Other News
HMRC starts chasing up SEISS overpayments
HMRC has started to recover overpayments of Self-employment Income Support Scheme (SEISS) grants.
Monday, May 9, 2022UK government unveils energy strategy
Up to eight more nuclear reactors could be delivered to existing sites as part of the UK's new energy strategy.
Monday, May 9, 2022Treasury announces it will regulate some forms of cryptocurrency
The Treasury has announced that it plans to recognise stablecoins as a valid form of payment as part of a wider government initiative to 'make Britain a global hub for cryptoasset technology and investment'.
Monday, May 9, 2022HMRC names avoidance scheme promoters for first time
HMRC has named two tax avoidance schemes and their promoters for the first time, advising anyone involved to withdraw from them as soon as possible to prevent the build up of large tax bills.
Monday, May 9, 2022New HMRC one-stop online shop provides taxpayers with tax relief information
HMRC has launched a new one-stop online shop designed to provide taxpayers with information on the tax reliefs and financial help available from HMRC.
Monday, May 9, 2022Export growth is 'stagnant', BCC finds
Data published by the British Chambers of Commerce (BCC) shows that UK export growth has been effectively stagnant for the past year.
Monday, May 9, 2022Latest guidance for employers
HMRC has published the latest issue of the Employer Bulletin.
Monday, May 9, 2022Government inaction on long COVID could cost billions
There are now more than a million workers missing from the workforce compared to pre-pandemic figures, according to a report published by the IPPR think tank.
Monday, May 9, 2022Chancellor cuts fuel duty in Spring Statement
Chancellor Rishi Sunak announced a 5p per litre cut in fuel duty for petrol and diesel in the 2022 Spring Statement.
Tuesday, April 5, 2022Business groups give mixed response to Spring Statement
The UK's business groups gave a mixed response to Chancellor Rishi Sunak's Spring Statement speech.
Tuesday, April 5, 2022OBR updates economic picture
In his Spring Statement speech, Chancellor Rishi Sunak responded to the latest forecasts as published by the Office for Budget Responsibility (OBR).
Tuesday, April 5, 2022MTD for VAT brings in up to an extra £195 million in tax
Estimates show that up to £195 million in extra tax revenue has been collected via Making Tax Digital for VAT (MTD for VAT), according to research from HMRC.
Tuesday, April 5, 2022Bank of England raises interest rates for third time in a row
The Bank of England has raised interest rates for the third consecutive time.
Tuesday, April 5, 2022UK economic growth to halve this year, warns BCC
UK economic growth is expected to halve this year amid soaring inflation, major tax rises, and global shocks including Russia's invasion of Ukraine, warns the British Chambers of Commerce (BCC).
Tuesday, April 5, 2022Student loan repayments for new borrowers to start at £25,000
The level at which students begin to pay back their loans will be lowered from £27,295 to £25,000 for new borrowers.
Tuesday, April 5, 2022CMA frees leaseholders from rising ground rents
Intervention by the Competition and Markets Authority (CMA) has freed more leaseholders from increasing ground rent terms that saw them trapped in homes they struggled to sell or mortgage.
Tuesday, April 5, 2022Spring Statement 2022
Chancellor Rishi Sunak presented his first Spring Statement on Wednesday 23 March 2022.
Thursday, March 24, 2022Spring Statement is the time to act, says CBI
The Chancellor must act at the Spring Statement or risk the UK economy drifting backwards to low growth, warns the Confederation of British Industry (CBI).
Monday, March 7, 2022Coronavirus SSP Rebate Scheme set to close on 17 March
The Statutory Sick Pay Rebate Scheme (SSPRS) will close on 17 March 2022.
Monday, March 7, 2022Businesses urged to apply for remaining COVID-19 support grants
Businesses are being encouraged to apply for remaining coronavirus (COVID-19) grant funding from local authorities.
Monday, March 7, 2022Two freeports planned for Scotland
A partnership agreement to establish two green freeports in Scotland has been reached between the Scottish and UK governments.
Monday, March 7, 2022HMRC raises late payment interest rate
Following the decision by the Bank of England to increase the base rate, HMRC has confirmed that the late payment interest rate rose a quarter of a percent.
Monday, March 7, 2022MPs call for road pricing to replace motoring taxes
The government must overhaul motoring taxes as it phases out new diesel and petrol vehicles, according to MPs.
Monday, March 7, 2022Over a million take advantage of extra time to file self assessment returns
HMRC has revealed that more than one million taxpayers filed their late tax returns in February - taking advantage of the extra time to complete their self assessment without facing a penalty.
