HMRC has published guidance on the Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) requirements for sole traders and landlords.
Monday, March 4, 2024Over one million self assessment taxpayers missed the filing deadline at midnight on 31 January, according to data published by HMRC.
Monday, March 4, 2024HMRC is warning people to be wary of bogus tax refund offers following the self assessment deadline on 31 January.
Monday, March 4, 2024Just a week after HMRC released new guidance that classed double-cab pickups as cars rather than vans, the government reversed the decision.
Monday, March 4, 2024The amount needed for a single person to have a moderate retirement has risen to £31,300, according to the Pensions and Lifetime Savings Association (PLSA).
Monday, March 4, 2024The government has named and shamed over 500 UK employers for underpaying their employees.
Monday, March 4, 2024HMRC has published the latest issue of the Employer Bulletin.
Monday, March 4, 2024New company car advisory fuel rates have been published and took effect from 1 March 2024.
Monday, March 4, 2024Government borrowing fell to £7.8 billion in December 2023 giving Chancellor Jeremy Hunt more scope to make the tax cuts he has hinted at in the Spring Budget.
Tuesday, February 6, 2024Tax cut promises may need to be scrapped as a result of the UK being in an 'unfortunate economic and fiscal bind', the Institute for Fiscal Studies (IFS) has warned.
Tuesday, February 6, 2024As the use of cryptoassets continues to grow HMRC is warning people to check if they need to complete a self assessment tax return for the 2022/23 tax year to avoid potential penalties.
Tuesday, February 6, 2024The government should raise the turnover threshold for VAT from £85,000 to £100,000, according to the Federation of Small Businesses (FSB).
Tuesday, February 6, 2024The government must clarify plans around new customs processes as firms remain in the dark about crucial aspects of their operation, says the British Chambers of Commerce (BCC).
Tuesday, February 6, 2024Artificial intelligence (AI) will affect almost 40% of all jobs around the world and deepen inequality, the International Monetary Fund (IMF) has warned.
Tuesday, February 6, 2024Tens of thousands more over 50s are now running their own businesses despite an overall decline in self-employment since 2020, according to the Association of Independent Professionals and the Self-Employed (IPSE).
Tuesday, February 6, 2024Just 35% of UK adults are confident they could complete the self assessment tax return form correctly, according to research by Standard Life.
Tuesday, February 6, 2024Chancellor Jeremy Hunt will deliver the 2024 Spring Budget on 6 March, the government has confirmed.
Monday, January 8, 2024The UK is at risk of recession after revised figures showed the economy shrank between July and September, according to data from the Office for National Statistics (ONS).
Monday, January 8, 2024HMRC recently updated its guidance on off payroll working compliance for employers.
Monday, January 8, 2024With less than a month to go to the self assessment deadline 5.7 million taxpayers have been urged to file their 2022/23 tax returns by HMRC.
Monday, January 8, 2024Red tape, rising costs and increasing regulation are holding back exports, a survey of UK businesses carried out by the British Chambers of Commerce (BCC) has found.
Monday, January 8, 2024Less than 30% of firms expect their workforce to fully return to the workplace over the next five years, according to research by the British Chambers of Commerce (BCC).
Monday, January 8, 2024HMRC has published the latest issue of the Employer Bulletin.
Monday, January 8, 2024Chancellor Jeremy Hunt used his Autumn Statement to make Full Expensing permanent for those businesses investing in IT equipment, plant and machinery.
Thursday, December 7, 2023The changes to National Insurance contributions (NICs) announced by Chancellor Jeremy Hunt in the Autumn Statement will help to 'ease the burden on strivers up and down the country', according to the Federation of Small Businesses (FSB).
Thursday, December 7, 2023The tax cuts announced in the 2023 Autumn Statement won't prevent tax revenues rising to their highest ever levels, the Institute for Fiscal Studies (IFS) has warned.
Thursday, December 7, 2023HMRC is 'Making Tax Difficult' for taxpayers as Making Tax Digital (MTD) adds to the burdens they face, according to a report by the Public Accounts Committee (PAC).
Thursday, December 7, 2023The UK government has agreed an 'historic' commitment with 48 countries to combat criminals using crypto assets to evade tax.
Thursday, December 7, 2023The Real Living Wage is set to increase by 10%, the Living Wage Foundation has announced.
Thursday, December 7, 2023UK inflation fell to a two-year low while the base rate of interest was unchanged by the Bank of England for the second month in a row.
Thursday, December 7, 2023New company car advisory fuel rates have been published and took effect from 1 December 2023.
Thursday, December 7, 2023The Chancellor should cement the government's commitment to small businesses in his Autumn Statement, according to the Federation of Small Businesses (FSB).
