Sirius News Bulletin - 9th August 2021
This bulletin provides a summary of topical news, announcements and policy developments affecting business across the UK.
Digital marketplaces
Sellers’ incomes to be reported to HMRC
HMRC has confirmed that from January 2023, websites and apps will have to report the incomes of sellers of goods as well as personal services. HMRC estimates that between 2 and 5 million businesses could be affected but expects the impact for individual sellers to be small.
Read more about the rules at: www.icaew.com/insights/tax-news/2021/aug-2021/Digital-marketplaces-to-report-sellers-incomes-to-HMRC-a s early-as-2023
Construction
Workloads rise as material availability falls
Builders’ workloads are at their highest levels for ten years according to the latest survey from the Federation of Master Builders (FMB). There have also been steep increases in material prices and a growing struggle to secure labour, especially carpenters and bricklayers.
Read more about the survey at: www.fmb.org .uk/resource/builders-workloads-rise-as-materia availability-faIls-says-fmb.html
Childcare
Concern about shortage of out-of-school provision
Local authorities are worried about the supply of school-age childcare, including breakfast and after school clubs. According to a new report there was already a shortage of places for school-age children pre-pandemic and a reduction in supply could have a negative effect on parents’ ability to work.
Read more about the report at: www.nurseryworld.co.uk/news/article/local-authorities-concerned-about-shortage-of-out-of-school-provision
Holiday accommodation
Covid strengthens market
New research has revealed that 86% of holiday accommodation owners invested in their business during the pandemic. Four-fifths invested money on being compliant with COVID-19 guidelines, while 71% improved their property or services.
Read more about the research at: https://catererlicensee.com/covid-strengthens-uk-holiday-accommodation-market-national-survey-shows buoyant-recovery/
Retail
Subscriptions grow to £395m
Research from Barclaycard Payments has revealed a 16% rise in the number of shoppers signed up to subscription services. There was also a 12% increase in annual expenditure per person for those signed up to the services (£552 to £620).
Read more aboutthe increase at: www.retailtimes.eo.uk/subscription-economy-grows-to-395m-providing-a-lifeline-to-many-retailers-during lockdown/
Marketing
Product updates for smaller businesses
lnstagram has launched two new product updates to support small businesses using the platform. A new hub will identify posts from similar businesses to inspire creativity along with additional features that allow users to see analytics related to their profile and posts.
Read more about the updates at: https://mobilemarketingmagazine.com/instagram-launches-product-updates-to-support-smal businesses-
Delivery drivers
Number of temporary drivers fall
Temporary delivery driver numbers have fallen by over a quarter as thousands return to their pre pandemic jobs in retail and hospitality. Figures indicate that the number of temporary delivery drivers available for work in June was down 29% compared to March 2021 as restrictions ease and sectors re open.
Read more about the figures at: www.retailgazette.co.uk/blog/2021/07/falI-in-number-of-temporary-oelivery-drivers-as-hospitaIity-and-reta il reopen/
Agriculture
One in three farmers unprepared for BPS withdrawal
Farmers are being urged to ensure their businesses can survive without the Basic Payment Scheme (BPS), which is due to be phased out in England. According to Farmers Weekly, 36% of farm income relies on the BPS payment but one in three farmers are yet to start preparing for its withdrawal.
Read more about the research at: www.fwi.eo.uk/business/business-management/agricultural-transition/one—in-three-farmers-unprepared-for bps-withdrawal
Green energy
Ikea to give customers credit for switching to green energy supplier
Ikea is offering customers £35 of free energy to encourage them to switch to green energy suppliers. This is the latest sustainability initiative from the retailer, which recently launched a furniture buy back scheme and began selling spare parts for items in a bid to extend their lifecycle.
Read more about the plan at: www.cha rgedretail.co.uk/2021/08/04/ikea-wilI-give-customers-35-cred it-for-switching-to-green-energy-supplier/
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