTE OF THE MONTH
'UK firms need to see a long-term vision for the UK economy from politicians, including action on making trade easier, especially with the EU.'
David Bharier, Head of Research at the BCC, commenting on inflation dropping to its lowest level in three years.
ON OUR WEBSITE
A wealth of resources for businesses With topics ranging from the Bribery Act 2010 to the National Minimum Wage and the National Living Wage, the Your Business section of our site is a hub of essential information.
Useful information for individuals For a comprehensive bank of guides covering Venture Capital Trusts, the dividend nil-rate and much more, please visit the Your Money area of our website.
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