Monday, March 7, 2022Advisory fuel rates for company cars
New company car advisory fuel rates have been published and took effect from 1 March 2022.
Monday, March 7, 2022COVID-19 support grants paid to companies must be included on company tax returns
HMRC has warned that businesses must declare any coronavirus (COVID-19) support grants or payments on their company tax returns and stated that the grants and payments are taxable.
Monday, February 7, 2022Government scheme gives discounts of up to £5,000 on accounting software
The government's Help to Grow: Digital scheme - designed to support smaller businesses in adopting digital technologies - is now open for applications.
Monday, February 7, 2022Claims portal reopens for Statutory Sick Pay Rebate Scheme
HMRC has reopened a claims portal for small employers to again claim refunds for coronavirus (COVID-19)-related sick pay.
Monday, February 7, 2022Consumer group urges taxpayers to avoid using refund firms to claim tax rebates
Consumer group Which? has urged taxpayers to avoid using so-called 'refund firms' to claim tax rebates.
Monday, February 7, 2022National insurance rise 'set to squeeze budgets', warns CBI
The Confederation of British Industry (CBI) has warned the government that the planned rise in national insurance will squeeze budgets and affect economic growth.
Monday, February 7, 2022No 'convincing case' for digital UK currency, says House of Lords committee
Creating an official digital currency in the UK could pose significant risks to the financial stability of banks, a House of Lords committee has warned.
Monday, February 7, 2022Scam HMRC call reports drop by 97%
Reports of scam HMRC phone calls have fallen by 97% over the last 12 months, according to the latest figures from the tax authority.
Monday, February 7, 2022BCC calls for 'urgent action' to improve UK-EU trade
The British Chambers of Commerce (BCC) has called for urgent action to help improve trade with the EU.
Monday, February 7, 2022Chancellor announces £1 billion fund for businesses
On 21 December 2021, Chancellor of the Exchequer, Rishi Sunak, unveiled a £1 billion COVID-19 fund, including cash grants of up to £6,000 per premises for each eligible firm.
Sunday, January 9, 2022Self assessment taxpayers must declare COVID grants on tax returns
HMRC has reminded self assessment taxpayers to declare any COVID-19 grant payments on their 2020/21 tax return.
Sunday, January 9, 2022HMRC waives self assessment penalties for one month to ease COVID-19 pressures
HMRC is waiving late filing and late payment penalties for self assessment taxpayers for one month.
Sunday, January 9, 2022Scottish Budget 2022
Finance Secretary Kate Forbes delivered the 2022/23 Scottish Budget on 9 December 2021, setting out the Scottish Government's financial and tax plans.
Sunday, January 9, 2022Welsh government delivers Budget
On 20 December 2021, the Welsh government outlined a Budget to 'build a stronger, fairer and greener Wales'.
Sunday, January 9, 2022FCA to introduce new consumer duty
The Financial Conduct Authority (FCA) is set to introduce a new consumer duty to better protect users of financial services.
Sunday, January 9, 2022HMRC latest guidance for employers
HMRC has published the latest edition of the Employer Bulletin.
Sunday, January 9, 2022Over 440,000 small firms at risk due to late payment crisis
More than 440,000 small firms could be forced out of business by the late payment crisis, according to the Federation of Small Businesses (FSB).
Sunday, January 9, 2022HMRC's tax take falls by billions due to pandemic
HMRC saw a drop of almost £30 billion in tax revenues in the latest financial year because of the pandemic.
Monday, December 6, 2021Government sets out tax details on TAM Day
The UK government marked the inaugural Tax Administration and Maintenance (TAM) Day with the publication of 30 papers covering a wide range of tax issues.
Monday, December 6, 2021Three-day wait for Statutory Sick Pay to return next year
The standard three-day waiting time for Statutory Sick Pay (SSP) will be reinstated for coronavirus (COVID-19)-related claims from 25 March 2022.
Monday, December 6, 2021HMRC issues warning on self assessment scams
HMRC has warned taxpayers completing their 2020/21 tax returns to 'be on their guard' and stay vigilant in regard to tax-related scams.
Monday, December 6, 2021New law introduced to help protect pension savers from scammers
New rules to help protect pension savers from scammers have become law.
Monday, December 6, 2021Services sector continues to recover despite rising costs
Optimism improved for firms across the services sector in the three months to November, according to the latest Service Sector Survey from the Confederation of British Industry (CBI).
Monday, December 6, 2021Advisory fuel rates for company cars
New company car advisory fuel rates have been published and took effect from 1 December 2021.
Monday, December 6, 2021Costs 'weighing on businesses' sustainability intentions', FSB finds
A report published by the Federation of Small Businesses (FSB) has revealed that the costs associated with going green have impacted small firms' plans for becoming more sustainable.
