Sirius Bulletin - 17th January 2022
This bulletin provides a summary of topical news, announcements and policy developments affecting business across the UK.
Self-assessment
Taxpayers given more time to file and pay
HMRC has announced that late-filing and late-payment penalties for self-assessment taxpayers have been waived for one month, for 2020/21 tax returns and payment of any tax due.
Read more about the deadlines at: www.gov.uk/government/news/hmrc-gives-self-assessment-taxpayers-more-time-to-ease-covid-19-pressures
Books
Sales highest in a decade
More than 212 million print books were sold in 2021, the highest figure of the last decade. Fiction was up 20%, driven by a 49% increase in the romance genre and a 23% increase in science fiction and fantasy. In non-fiction, the mind, body, spirit category saw the biggest growth, up by 50%.
Read more about the figures at: www.theguardian.com/books/2022/jan/11/uk-book-sa les-in-2021-highest-in-a-decade
Health and safety
PPE responsibilities extended
From April 2022, employers will be obliged to provide personal protective equipment (PPE) to workers, as well as employees, who may be exposed to health and safety risks at work. Organisations will need to undertake a risk assessment to establish whether a worker requires PPE to carry out their work tasks.
Read more about the change at: www.personneltoday.com/hr/employers-ppe-responsibilities-extended-to-workers-from-april
Logistics
Shortage of industrial space
The UK is experiencing the lowest level of available industrial space ever recorded. In January 2022, only 18.1 million square feet of space is available, due to demand for logistics units continuing to be driven by an increase in on line consumer spending.
Read more about the demand at: www.retailtimes.eo.uk/race-for-space-for-occupiers-with-only-18-1m-sg-ft-of-industrial-space-left-due-to pressures-of-e-commerce-colliers-reports
Entertainment
Market grows for ninth consecutive year
Preliminary figures have revealed that revenue in the music, video and games markets generated £9.7 billion in 2021, the ninth successive year of growth. Music revenues increased by 8.7% and video increased by 13.3%, but games fell by 3.3%. Physical music sales grew by 7.3%, the first increase since 2001, driven by the continuing boom in sales of vinyl.
Read more about the figures at: https://eraltd.org/news-events/press-releases/2021/entertainment-targets-10bn-in-uk-sales-in-2022-as-2021- produces-ninth-successive-year-of-growth/
Automotive
Output falls despite electric vehicle boost
UK car production fell by 28.7% in November 2021, the fifth consecutive month of decline. This represents the worst November performance since 1984. Battery electric, plug-in hybrid and hybrid cars took a record share of production, accounting for around a third of all cars made in the month.
Read more about the figures at: www.alphabet.com/en-gb/auto-digest/output-falls-287-despite-electric-vehicle-boost
Farming
Payment rates rise
Payment rates for Countryside Stewardship in England have been increased by an average of 30% in preparation for the agricultural transition to new post-Brexit green schemes. Around 50% of farmers in England were already in some form of Countryside Stewardship.
Read more about the increase at: www.fwi.co.uk/business/business-management/agricultural-transition/countryside-stewardship-payment-rates rise-by-30
DISCLAIMER While all reasonable efforts have been made, the publisher makes no warranties that this information is accurate and up-to-date.