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24/01/2011
Other UK News In Brief
VAT Rise Hitting Smaller Businesses
Almost a third of Britain's small and medium-sized companies say they will need more funding to cope with the government's increase in VAT sales tax, a survey showed today. The survey by Aldermore, one of a clutch of new banks to spring up in the wake of the credit crisis, found 35 percent of SMEs surveyed also feared the VAT rise would strain their cash flow. The Conservative-led coalition government increased VAT to 20 percent from 17.5 percent on January 4. Aldermore Chief Executive Philip Monks said: "The VAT rise will only add to the financial squeeze faced by many SMEs. With many of the big banks still reluctant to extend credit, the VAT rise could strain working capital to breaking point."
Domestic Heating Oil Supplies Addressed
With the recent severe weather causing significant concern about the domestic oil market and the liquefied petroleum gas market, Charles Hendry, Minister for Energy has released a statement. He said: “I fully recognise the difficulties people have experienced with rising prices and supply problems.” Underlying many of the complaints are concerns about the challenges of supplying oil and gas to rural communities and whether the current market structure provides the reassurance that consumers can get fuels for heating when needed at a price they can afford. The Office of Fair Trading is currently consulting on its annual plan to help determine its work programme for 2011/12. This includes proposals to prioritise markets impacted by high, rising and volatile commodity prices. The off-gas grid energy market is clearly one such affected market. Mr Hendry said: “In response to the Office of Fair Trading consultation and mindful of the various issues highlighted by the recent severe weather, I have written to the Office of Fair Trading asking it to bring forward its competition and consumer study into off-grid energy. In addition, I have asked the Office of Fair Trading if the study could explore the longer term consumer issues such as lifetime payback, consumer standards and labelling for alternative energy sources or supplies. Such a study would provide an independent assessment of the off-grid market and establish what further action may be necessary to ensure it works properly. I welcome the Office of Fair Trading's support for this area, and look forward to seeing its conclusions in advance of next winter so the lessons from this winter can be learned and any necessary changes made.”
Wigan Firm Sentenced After Worker's Finger Severed
A Wigan manufacturer has been sentenced after a worker lost part of his index finger in a drilling machine. The 46-year-old employee from Leigh was drilling holes through an iron bar when his right hand got caught in the drill. His index finger was severed below the first joint, his middle finger was badly cut, and his ring finger was dislocated. B&B Group Ltd was prosecuted by the Health and Safety Executive (HSE) following the incident at its factory on Dobson Parkway in Ince on 24 September 2009. The HSE investigation found the company failed to provide a machine guard around the drill bit to protect employees working on the equipment. The court heard the drill took 30 seconds to stop after being switched off. It was still rotating as the worker reached to turn it on again after moving the iron bar to drill another hole. The glove on his right hand got caught in the rotating mechanism and pulled his hand into the machine. B&B Group Ltd pleaded guilty to breaching the Provision and Use of Work Equipment Regulation. The company, of West Bridgewater Street in Leigh, was fined £12,500 and ordered to pay costs of £1,703 at Trafford Magistrates’ Court in Sale on 21 January 2011.
(BMcN/GK)
Almost a third of Britain's small and medium-sized companies say they will need more funding to cope with the government's increase in VAT sales tax, a survey showed today. The survey by Aldermore, one of a clutch of new banks to spring up in the wake of the credit crisis, found 35 percent of SMEs surveyed also feared the VAT rise would strain their cash flow. The Conservative-led coalition government increased VAT to 20 percent from 17.5 percent on January 4. Aldermore Chief Executive Philip Monks said: "The VAT rise will only add to the financial squeeze faced by many SMEs. With many of the big banks still reluctant to extend credit, the VAT rise could strain working capital to breaking point."
Domestic Heating Oil Supplies Addressed
With the recent severe weather causing significant concern about the domestic oil market and the liquefied petroleum gas market, Charles Hendry, Minister for Energy has released a statement. He said: “I fully recognise the difficulties people have experienced with rising prices and supply problems.” Underlying many of the complaints are concerns about the challenges of supplying oil and gas to rural communities and whether the current market structure provides the reassurance that consumers can get fuels for heating when needed at a price they can afford. The Office of Fair Trading is currently consulting on its annual plan to help determine its work programme for 2011/12. This includes proposals to prioritise markets impacted by high, rising and volatile commodity prices. The off-gas grid energy market is clearly one such affected market. Mr Hendry said: “In response to the Office of Fair Trading consultation and mindful of the various issues highlighted by the recent severe weather, I have written to the Office of Fair Trading asking it to bring forward its competition and consumer study into off-grid energy. In addition, I have asked the Office of Fair Trading if the study could explore the longer term consumer issues such as lifetime payback, consumer standards and labelling for alternative energy sources or supplies. Such a study would provide an independent assessment of the off-grid market and establish what further action may be necessary to ensure it works properly. I welcome the Office of Fair Trading's support for this area, and look forward to seeing its conclusions in advance of next winter so the lessons from this winter can be learned and any necessary changes made.”