Monday, December 6, 2021Chancellor delivers Budget to lay foundation for a strong economy
On 27 October, Chancellor Rishi Sunak delivered a Budget to ensure the UK economy bounces back following the coronavirus (Covid-19) pandemic.
Monday, November 8, 2021Business groups give mixed response to Budget
Business groups gave a mixed response to Chancellor Rishi Sunak's 2021 Autumn Budget speech.
Monday, November 8, 2021IFS predicts millions to be worse off next year due to tax rises
The Institute for Fiscal Studies (IFS) has predicted that millions of people will be worse off in 2022 as a result of spiralling costs and tax rises.
Monday, November 8, 2021Payment period on residential CGT is doubled
The government has doubled the period for filing and payment of capital gains tax (CGT) on residential property from 30 days to 60 days.
Monday, November 8, 2021FSB warns tax rises threaten recovery from pandemic
The Federation of Small Businesses (FSB) has warned that tax rises could threaten the UK's ongoing recovery from the Covid-19 pandemic.
Monday, November 8, 2021Applications now open for freeports
Businesses that are planning to operate in the UK's new freeports can now apply to HMRC.
Monday, November 8, 2021Pensions experts say a minimum of £10,900 a year needed to retire
A single person will need post-tax annual income of £10,900 for a minimum standard of living in retirement, according to the Pensions and Lifetime Savings Association (PLSA).
Monday, November 8, 2021Heat pump grants worth £5,000 will help replace gas boilers
Homeowners in England and Wales will be offered subsidies of £5,000 from next April to help them to replace old gas boilers with low carbon heat pumps.
Monday, November 8, 2021Making Tax Digital for Income Tax Self Assessment delayed for a year
The government has delayed the introduction of Making Tax Digital (MTD) for Income Tax Self Assessment (MTD for ITSA) for a year.
Wednesday, October 6, 2021National Insurance and dividend tax rises announced for social care reform
From April 2022, the government plans to create a new social care levy which will see UK-wide tax and National Insurance Contribution (NIC) increases.
Wednesday, October 6, 2021Chancellor to deliver Autumn 2021 Budget on 27 October
HM Treasury has announced that Chancellor Rishi Sunak will deliver the Autumn 2021 Budget on Wednesday 27 October.
Wednesday, October 6, 2021Chancellor warned of redundancies as furlough scheme ends
The government's Coronavirus Job Retention Scheme (CJRS) ended on 30 September after supporting millions of workers during the pandemic.
Wednesday, October 6, 2021COVID-19 sick pay rebate scheme closed in September
The government's scheme that enables small businesses to recoup statutory sick pay costs caused by COVID-19 closed at the end of September.
Wednesday, October 6, 2021£800 million Reinsurance Scheme opens for live events
The government has opened a £800 million Reinsurance Scheme to cover live events against cancellations stemming from the COVID-19 pandemic.
Wednesday, October 6, 2021Government announces plans to make requesting flexible working a day one right
UK workers could get more choice over when and where they work under new proposals to make the right to request flexible working a day one entitlement.
Wednesday, October 6, 2021British Business Bank provided £80.5 billion of COVID-19 support
COVID-19 emergency finance schemes offered £80.5 billion of finance to almost 1.7 million businesses through the British Business Bank (BBB) during the last financial year.
Wednesday, October 6, 2021HMRC outlines changes to late payment penalty regime
HMRC has published a policy paper outlining the forthcoming changes to the penalties for late payment and interest harmonisation for taxpayers.
Monday, September 6, 2021Digital marketplaces to report sellers' incomes from 2023
HMRC has published a consultation that outlines plans to implement reporting rules for digital platforms first put forward by the Organisation for Economic Co-operation and Development (OECD).
Monday, September 6, 2021CIOT warns over stamp duty refund claims
The CIOT has warned that some claims being made by firms offering help with Stamp Duty Land Tax (SDLT) refunds are too good to be true.
Monday, September 6, 2021Contactless limit to increase to £100
The national roll-out of the new £100 spending limit for contactless card payments will begin from 15 October 2021, banking trade body UK Finance has confirmed.
Monday, September 6, 2021HMRC urges taxpayers to stay alert to digital scams
HMRC has urged taxpayers to stay alert to the threat of digital scams and scammers claiming to represent HMRC.
Monday, September 6, 2021BCC calls for government to extend skills training
The BCC has urged the government to extend skills training in light of the publication of research which showed that one in five companies are considering making redundancies as a result of the coronavirus (COVID-19) pandemic.
