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, 2022

UK 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, 2022

Treasury 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, 2022

HMRC 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, 2022

New 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, 2022

Export 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, 2022

Latest guidance for employers

HMRC has published the latest issue of the Employer Bulletin.

Monday, May 9, 2022

Government 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, 2022

Chancellor 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, 2022

Business 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, 2022

OBR 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, 2022

MTD 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, 2022

Bank 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, 2022

UK 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, 2022

Student 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, 2022

CMA 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, 2022

Spring Statement 2022

Chancellor Rishi Sunak presented his first Spring Statement on Wednesday 23 March 2022.

Thursday, March 24, 2022

Spring 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, 2022

Coronavirus 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, 2022

Businesses 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, 2022

Two 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, 2022

HMRC 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, 2022

MPs 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, 2022

Over 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, 2022

Advisory fuel rates for company cars

New company car advisory fuel rates have been published and took effect from 1 March 2022.

Monday, March 7, 2022

COVID-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, 2022

Government 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, 2022

Claims 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, 2022

Consumer 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, 2022

National 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, 2022

No '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, 2022

Scam 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, 2022

BCC 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, 2022

Chancellor 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, 2022

Self 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, 2022

HMRC 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, 2022

Scottish 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, 2022

Welsh government delivers Budget

On 20 December 2021, the Welsh government outlined a Budget to 'build a stronger, fairer and greener Wales'.

Sunday, January 9, 2022

FCA 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, 2022

HMRC latest guidance for employers

HMRC has published the latest edition of the Employer Bulletin.

Sunday, January 9, 2022

Over 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, 2022

HMRC'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, 2021

Government 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, 2021

Three-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, 2021

HMRC 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, 2021

New law introduced to help protect pension savers from scammers

New rules to help protect pension savers from scammers have become law.

Monday, December 6, 2021

Services 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, 2021

Advisory fuel rates for company cars

New company car advisory fuel rates have been published and took effect from 1 December 2021.

Monday, December 6, 2021

Costs '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, 2021

Chancellor 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, 2021

Business groups give mixed response to Budget

Business groups gave a mixed response to Chancellor Rishi Sunak's 2021 Autumn Budget speech.

Monday, November 8, 2021

IFS 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, 2021

Payment 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, 2021

FSB 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, 2021

Applications now open for freeports

Businesses that are planning to operate in the UK's new freeports can now apply to HMRC.

Monday, November 8, 2021

Pensions 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, 2021

Heat 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, 2021

Making 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, 2021

National 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, 2021

Chancellor 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, 2021

Chancellor 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, 2021

COVID-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, 2021

Government 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, 2021

British 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, 2021

HMRC 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, 2021

Digital 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, 2021

CIOT 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, 2021

Contactless 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, 2021

HMRC 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, 2021

BCC 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, 2021

Advisory fuel rates for company cars

New company car advisory fuel rates have been published and took effect from 1 September 2021.

Monday, September 6, 2021

Employers '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, 2021

Consultation 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, 2021

The 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, 2021

Claiming 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, 2021

ICAEW 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, 2021

HMRC updates Salary Sacrifice guidance

HMRC has updated the guidance on salary sacrifice.

Thursday, August 5, 2021

Data 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, 2021

Pension 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, 2021

Increase 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, 2021

Furlough scheme starts to wind down

The government's Coronavirus Job Retention Scheme (CJRS) begins winding down from 1 July.

Tuesday, July 6, 2021

Apprenticeship 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, 2021

Property 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, 2021

HMRC 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, 2021

Schemes 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, 2021

Over 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, 2021

440,000 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, 2021

800,000 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, 2021

Fifth 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, 2021

HMRC'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, 2021

NIC 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, 2021

Government 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, 2021

Effectiveness 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, 2021

Trade 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, 2021

Advisory fuel rates for company cars

New company car advisory fuel rates have been published and took effect from 1 June 2021.

Monday, June 7, 2021

Forms 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