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Chancellor makes Full Expensing permanent in Autumn Statement
Chancellor Jeremy Hunt used his Autumn Statement to make Full Expensing permanent for those businesses investing in IT equipment, plant and machinery.
Thursday, December 7, 2023National Insurance changes 'ease burden on strivers'
The 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, 2023Autumn Statement cuts won't stop tax revenues rising to highest ever levels
The 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' with MTD programme
HMRC 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, 2023Government agrees to crack down on crypto tax evasion
The UK government has agreed an 'historic' commitment with 48 countries to combat criminals using crypto assets to evade tax.
Thursday, December 7, 2023Real Living Wage to increase by 10%
The Real Living Wage is set to increase by 10%, the Living Wage Foundation has announced.
Thursday, December 7, 2023Rate of inflation falls as interest rates held
UK 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, 2023Advisory fuel rates for company cars
New company car advisory fuel rates have been published and took effect from 1 December 2023.
Thursday, December 7, 2023Chancellor must use Autumn Statement to cement commitment to small firms
The 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, 2023Inflation rate holds steady as UK economy grows
The 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, 2023UK set for biggest tax rise in at least 50 years
The 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, 2023Scams warning issued to 12 million self assessment taxpayers
Self 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 sign up to Prompt Payment Code
Online 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, 2023Hybrid and remote working here to stay
A 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 firms still facing recruitment problems
Many 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, 2023Latest guidance for employers
HMRC has published the latest issue of the Employer Bulletin.
Monday, November 6, 2023Firms looking to Autumn Statement for help with rising operating costs
Small 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, 2023Interest rates held as inflation falls
The 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, 2023National Living Wage to rise from April 2024
The National Living Wage (NLW) will rise to at least £11 an hour from April 2024, Chancellor Jeremy Hunt has confirmed.
Friday, October 6, 2023SMEs 'struggling to access finance'
Small 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, 2023Government slow to recover over £1 billion Covid grant fraud
The 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 urges nearly 430,000 young people to claim Child Trust Fund cash
HMRC 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 receiving net zero help
Less 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, 2023Number of cash transactions rises for first time in a decade
The 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, 2023Inflation falls
The 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, 2023UK set for five years of lost economic growth, warns think tank
The 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, 2023Over a third of households across England will pay higher energy bills this winter
More 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 rewards for whistleblowers, says law firm
HMRC should increase the rewards it pays out to whistleblowers in line with the US system, according to law firm RPC.
Wednesday, September 6, 2023Another million savers to be hit with tax on interest
The 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, 2023Government launches Business Climate Hub
The 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, 2023Latest guidance for employers
HMRC has published the latest issue of the Employer Bulletin.
Wednesday, September 6, 2023Advisory fuel rates for company cars
New company car advisory fuel rates have been published and took effect from 1 September 2023.
Wednesday, September 6, 2023UK inflation falls as economy shrinks in May
The 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, 2023Bank of England raises UK interest rates
The 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 increases late payment interest rate
HMRC has increased interest rates with late payment bills charged 7.5% from 11 July, the highest rate since 2001.
Monday, August 7, 2023CMA scheme will force retailers to publish live fuel prices
A 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 Child Trust Funds still unclaimed
Almost 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 named as first UK Investment Zone
South Yorkshire has been named as the UK's first Investment Zone by Chancellor Jeremy Hunt.
Monday, August 7, 2023Tax down on pints but up on wines and spirits in Alcohol Duty overhaul
The largest overhaul of alcohol duty in 140 years sees drinks taxed by strength rather than category from 1 August.
Monday, August 7, 2023HMRC gives £1.8 million a year to charities to help excluded taxpayers
The 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 extends deadline for voluntary NICs
HMRC has extended the voluntary national insurance contributions (NICs) deadline until April 2025.
