click to view mobile Navigation
You are here > More cuts in red tape and bureaucracy

More cuts in red tape and bureaucracy

The cuts mean that firms can spend more time running their business and reflect the Government’s ambition to make the UK the best place in Europe to start, finance and grow a business.

Actions taken include:

· The Department for Business, Innovation and Skills’ (BIS’s) amendment of restrictions to move between International Financial Reporting Standards (IFRS) and UK Generally Accepted Accounting Principles (UK GAAP) gives business the flexibility to determine the most appropriate set of accounting rules for them.

· HM Treasury's improved implementation of the EU Money Laundering Directive will ensure that the UK is a hostile environment for money launderers and terrorist financing while reducing the burden of regulation on legitimate businesses.

· The Home Office’s simplification of its criminal records disclosure and barring arrangements, making criminal records checks more portable and reducing the need for repeat checks.

· BIS’s Audit Exemptions will give small business and subsidiaries flexibility in how they submit their company reports.

· Measures to be removed or simplified as a result of the Red Tape Challenge initiative, such as repealing the Smoke-Free Signs Regulations; and exempting small venues staging live music events from the 2003 Licensing Act.

Business and Enterprise Minister Mark Prisk said:

These measures show we are making steady progress on the long road to a better regulatory environment for business. It demonstrates the effectiveness of the One-in, One-Out system, where Government only regulates when it is in the interests of the economy or clearly necessary for personal safety.  Yes, it will take time for the difference to be felt by business, and some sectors will feel greater relief sooner than others. But I was encouraged by the recent Business Perceptions Survey, which showed that fewer firms feel that regulation is an obstacle to their business compared to 2009.

The measures were published today in the fourth Statement of New Regulation, which shows the continuing trend of deregulation. The cumulative report shows that since 2011, savings to business from cuts in regulation have outweighed the costs of new domestic regulation by over £850 million.

This reduction in burdens is despite the bulk of the savings in regulation delivered through private pensions’ indexation in early 2011 being offset by pensions automatic-enrolment. This requirement has been deferred to the next Parliament for small businesses, to give them longer to prepare.

Article courtesy of  Department for Business Innovation & Skills

< Go Back


Hewett's Support Worcester Full & Half Marathon 2018
We are pleased to announce that Hewett Recruitment will be supporting St Richards Hospice and sponsoring the Worcester Full and Half Marathon 2018 as it enters its seventh year.
04/01/2018 10:38:41

HR Professionals Conference 2017 - Huge Success
With over 100 delegates, this years' HR Conference hosted by Hewett Recruitment and the HW Chamber of Commerce is now the largest HR Conference in Worcestershire.
27/11/2017 16:55:25

Hewett’s once again pledge their support to local Foodbanks
Hewett Recruitment have once again pledged their full support this Christmas with a Foodbank collection initiative aimed at helping the local communities of Worcestershire who have fallen on hard times.
18/10/2017 10:55:56

Hope & Glory Dinner - 29th November 2017
Spectacular Black-Tie 'Proms' Celebration in Bewdley... Flag waving and singing to a 20-piece orchestra - three course dinner
22/09/2017 12:20:40

Hewett’s ‘values’ recognised at staff awards
Hewett’s Annual Family Fun Day and Company Awards took place at the West Midlands Safari Park in July.
31/07/2017 15:50:48


Louises Column - Salary & Skills Survey
Last month Hewett Recruitment partnered with the Herefordshire & Worcestershire Chamber of Commerce to publish the Salary & Skills Survey 2017.
18/01/2018 10:22:48

Christmas Legal E-Bulletin - Preparing Your Business for 2018
In the last Employment Law E-Bulletin of 2017, learn how to prepare your business for the new year ahead and the recent employment law developments that should be considered.
18/12/2017 12:50:33

Louises Column - The Warriors Community Foundation
Many of us in business engage and support local causes, to help raise awareness and generate much needed funds for charities and local groups to continue their good work. I'd like to highlight and encourage you to get involved with the great work going on at an exceptional and award winning foundation, The Warriors Community Foundation.
07/12/2017 13:57:01

Legal E-Bulletin - Reimbursement Scheme for Employment Tribunal Fees Announced
Sally Morris, Partner and Head of Employment for mfg Solicitors shares recent declaration about unlawful Employment Tribunal fees and the reimbursement that eligible applicants may be entitled to.
04/12/2017 13:22:02

Louises Column - The Importance of Flexible Working
What to do as a job is the most important life decision that most people will ever have to make. This outranks other life-defining decisions such as where to live, starting a family, or getting married according to a recent survey.
15/11/2017 11:13:09