Wigan Firm Sentenced After Worker's Finger Severed
A Wigan manufacturer has been sentenced after a worker lost part of his index finger in a drilling machine. The 46-year-old employee from Leigh was drilling holes through an iron bar when his right hand got caught in the drill. His index finger was severed below the first joint, his middle finger was badly cut, and his ring finger was dislocated. B&B Group Ltd was prosecuted by the Health and Safety Executive (HSE) following the incident at its factory on Dobson Parkway in Ince on 24 September 2009. The HSE investigation found the company failed to provide a machine guard around the drill bit to protect employees working on the equipment. The court heard the drill took 30 seconds to stop after being switched off. It was still rotating as the worker reached to turn it on again after moving the iron bar to drill another hole. The glove on his right hand got caught in the rotating mechanism and pulled his hand into the machine. B&B Group Ltd pleaded guilty to breaching the Provision and Use of Work Equipment Regulation. The company, of West Bridgewater Street in Leigh, was fined £12,500 and ordered to pay costs of £1,703 at Trafford Magistrates’ Court in Sale on 21 January 2011.
(BMcN/GK)
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16 December 2010
Forum Urges Smaller Firms 'Prepare For VAT Rise'
A business support organisation is warning firms that the January VAT rise could leave them with a new year headache if they fail to prepare properly. All VAT registered traders will be affected by the increase, which will see VAT rise from its current 17.5% rate to 20% at midnight on January 4.
Forum Urges Smaller Firms 'Prepare For VAT Rise'
A business support organisation is warning firms that the January VAT rise could leave them with a new year headache if they fail to prepare properly. All VAT registered traders will be affected by the increase, which will see VAT rise from its current 17.5% rate to 20% at midnight on January 4.
03 June 2003
Tribunal rules against high street tax avoidance scheme
The independent VAT Tribunal today ruled in Customs favour to stop large, high street retailers operating a "major VAT avoidance scheme" and gaining an "unfair competitive advantage" over their smaller competitors. HM Customs and Excise said today that many major retailers have been trying to cut the amount of VAT they pay.
Tribunal rules against high street tax avoidance scheme
The independent VAT Tribunal today ruled in Customs favour to stop large, high street retailers operating a "major VAT avoidance scheme" and gaining an "unfair competitive advantage" over their smaller competitors. HM Customs and Excise said today that many major retailers have been trying to cut the amount of VAT they pay.
30 January 2013
Petrol Market 'Working Well' - OFT
The Office of Fair Trading (OFT) has said little action is needed, following a study looking at the UK petrol and diesel market. The report states: "The evidence gathered by the OFT suggests that at a national level, competition is working well in the UK road fuel sector.
Petrol Market 'Working Well' - OFT
The Office of Fair Trading (OFT) has said little action is needed, following a study looking at the UK petrol and diesel market. The report states: "The evidence gathered by the OFT suggests that at a national level, competition is working well in the UK road fuel sector.
15 October 2014
UK Unemployment At Six Year Low
UK unemployment has fallen below two million for the first since 2008, the latest figures from the Office for National Statistics (ONS) reveal. In the three months to August this year unemployment fell by 154,000, the ONS figures showing that the rate now stands at 1.97 million, or 6%.
UK Unemployment At Six Year Low
UK unemployment has fallen below two million for the first since 2008, the latest figures from the Office for National Statistics (ONS) reveal. In the three months to August this year unemployment fell by 154,000, the ONS figures showing that the rate now stands at 1.97 million, or 6%.
11 March 2014
Station And Fire Engine Destroyed In Fire
Fire has destroyed a Norfolk fire station and fire engine in an overnight blaze. The fire was reported by a passing police patrol in Downham Market, Norfolk, just after midnight. It is understood that the fire started in a bay where the stations engine was stored.
Station And Fire Engine Destroyed In Fire
Fire has destroyed a Norfolk fire station and fire engine in an overnight blaze. The fire was reported by a passing police patrol in Downham Market, Norfolk, just after midnight. It is understood that the fire started in a bay where the stations engine was stored.
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Northern Ireland WeatherThis Evening and Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
