More Freedom To Buy And Sell Bread And Wine

Regulations banning the sale of different unwrapped bread sizes and small measures of wine are set to be scrapped, Science Minister David Willetts confirmed today. Current laws restrict bakers to producing loaves of unpackaged bread in set sizes while licensed premises are limited to selling alcoholic drinks in certain measures. These rules were aimed at protecting consumers but have not taken account of changes to trade practice or consumer demand in recent years. The Government plans to update the rules to introduce greater flexibility and to scrap those that are no longer needed. Under current regulations unwrapped bread weighing more than 300g must be made up in quantities of 400g or multiples of it. Wine cannot be sold in measures less than 125ml while beer must be sold in thirds, halves or multiples of half-pints. Fortified wine must be sold in the same quantities as normal wine. Under the government’s changes, premises will be able to sell wine in measures under 75ml, beers can be sold in ‘schooners’ which are two-thirds of a pint while fortified wine will be sold in smaller sizes of 50ml and 70ml. Fixed sizes for unwrapped bread will be scrapped so bakers will be free to innovate. Science Minister David Willetts said: “This is exactly the sort of unnecessary red tape the government wants to remove. No pub or restaurant should break the law by selling a customer a sample of wine. We have listened to consumers and businesses. They have called for fixed quantities to be kept but with greater flexibility. That is what this change will deliver. We are freeing businesses so they can innovate and create new products to meet the demands of their customers.” A Statutory Instrument introducing these changes will be laid before Parliament during the coming session.

HMRC Issue New Year Tax Return Reminder

HM Revenue & Customs (HMRC) are reminding tax payers to act quickly in order to avoid being hit with penalties. Outstanding 2009/10 returns must be filed online by 31 January 2011 or a £100 late-filing penalty will apply. New users can register online at the HM Revenue & Customs website. A User ID, and Activation Code will then be posted out. Once activated the Self Assessment service, you can file online. Those who have filed online before are advised to make sure they have User IDs and passwords as it can take seven working days to get replacements. January 31 is also the deadline for paying tax for the 2009/10 tax year.

Survey Finds Mid-Cap Businesses Confident For New Year

Mid-cap businesses are looking forward to a successful New Year with 58 per cent expecting an increase in their turnover in 2011 and 93 per cent of those seeking finance managing to obtain what they need, a Department for Business survey indicates. The survey, “Results from the 2010 Finance Survey of Mid-Cap Businesses”, showed that mid-caps are emerging well from the recession with the majority of the businesses seeking finance obtaining the finance they need. Ninety-three per cent of those seeking finance obtained finance, which is an improvement from last year’s figure of 82 per cent. Next year 58 per cent of mid-caps expect their sales to be higher than current levels. Over half – 54 per cent – of mid-caps also reported an increase in their turnover over the last year. The net balance of sales growth rose significantly on 2009 from -25 to +31, which indicates a greater number of businesses are now growing. Minister for Business and Enterprise Mark Prisk said: “Mid-caps are an essential aspect of our economy, employing over a fifth of our workforce and helping boost growth. It is pleasing to see they are recovering well from the recession and are facing fewer problems with access to finance.” Just seven per cent of mid-caps reported access to finance as the main barrier to the success of the business, down 10 percentage points on last year’s figure of 17 per cent. The surveyed businesses reported they had reduced their demand for external finance with only 32 per cent seeking external finance in 2010, a decrease of nine percentage points from the previous year. Mid-caps are especially important to the economy despite only making up 0.5 per cent of enterprises in the UK, they make a disproportionate contribution to total UK employment, with 21 per cent of jobs and contribute almost 20 per cent of total turnover.

(BMcN/GK)