Happy Friday! This morning’s lowdown features news about ICAEW’s rebranding, the government feeling more pressure over business rates and March’s fuel rates.
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ICAEW is to rebrand
ICAEW is set to debut their new brand in the April edition of Economia, as it differentiates itself from its competitors.
After researching their brand over the last year with their key stakeholders, ICAEW said: “Our marketplace has changed considerably since ICAEW was first formed in 1880 – we now have global markets, digital communication and more competition than ever before. So we need a strong, distinctive brand to clearly position ourselves.”
The ICAEW said that the comments and feedback from their stakeholders has helped it produce a brand which ensures it “remains modern” and “relevant” to its audience.
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Pressure grows over business rates
The government is under pressure from business leaders and MPs to rethink the business rates system.
As reported in The Guardian, 11 trade bodies have written to MPs calling for an overhaul of business rates. The trade bodies, including the CBI and the British Chambers of Commerce, said in the letter that business rates system is “unfair, outdated, and deters investment” and warned that the tax will be a “key factor in shaping investment and growth in the UK economy for decades to come”.
Helen Dickinson, chief executive of the BRC, said “under the current business rates system the divide between the most prosperous and deprived areas will get bigger as a result and more businesses will decide to close in those less successful communities.”
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HMRC updates fuel rates
HMRC has updated the advisory fuel rates that will take effect from 1 March. The previous fuel rates can still be used for up to one month from the date the new rates apply to employees using a company car.
The new rates are:
Engine size
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Petrol - amount per mile
|
LPG - amount per mile
|
1400cc or less
|
11 pence
|
7 pence
|
1401cc to 2000cc
|
14 pence
|
9 pence
|
Over 2000cc
|
22 pence
|
14 pence
|
Engine size
|
Diesel - amount per mile
|
1600cc or less
|
9 pence
|
1601cc to 2000cc
|
11 pence
|
Over 2000cc
|
13 pence
|