Anna’s Accountancy Alerts – Week 53 (3rd – 9th April 2023)

Anna’s Accountancy Alerts - Week 53 (3rd - 9th April 2023)

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Energy Bill Support for Firms

The Treasury said that the government will cap support at £5.5 billion for businesses over 12 months from 1 April 2023.

Heavy energy-using sectors, like glass, ceramics and steelmakers will receive a discount reflecting the difference between a price threshold and the relevant wholesale price.

Investment in training

Fewer firms are increasing their investment in training and development despite a skills shortage, according to a survey by the Confederation of British Industry (CBI).

The survey found that the proportion of firms intending to increase investment in training and development over the next year has fallen.

It also showed a widespread lack of awareness of key government skills reform programmes, including around the Lifelong Loan Entitlement and the Local Skills Improvement Plan.

Inflation and the state pension

It was confirmed in November 2022 that the state pension will rise by an inflation-matching 10.1% in April.

This will take the full level of new state pension to £203.85 a week (£10,600 a year), although the amount you get depends on your National Insurance Record.

The increase comes courtesy of the triple lock guarantee, whereby payments go up each April by one of three measures: the rate of inflation (as of the previous September), average earnings growth (as of the previous July) or 2.5%, whichever is highest.

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