Monday, November 6, 2023The UK's rate of inflation held steady in September while the nation's economy grew the month before, according to the latest figures from the Office of National Statistics (ONS).
Monday, November 6, 2023The UK is on course to see its biggest tax rise in at least 50 years as a result of the freeze on personal thresholds and soaring inflation, according to analysis from the Resolution Foundation.
Monday, November 6, 2023Self assessment taxpayers must be on the lookout for scam texts, emails and phone calls from fraudsters, HMRC was warned.
Monday, November 6, 2023Online platforms should commit to paying small businesses within a maximum of thirty days in line with the Prompt Payment Code, according to the Federation of Small Businesses (FSB).
Monday, November 6, 2023A large majority of UK business leaders plan to offer employees remote and hybrid working in the long-term, according to the Institute of Directors (IoD).
Monday, November 6, 2023Many UK firms are still facing hiring issues as a result of challenging economic conditions, according to a report from the British Chambers of Commerce (BCC).
Monday, November 6, 2023HMRC has published the latest issue of the Employer Bulletin.
Monday, November 6, 2023Small firms will look to the upcoming Autumn Statement for signs that the government understands their operating concerns, says the Federation of Small Businesses (FSB).
Friday, October 6, 2023The UK's base rate of interest was held at 5.25% in September as the rate of inflation fell to 6.7% in the year to August 2023.
Friday, October 6, 2023The National Living Wage (NLW) will rise to at least £11 an hour from April 2024, Chancellor Jeremy Hunt has confirmed.
Friday, October 6, 2023Small and medium-sized enterprises (SMEs) are struggling to access finance and working capital, according to a report published by the Association of Chartered Certified Accountants (ACCA).
Friday, October 6, 2023The government has been slow to recover losses of £1.1 billion from fraud and error in Covid grant schemes, according to MPs in the Public Accounts Committee (PAC).
Friday, October 6, 2023HMRC has urged almost 430,000 young people with an unclaimed Child Trust Fund (CTF) to claim their cash.
Friday, October 6, 2023Less than 1% of small firms have benefitted from key local support schemes across England on net zero, according to research from the Federation of Small Businesses (FSB) and Warwick Business School.
Friday, October 6, 2023The number of payments made with cash rose for the first time in a decade in 2022, according to data published by UK Finance.
Friday, October 6, 2023The UK's annual inflation rate fell to 6.8% in July, down from 7.9% in June, according to the latest data from the Office of National Statistics (ONS).
Wednesday, September 6, 2023The UK is set for five years of lost economic growth, according to research from think tank the National Institute for Economic and Social Research (NIESR).
Wednesday, September 6, 2023More than a third of English households will see higher energy bills this winter than they did last winter, according to research published by the Resolution Foundation.
Wednesday, September 6, 2023HMRC should increase the rewards it pays out to whistleblowers in line with the US system, according to law firm RPC.
Wednesday, September 6, 2023The frozen Savings Allowance combined with rising interest rates will push over one million taxpayers into paying tax on their savings this tax year, according to research by investment platform AJ Bell.
Wednesday, September 6, 2023The government has launched the UK Business Climate Hub to offer firms advice and support on reducing their energy bills and cutting their carbon emissions.
Wednesday, September 6, 2023HMRC has published the latest issue of the Employer Bulletin.
Wednesday, September 6, 2023New company car advisory fuel rates have been published and took effect from 1 September 2023.
Wednesday, September 6, 2023The UK's rate of inflation fell to 7.9% in the year to June while the country's economy shrank in May, according to the latest Consumer Prices Index (CPI) published by the Office for National Statistics (ONS).
Monday, August 7, 2023The UK's interest rate has been raised to 5.25% by the Bank of England, as it continues to try and bring inflation under control.
Monday, August 7, 2023HMRC has increased interest rates with late payment bills charged 7.5% from 11 July, the highest rate since 2001.
Monday, August 7, 2023A new fuel finder scheme to enable drivers access to live fuel prices and revitalise competition in the retail road fuel market, according to the Competition and Markets Authority (CMA).
Monday, August 7, 2023Almost a million young people have yet to access savings contained in Child Trust Funds (CTFs), according to a report by Parliament's Public Accounts Committee (PAC).
Monday, August 7, 2023South Yorkshire has been named as the UK's first Investment Zone by Chancellor Jeremy Hunt.
Monday, August 7, 2023The largest overhaul of alcohol duty in 140 years sees drinks taxed by strength rather than category from 1 August.
Monday, August 7, 2023The voluntary and community sector will be able to apply for grants from HMRC to support their work with taxpayers who need extra assistance with their tax affairs.