Monday, September 6, 2021Advisory fuel rates for company cars
New company car advisory fuel rates have been published and took effect from 1 September 2021.
Monday, September 6, 2021Employers 'named and shamed' for paying less than minimum wage
The government has 'named and shamed' 191 companies that have broken National Minimum Wage (NMW) laws.
Monday, September 6, 2021Consultation launched on self-employed basis period reform
HMRC has recently launched a consultation on how basis periods can be reformed for income tax for the self-employed.
Thursday, August 5, 2021The government has published draft Finance Bill clauses
The Government has published draft clauses for the next Finance Bill, which broadly cover pre-announced policy changes.
Thursday, August 5, 2021Claiming the fifth self-employed Income Support Scheme (SEISS) grant
HMRC has issued guidance on claiming the fifth and final self-employed Income Support Scheme (SEISS) grant.
Thursday, August 5, 2021ICAEW urges HMRC to scrap exemptions to simplify VAT rules
The ICAEW has urged HMRC to abolish all VAT exemptions and remove all VAT options relating to land and property.
Thursday, August 5, 2021HMRC updates Salary Sacrifice guidance
HMRC has updated the guidance on salary sacrifice.
Thursday, August 5, 2021Data reveals 1.9 million workers remain on furlough
The Coronavirus Job Retention Scheme (CJRS) is being wound down on 30 September 2021.
Thursday, August 5, 2021Pension scams average losses now over £50,000
According to the latest figures from Action Fraud the average loss from pension scams has reached £50,949 this year.
Thursday, August 5, 2021Increase in public trust in charities
Public trust in charities has reached its highest level since 2014, according to research published by the Charity Commission.
Thursday, August 5, 2021Furlough scheme starts to wind down
The government's Coronavirus Job Retention Scheme (CJRS) begins winding down from 1 July.
Tuesday, July 6, 2021Apprenticeship cash boost
The government has confirmed that employers of all sizes in England can now apply for £3,000 in extra funding to help them take on new apprentices.
Tuesday, July 6, 2021Property tax changes
From 1 July 2021 there are changes to the Stamp Duty Land Tax (SDLT) and Land Transaction Tax (LTT) bands for residential property.
Tuesday, July 6, 2021HMRC launches 13,000 investigations into COVID-19 support schemes
HMRC has launched nearly 13,000 investigations into alleged abuse of the government's coronavirus (COVID-19) financial support schemes.
Tuesday, July 6, 2021Schemes create one stop shop for VAT on EU trade
Three schemes were launched on 1 July to deal with VAT on business-to-consumer supplies of goods and services to EU customers.
Tuesday, July 6, 2021Over 280,000 families now using Tax-Free Childcare
More than 282,000 working families used a Tax-Free Childcare (TFC) account during March 2021, according to figures from HMRC.
Tuesday, July 6, 2021440,000 tax credit claimants still to renew their claims
HMRC is reminding tax credit claimants that they have until 31 July 2021 to renew their claims.
Tuesday, July 6, 2021800,000 claim tax relief for working from home
HMRC has confirmed that almost 800,000 employees who have been working from home during the pandemic have already claimed tax relief on household related costs.
Tuesday, July 6, 2021Fifth SEISS grant will be open to claims from late July
The online claims service for the fifth SEISS grant will be open from late July 2021.
Monday, June 7, 2021HMRC's VAT Deferral New Payment Scheme to close this month
Businesses that deferred VAT payments last year have less than a month left to join online and pay in monthly instalments under the VAT Deferral New Payment Scheme.
Monday, June 7, 2021NIC reliefs set for Freeports
Freeport operators will be able to take advantage of a zero rate of secondary national insurance contributions (NICs) for employees.
Monday, June 7, 2021Government confirms start date for Plastic Packaging Tax
The UK government has confirmed that its plastic packaging tax (PPT) will come into force on 1 April 2022.
Monday, June 7, 2021Effectiveness of OTS set to be reviewed by Treasury
The Treasury has launched a review into the effectiveness of the Office of Tax Simplification (OTS).
Monday, June 7, 2021Trade credit insurance scheme to close
The temporary Trade Credit Reinsurance (TCR) scheme that helped struggling supply chain firms secure insurance protection during the pandemic will close at the end of June.
Monday, June 7, 2021Advisory fuel rates for company cars
New company car advisory fuel rates have been published and took effect from 1 June 2021.
Monday, June 7, 2021Forms P11D - reporting employee benefits
The forms P11D which report details of benefits and some expenses provided to employees and directors for the year ended 5 April 2021, are due for submission to HMRC by 6 July 2021.
Monday, June 7, 2021