With the cost-of-living crisis taking hold for many, Christmas just around the corner, Elon Musk taking over Twitter and the World Cup kicking off in Qatar, it’s been a big month for many – especially businesses.

Here’s all the news that hit the headlines in November in business and accountancy.

HMRC extends electronic submission of claims for VAT refunds for non-UK businesses

Historically, non-UK businesses who are making a refund claim for VAT incurred in the UK have been required to do so by post. HMRC has been trialling an electronic claims service, which is now being extended to all agents and businesses.

It’s important to note that the claims service is still in testing and could be paused at any time.  Claims already submitted would not be affected.

Budweiser Makes Decision on World-Cup Alcohol Ban

After a last-minute ban on Alcohol in stadiums at the World Cup in Qatar, sponsor Budweiser have decided to ship their unsold Buds to the winning country of the tournament.

They told CNN Business, that it “wants to bring this celebration from the FIFA World Cup stadiums to the winning country’s fans.”

“We will host the ultimate championship celebration for the winning country. Because, for the winning fans, they’ve taken the world. More details will be shared when we get closer to the finals,”

It was said to be a $75 million sponsorship deal with FIFA, according to multiple reports. Whilst it halts Budweiser’s marketing plans for the World Cup, the fans from the winning country will sure be able to celebrate the win with a drink if desired.

Elon Musk Takes Over Twitter

Elon Musk’s £44bn deal to take over Twitter came to fruition this month, with the billionaire now in charge of one of the world’s biggest social media platforms – but it hasn’t’ all gone to plan.

With rumours of demanding working conditions leading to staff resignations, the re-instating of accounts from Kanye West and Donald Trump to the introduction and withdrawal of the paid
verification service Twitter Blue, the changes have been received poorly by media and the public. There was also fear Twitter could go down, with smaller social media platforms such as HIVE and
Mastodon seeing a rise in users, and Tumblr crashing as users signed up for the site or logged back into their old accounts.

It’s safe to say November has been a turbulent time for Twitter, despite Musk’s reassurances that everything is going to plan – even responding to the news on his own Twitter Feed with memes and
reaction images. It’s unclear the direction the platform will be going in, so make sure you keep up to date if you run a business that’s active on Twitter.

Businesses Won’t Receive Extra Support beyond April

Despite the government announcing state support beyond April 2023 for household struggling with energy bills, the government claim it is “not sustainable to continue supporting large numbers of
businesses” beyond next April 2023.

This comes as a blow to business owners facing a hard winter and spring, but the government wants to make efforts to reduce energy consumption and find alternative solutions by withdrawing support
for most corporate energy consumers from March 31.

Black Friday Warning

Research suggests that an extra £500m will be spent during Black Friday this year, with consumers warned to check whether they’re getting a genuine deal.

With the cost-of-living crisis, experts have told consumers to not get caught out by attractive deals. Research by PwC estimates that on average, the spend per person will be about £238, with sales this
year £500m higher than 2021.

Martin Lewis, the founder of MoneySavingExpert has advised customers on Twitter: “My Black Friday shopping memo … If you were going to buy it anyway and its half price, you’ve saved 50%. If
you weren’t going to buy it, but do because it’s half price, you’ve wasted 100%.”

As we reach the end of November, the festive period will be in full swing as we lead up to Christmas day. Keep your eyes on the news as it happens over the next month and have a great December!