Monday, August 7, 2023HMRC has extended the voluntary national insurance contributions (NICs) deadline until April 2025.
Thursday, July 6, 2023HMRC is planning to close its self assessment tax helpline for three months over the summer to focus call centre resources on dealing with other problem calls.
Thursday, July 6, 2023A report published by the National Audit Office (NAO) has found that HMRC's Making Tax Digital (MTD) initiative is expected to cost around £1 billion more than was forecast in 2016.
Thursday, July 6, 2023The UK's rate of inflation plateaued at 8.7% in May, data published by the Office for National Statistics (ONS) has shown.
Thursday, July 6, 2023The Bank of England has raised UK interest rates to a 15-year high of 5% as it continues its battle against inflation.
Thursday, July 6, 2023Over 200 employers have been named by the government for failing to pay their lowest paid employees the minimum wage.
Thursday, July 6, 2023The Resolution Foundation think tank has called for the government to replace the initial post-Brexit trade plan with a 'far more ambitious' strategy to help protect Britain's manufacturing firms and seek new markets for UK services firms.
Thursday, July 6, 2023The Institute of Directors (IoD) has urged the government to create an industrial strategy to help 'define specific long-term priorities for the UK economy'.
Thursday, July 6, 2023The UK rate of inflation fell to 8.7% in April from 10.1% in March.
Monday, June 5, 2023HMRC is urging employed workers to make sure they don't miss out when they claim a refund on work-related expenses.
Monday, June 5, 2023The number of self assessment taxpayers filing their tax return on the first day of the tax year has more than doubled since 2018, HMRC has revealed.
Monday, June 5, 2023Following the Bank of England's latest increase in the base rate, HMRC has increased both late paid tax and the rate paid on repayments of tax.
Monday, June 5, 2023The Institute of Chartered Accountants in England and Wales (ICAEW) has written to HMRC regarding how Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) can be better shaped to suit the needs of small property businesses and the self-employed.
Monday, June 5, 2023The number of people paying income tax at 40% or above will reach 7.8 million by 2027/28, according to research published by the Institute for Fiscal Studies (IFS).
Monday, June 5, 2023The Federation of Small Businesses (FSB) has urged energy suppliers to renegotiate fixed contracts for small firms on market-peak tariffs.
Monday, June 5, 2023New company car advisory fuel rates have been published and took effect from 1 June 2023.
Monday, June 5, 2023HMRC has reminded businesses that file VAT returns annually that the online VAT filing portal will close from 15 May 2023.
Monday, May 8, 2023UK inflation has dropped, but remains in double-digit levels, as the cost-of-living crisis eased slightly in March.
Monday, May 8, 2023Research carried out by think tank the Resolution Foundation has suggested that the size of the UK's six-year 'stealth tax' threshold freeze has nearly trebled to £25 billion.
Monday, May 8, 2023The Public Accounts Committee (PAC) has criticised the government for losing billions of taxpayers' money to fraud and error in pandemic support.
Monday, May 8, 2023Businesses are still facing major difficulties in hiring new staff, according to a survey conducted by the British Chambers of Commerce (BCC).
Monday, May 8, 2023£177.6 million was lost to impersonation scams in 2022, data published by trade association UK Finance has revealed.
Monday, May 8, 2023The Trades Union Congress (TUC) has stated that UK employees must be protected from workplace decisions made by artificial intelligence (AI) systems.
Monday, May 8, 2023HMRC has published the latest issue of the Employer Bulletin.
Monday, May 8, 2023A £27 billion transformation of capital allowances from April was announced by Chancellor Jeremy Hunt as he delivered a 'Budget for growth'.
Wednesday, April 5, 2023The UK's business groups largely welcomed the measures taken in the Chancellor's Spring Budget.
Wednesday, April 5, 2023HMRC recently issued preliminary guidance in regard to the abolition of the pensions lifetime allowance.
Wednesday, April 5, 2023Interest rates have been increased to 4.25% from 4% by the Bank of England (BoE) as it tries to slow rising prices.
Wednesday, April 5, 2023HMRC has revised interest rates with late payment bills charged 6.75% from 13 April, the highest level since January 2008.
Wednesday, April 5, 2023The government has extended the voluntary national insurance deadline to give taxpayers more time to fill gaps in their contributions and boost their state pensions.
Wednesday, April 5, 2023Two freeports have been confirmed for Wales by the UK and Welsh governments.
Wednesday, April 5, 2023The end of the Energy Bill Relief Scheme (EBRS) on 1 April could threaten the future of hundreds of thousands of small firms, according to research by the Federation of Small Businesses (FSB).
Wednesday, April 5, 2023