Tax planning after the Spring Budget - key takeaways
As Rishi Sunak stood up to speak on March 3, it felt as though all the headline announcements for the Spring Budget had been leaked beforehand. However, the Chancellor lived up to his previous statements that he would be honest with the public about where the country is, having faced the biggest economic crisis outside or wartime. During his 50-minute speech, Mr Sunak reiterated that the level of borrowing this year and last has been unprecedented at 17.3% and 10.1% of GDP respectively. However, with the
Spring Budget is good news for businesses in Devon and Cornwall
The Government has revealed a number of new measures and extensions to existing support packages as part of the UK's long-term economic recovery plan. Rishi Sunak's Spring Budget has been built around a three-part plan for the economy, including protecting jobs and businesses, shoring up public finances and rebuilding the economy. Today's announcement shows that the Chancellor has listened to the concerns of the business community and delivered a budget that should help firms to survive and recover from
Entrepreneur shares the secret of explosive business growth in new book launch
Entrepreneur and business mentor Benn Davis, CEO of Devon-based Bigwave Marketing, has announced the launch of his first book, aimed at business owners with a turnover of between £1m and £20m who want to grow exponentially. Titled 'Annihilate your competition', the 12-step guide will help business owners achieve explosive growth in achieving higher levels of sales, revenue, or profit. Bigwave Marketing, one of the leading creative agencies in the South West, is a fast-track business growth and digital
Womble Bond Dickinson accelerates COVID-19 relief effort in Plymouth
The Plymouth office at law firm Womble Bond Dickinson (WBD) has pledged its support to a number of organisations working in the community to tackle the impact of the pandemic, including foodbanks, homeless charities and schools. This follows WBD's fundraising and volunteering efforts last year as part of its COVID-19 emergency response which saw thousands of pounds donated to a wide range of charities around Plymouth. The firm has continued its support for organisations working to tackle food poverty,
Free Plymouth Supplier Directory is officially open for business
Plymouth City Council is launching a one-stop online shop to encourage local businesses to find local suppliers and to help keep the pounds in Plymouth. The directory is a free online platform that aims to bring local business buyers and suppliers together to increase the chance of spending in the city so that Plymouth, its businesses and its residents benefit. Council leader Tudor Evans OBE said: "As a council, we have massively stepped up our efforts to buy local and want to make it as easy as possible
Cash remains top concern for lockdown-stricken firms
Results from the latest British Chambers of Commerce survey on the impact of Coronavirus on businesses show they have been pushed to the brink by the effect of multiple lockdowns. Among the sobering findings from the survey of more than 1,100 businesses are:Three in every five firms (61%) have seen their revenue from UK customers fall in the last three monthsAlmost a third (31%) of business-to-consumer (B2C) firms say they will run out of cash in the next three monthsA quarter of survey respondents (25%)
.jpg)
Will the Spring Budget hold any surprises for the region’s businesses?
Mark Tibbert, Partner and tax specialist at Thomas Westcott Chartered Accountants, considers what the Chancellor might announce in the Spring Budget on 3 March. With around three weeks to go until the Chancellor stands up to present what will be his second Spring Budget, what can we expect him to say? There has been much debate over what he should or might do, but what we can say is only the Chancellor currently knows. Speculation on CGT and corporation tax At the start of the year, there was increasing
Freezone bid could be worth millions to Devon economy
Plymouth City Council has joined forces with neighbours at Devon County and South Hams District Council in a bid to unlock £35 million of funding for the area. The Freeport bid, which was submitted to the government on Friday, would see the area become one of 10 zones around the country to benefit from import and export tax reliefs to help drive jobs, growth, and innovation. A Plymouth and South Devon freezone would create space for businesses to import goods and materials, add value to them (by
Go the distance for St Luke’s while staying close to home
St Luke’s Hospice Plymouth is sending out a rallying call to the community to take on the challenge of quite literally going the extra mile to support its vital service while staying safe, close to home. The compassionate care and support St Luke’s provides for terminally-ill people across Plymouth and surrounding areas is given at no cost to them or their families, but it does not come cheap to the charity. The extra pressure of looking after more people throughout the pandemic – coupled with a decline
Riley Chartered Accountants joins Thomas Westcott team in Plymouth
Thomas Westcott Chartered Accountants has announced a further investment in its regional business by welcoming longstanding Plymouth-based accountancy practice Riley Chartered Accountants into the firm. The leading South West firm was announced as an official Patron of Devon & Plymouth Chamber of Commerce in December 2020. The latest move is part of Thomas Westcott's continued growth across the South West and the ongoing success of its Plymouth office, which has grown rapidly since the merger with
Listen to our new Chamber podcast now, with Fresh Air Studios
