Liverpool City Region COVID-19 Updates

Firms call for Employment Allowance rise amid "anti small business" tax hikes

RESPONDING to the Government�s decision to increase National Insurance Contributions (NICs) for employers, employees and sole traders by 1.25%, alongside a 1.25% increase in dividend taxation; Federation of Small Businesses (FSB) Area Leader for Liverpool City Region, Michael Sandys, said:- "These hikes will have business owners and sole traders feeling demoralised at the point when they�re trying to recover from the most difficult 18 months of their professional lives. For those thinking about starting up, they send completely the wrong message. Business owners who have done all they can to retain and support their staff during the pandemic are now being punished for that loyalty with an ₤11bn increase in NICs, which essentially serve as a jobs tax. This regressive levy hits employers and sole traders without meaningful regard for how their business is performing. And this increase will stifle recruitment, investment and efforts to up-skill and improve productivity in the years ahead. At the same time those running companies, many of whom were left out of pandemic support measures, face a fresh assault on dividend revenue. It's extremely disappointing to see the Government undermining the good work it did last year in raising the Employment Allowance to provide some protection for small employers. Instead of breaking manifesto promises, we had hoped this administration; which has repeatedly pledged its support for small enterprises; would build on that progress against a backdrop of spiralling input prices, skills shortages, supply chain disruption, the reintroduction of business rates and emergency loan repayments. This move marks an anti jobs, anti small business, anti start up manifesto breach. The Government should now increase the Employment Allowance to mitigate the damaging impacts of these hikes on the small firms that make up 99% of our business community."

Thousands of teenagers missing out on Child Trust Fund cash

HM Revenue and Customs (HMRC) is today urging young people to check if they have a hidden pot of gold; in the shape of a Child Trust Fund (CTF). It is now one year since the first account holders started turning 18 and every month, around 55,000 Child Trust Funds mature. This means their owners can withdraw funds or transfer savings into an adult ISA. Hundreds of thousands of accounts have been claimed so far, but many have not.

CTFs were set up for all children born between 1 September 2002 and 2 January 2011 with a live Child Benefit claim. Parents or guardians set up these accounts with Child Trust Fund Providers; usually banks, building societies or investment managers; using vouchers provided by the UK Government. If an account was not opened by the child�s parent, HMRC set 1 up on the child�s behalf. Between 2002 and early 2011, about 6 million CTFs were opened by parents or guardians, with a further million set up by HMRC.

Economic Secretary to the Treasury, John Glen, said:- "It�s fantastic that so many young people have been able to access the money saved for them in Child Trust Funds but we want to make sure that nobody misses out on the chance to invest in their future. If you�re unsure if you have an account or where it may be, it�s easy to get help from HMRC to track down your provider online."

Some young people may not know they have a CTF; or some parents or guardians may have forgotten who they set the account up with. To help them find their accounts, HMRC created a simple online tool. Any young people unsure about whether or not they have a CTF should 1st ask a parent or guardian if they remember setting one up. Once they know who their provider is, they should contact them directly; and either request to withdraw the money or transfer the funds into an adult ISA or other savings account. For those who cannot access the tool, HMRC will provide alternative, non-digital routes to finding a CTF provider upon request. HMRC will send details of the provider by post within 3 weeks of receiving their request. The accounts were set up to encourage positive financial habits and a saving culture among the young account holders. HMRC is working with the Money and Pension Service (MaPS) and the CTF providers to continue to provide financial education to the beneficiaries. At 16 years, a child can choose to operate their CTF account or have their parent or guardian continue to look after it, but they cannot withdraw the funds. At 18 years of age, the CTF account matures and the child is able to withdraw money from the fund or move it to a different savings account..

Total UK cases Covid19 cases in and around Liverpool City Region

THE total number of UK Coronavirus (Covid19) infections that have been laboratory confirmed, within the UK, has risen by:- 37,489 cases and the total number now stand at:- 7,056,106 that includes tests carried out by commercial partners which are not included in the 4 National totals.

The total number of Covid19 associated UK fatalities added to the total, was sadly reported to be:- 209 within 28 days of positive test, according to the Department of Health. The total number of deaths of people who have had a positive test result confirmed by a Public Health or NHS laboratory is:- 133,483, within 28 days of positive test. Deaths with Covid19 on the death certificate:- 156,888.

In England, there are a total of:- 6,074,040 confirmed cases. North West - total of:- 968,787 confirmed cases.

The number of laboratory confirmed cases within the Liverpool City Region are as follow:-

Firms call for Employment Allowance rise amid "anti small business" tax hikes

Thousands of teenagers missing out on Child Trust Fund cash

Total UK cases Covid19 cases in and around Liverpool City Region