9 July 2024

Your Voice Matters: The NHBF State of the Industry Quarterly Survey

After a change in government last week and after recent wage rises, recession and falling inflation, we are keen to get the latest feedback from you about how business is going.

Please access the latest quarterly survey here: https://www.surveymonkey.com/r/WMH7L7L

The survey contains questions about business & trading, debt, barriers to growth, recruitment and your priorities for the next government.

The deadline for responses is Thursday 11 July at5pm.

The survey should take around 7 minutes. Your responses are strictly confidential.


The NHBF Top 100 Influencer Index Award

The NHBF Top 100 Influencer Index Award Ceremony is back for its fourth year, and nominations are now open! 

We're looking for individuals who make a difference in the hair and beauty industry, inspire others, and have a positive impact on social media. 

Do you know someone who fits the bill? Nominate them (you can nominate yourself too!) for the Top 100 Influencer Index and let their brilliance be recognised! 

Ready to nominate? It’s quick and easy! Click here.


General Election: Labour wins the General Election

Last Thursday’s UK General Election was won by the Labour Party. Some of the pledges the new Government made could have a significant impact on the hair and beauty industry. They include:

  • Economic Stability and Taxation: Labour’s promise of economic stability with a new partnership with businesses could provide a more predictable environment for salon owners. The cap on corporation tax at 25% and replacement of business rates might relieve some financial pressure on high street beauty businesses.
  • Apprenticeships and Training: By transforming Further Education colleges into specialist Technical Excellence Colleges and reforming the apprenticeships levy through a growth and skills levy. 
  • Support for SMEs: Actions on late payments and reforms to the British Business Bank are designed to improve the financial health of small businesses, which is critical for many independent salons and freelance beauty professionals.

Caroline Larissey, chief executive at the National Hair and Beauty Federation, said:

“Congratulations to Keir Starmer and the Labour party, we look forward to working with the new Government to advance the interests of the beauty and hair sector.
“We have been heartened during the election campaign to hear Labour underlining the important role of the hair and beauty for healthy high streets, economy and communities. We were also pleased also to hear their considerations around VAT reform, and we look forward to feeding in on the proposed roadmap for business taxation.
“As the new Government develops its proposed industrial strategy, it’s important that this improves the business environment in which our sector businesses work, improves the many towns, cities, high streets and communities where they are based and has talent development at its heart.

“People are central to the future of the hair and beauty sector and we look forward to working with the government to make sure that the proposed Growth and Skills levy improves, and not reduces in any way, support for apprenticeships for small and micro businesses, helping them bring on the talent of the future.”


CE Mark extension made indefinite

Businesses in the UK can continue using the European Union’s (EU) CE mark indefinitely for many products sold in Great Britain (GB). The mark was originally due to be replaced by the new UKCA mark in GB in 2020, however, it has now been announced that businesses may use the UKCA or CE mark for certain products sold in Great Britain, however, The EU CE mark must be used for products that are marketed and sold in the EU. More guidance is available on the Gov.uk website.


Self-assessment tax returns

Self-employed people can file an early self-assessment tax return for the 2023-24 tax year, ahead of the January 2025 deadline. By filing early, HMRC says that there will be more time to seek advice and greater flexibility in the choice of payment plans, making it easier to budget. All self-assessment returns can be completed online and are mandatory if you’re self-employed, have a total taxable income of more than £100,000, or need to pay the High Income Child Benefit Charge.