The Devon & Plymouth Chamber has joined forces with Fresh Air Studios in Plymouth to launch a brand new podcast for the South West business community and beyond. 'In Conversation With...' will feature personalities and business owners from across the region, with each episode containing two interviews. In 'Chamber Chat', podcast host and Chamber CEO Stuart Elford will chat with well-known local personalities such as Luke Goss, David FitzGerald and Luke Pollard MP, to find out more about them as people and
Chamber hits back at Chancellor's Kickstart Gateway comments
Following the Chancellor’s removal of the minimum placement criteria for small business on Friday, the Devon & Plymouth Chamber has learnt that this action was taken in response to the Treasury’s concern over providers who were failing to pass on the £1,500 training grant to employers and gateways being slow to respond to small business. For each placement, gateway providers receive £300 to support administrative costs, while employers are supposed to receive £1,500 per placement for help with setup
Thomas Westcott announced as Chamber Patrons
Leading South West firm Thomas Westcott Chartered Accountants has been announced as an official Patron of Devon & Plymouth Chamber of Commerce. The independent accountancy practice has 17 offices across Devon and Somerset and has played a prominent role in helping businesses improve their financial resilience in the face of the Covid-19 pandemic. Thomas Westcott’s position as a Chamber Patron reflects its status as a regional leader and a supporter of thousands of businesses in the South West. Patrons of
How Businesses can Take Back Control of their Outgoings
National restrictions continue to significantly affect businesses across the country. While non-essential retail, hospitality and leisure businesses have had to temporarily close during lockdown, those businesses which are still operating will also have been heavily affected by the pandemic. As such, there is an enormous pressure on businesses’ financial situation. They may be juggling reduced income whilst navigating new income streams such as various government support measures. Businesses might be
Grants for Plymouth businesses closed due to coronavirus
Plymouth businesses that have been forced to close due to the national COVID-19 restrictions will now be able to apply for financial support through Plymouth City Council. The Government’s Local Restrictions Support Grant (LRSG) scheme is available to support businesses that have been legally required to close and occupy a rateable property. Eligible businesses can claim the following grants, based on their rateable value:For properties with a rateable value of £15,000 or under, grants to be £1,334 per
Announcing our Chamber Awards finalists
We’re proud to reveal our shortlist for the Devon & Plymouth Chamber of Commerce Awards 2020. Each of the 20 businesses and individuals named below are now invited to our Chamber Awards ceremony later this year to recognise and promote the best of what businesses in Devon have to offer. Stuart Elford, CEO of Devon & Plymouth Chamber, said: “Thank you so much to each and every member who submitted an entry for this year’s Devon & Plymouth Chamber Awards. “We know how incredibly difficult the last
Resurgam: jobs, skills and pounds for Plymouth
Keeping the pounds in Plymouth, skills development and a pipeline of construction that will keep people in work during a critical time for the city’s economy - those are the first projects under the spotlight as part of Resurgam - the city’s economic response to the challenges presented by Covid-19. The Council’s Cabinet meeting was given its first update of Resurgam - a plan to reduce the impact of Covid-19 and to deliver a more equal, sustainable and prosperous city. Council leader Tudor Evans said:
Resurgam! Plymouth's economy to rise again
Council leader Tudor Evans has pledged to lead from the front the city’s economic recovery programme out of the COVID-19 lockdown. At Cabinet today (Tuesday 5 May) he will announce plans to help Plymouth’s businesses get back to work through Resurgam - a programme to oversee recovery across all sectors. The name is Latin for ‘I shall rise again’ and the word became part of Plymouth’s history when it appeared on a wooden sign over the bombed out St Andrew's Church during the Blitz. Councillor Evans
Shop 4 Plymouth: New online marketplace links you with local retailers
Shop local, support independent retailers and buy everything you need – from food and drink to gifts from the safety of your home. A new online marketplace is making it easy to do just that. Shop 4 Plymouth showcases local traders that are open and following Government guidelines or which have adapted to offer a delivery service instead. The initiative has been set up by the Plymouth City Centre Company and Plymouth City Council, with support from Plymouth Waterfront Partnership, in response to the
.jpg){kind=logo}
Call to plug the gap for support for small business
Plymouth’s leading business support organisations are joining forces with the Council to campaign for small businesses that have missed out on vital Government support. A letter is being sent today to the chair of the Local Government Association, Councillor James Jamieson asking for help to ‘plug the gaps’ for support for small businesses. In Plymouth around 400 businesses - employing over 3,000 people - are still without a financial lifeline because they don’t fit the criteria for one of the grant
New Title Goes here
The Heart of the South Local Enterprise Partnership is currently consulting on its document entitled ‘Stepping up to the Challenge.’ This is a draft Productivity Strategy for the counties of Devon and Somerset. Our area compares unfavourably with most in the county in terms of the volume of the work achieved, per hour, spend on innovation, number of companies which export and overall how competitive our economy is. The strategy aims to double the size of the local economy by 2030 and improve our relative
NEWS FEED
Sign up for updates
Click the link below and enter your email address to join our mailing list and receive all the latest Chamber news.
