You’ve just started your new business as a self-employed professional or sole trader. You’re making money and receiving an income but how do you pay Income Tax and National Insurance? The answer is Self Assessment and submitting a tax return once a year. Jashoda Pindoria from HM Revenue and Customs (HMRC) explains what Read more
Boost for UK growth as start-up investment schemes extended The Enterprise Investment Scheme (EIS) and the Venture Capital Trust (VCT) scheme have now been extended by ten years to 5 April 2035. Government extends two leading investment schemes 10 years from April 2025 to April 2035 as part of its relentless pursuit of growth. Extensions Read more
Self-Assessment: the evolution For many self-employed workers, Self-Assessment has always been the way they declare their tax liabilities. However, Self-Assessment has only been in place since 1996 and was created to streamline the tax collection process for those with any untaxed income who need to declare and pay tax on it. Back then, the online Read more
27 August 2024 Report shows beauty industry grows by 11% in 2023 A recent report has shown that the beauty industry grew by 11% last year, this is a promising sign following external factors such as Brexit, Covid and the cost of living crisis. The Value of Beauty Report compiled by the British Beauty Council Read more
20 August 2024 Latest ONS Retail Sales Index figures Kris Hamer, Director of Insight at the British Retail Consortium, commented on the recent ONS Retail Sales Index, which showed positive growth driven by warmer weather and increased holiday spending. Sales rose by 2.2% in value and 1.4% in volume. Despite the ongoing impact of Read more
13 August 2024 Campaigning for you – Ministerial engagement Since the general election, NHBF has written to key Ministers in the Department for Business & Trade, HM Treasury and the Department for Education. We wrote to Gareth Thomas MP the Parliamentary Under Secretary of State responsible for Services, Small Business and Exports in DBT, welcoming Read more
Interest rates cut by the Bank of England In a closely contested decision, interest rates were reduced from 5.25% to 5% on Thursday by the Bank of England, marking the first cut since the pandemic’s beginning in March 2020. Interest rates determine the cost of borrowing set by High Street banks and money lenders for Read more
NHBF announces quarterly State of the Industry survey results The latest National Hair & Beauty Federation quarterly survey results show that the sector recovery has been slow and steady over the last 18 months. Sector businesses are still battling through the challenging economic climate including responding to significant wage rate rises between 10-20% in April Read more
Grooved is a manifestation of creativity and innovation brought to life by collaborative efforts. Aspiring to push the boundaries of hairstyling and fashion, using the legacy of classic styles while infusing them with a futuristic twist, creating a harmonious blend. Read more
Phenix Salon Suites, the pioneering boutique suite concept for independent salon professionals, is proud to announce the launch of the Phenix Grant, an innovative competition designed to discover and support new talent within the hair …
O&M has announced Tia Lambourn as a UK Brand Ambassador and CØR.creator. Tia is owner of Bay Studios Hair salon in Derby, and has amassed over 100k followers on Instagram thanks to her mesmerising blonding …
Solstice Hair Studio, a leading co-working salon in Prestwich, Manchester, dedicated to providing a supportive and collaborative environment for hair professionals, is delighted to announce the launch of its innovative new Graduate Programme. Aimed at …