Thursday, July 6, 2023HMRC closes self assessment helpline for three months
HMRC 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, 2023MTD expected to cost £1 billion more than originally forecast
A 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, 2023UK inflation stays at 8.7%
The 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, 2023Bank of England raises UK base interest rate
The 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, 2023More than 200 companies named and shamed for minimum wage breaches
Over 200 employers have been named by the government for failing to pay their lowest paid employees the minimum wage.
Thursday, July 6, 2023Post-Brexit trade plan must be replaced, says think tank
The 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, 2023Industrial strategy required to 'focus on innovation', says IoD
The 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, 2023UK rate of inflation fell sharply in April
The UK rate of inflation fell to 8.7% in April from 10.1% in March.
Monday, June 5, 2023Don't miss out on a tax refund for work expenses, HMRC urges
HMRC is urging employed workers to make sure they don't miss out when they claim a refund on work-related expenses.
Monday, June 5, 2023Number of early self assessment filers doubles in five years
The 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, 2023HMRC increases late payment interest rate
Following 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, 2023'Fresh thinking' needed in regard to MTD for ITSA
The 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, 2023One in five workers will be higher rate taxpayers by 2027, says IFS
The 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, 2023Energy suppliers urged to renegotiate fixed contracts for small businesses
The Federation of Small Businesses (FSB) has urged energy suppliers to renegotiate fixed contracts for small firms on market-peak tariffs.
Monday, June 5, 2023Advisory fuel rates for company cars
New company car advisory fuel rates have been published and took effect from 1 June 2023.
Monday, June 5, 2023Online VAT filing portal to close in May
HMRC 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 falls to 10.1% in March
UK inflation has dropped, but remains in double-digit levels, as the cost-of-living crisis eased slightly in March.
Monday, May 8, 2023Tax threshold freeze trebles to £25 billion
Research 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, 2023PAC criticises government for billions lost to error and fraud
The Public Accounts Committee (PAC) has criticised the government for losing billions of taxpayers' money to fraud and error in pandemic support.
Monday, May 8, 2023No sign of hiring difficulties easing, says BCC
Businesses 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 lost to impersonation scams in 2022
£177.6 million was lost to impersonation scams in 2022, data published by trade association UK Finance has revealed.
Monday, May 8, 2023Workers must be protected from decisions made by AI, TUC says
The Trades Union Congress (TUC) has stated that UK employees must be protected from workplace decisions made by artificial intelligence (AI) systems.
Monday, May 8, 2023Latest guidance for employers
HMRC has published the latest issue of the Employer Bulletin.
Monday, May 8, 2023Capital allowances reformed in 'Budget for growth'
A £27 billion transformation of capital allowances from April was announced by Chancellor Jeremy Hunt as he delivered a 'Budget for growth'.
Wednesday, April 5, 2023Business groups welcome Spring Budget
The UK's business groups largely welcomed the measures taken in the Chancellor's Spring Budget.
Wednesday, April 5, 2023HMRC issues guidance on abolition of pensions lifetime allowance
HMRC recently issued preliminary guidance in regard to the abolition of the pensions lifetime allowance.
Wednesday, April 5, 2023Bank of England raises UK interest rates
Interest 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 late payment interest rate
HMRC has revised interest rates with late payment bills charged 6.75% from 13 April, the highest level since January 2008.
Wednesday, April 5, 2023Taxpayers given more time for voluntary national insurance contributions
The 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 confirmed for Wales
Two freeports have been confirmed for Wales by the UK and Welsh governments.
Wednesday, April 5, 2023Small businesses at risk as energy costs rise
The 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, 2023HMRC sounds warning on new VAT penalties
HMRC is reminding VAT-registered businesses to file their VAT returns and pay on time ahead of new penalties being applied.
Monday, March 6, 2023Spring Budget must ease cost pressures on businesses, says BCC
The British Chambers of Commerce (BCC) has urged Chancellor Jeremy Hunt to use the upcoming Spring Budget to help ease cost pressures on small businesses.
Monday, March 6, 2023Inflation remains close to 40-year high
Inflation remains close to a 40-year high despite falling in January, according to the latest data from the Office for National Statistics (ONS).
Monday, March 6, 2023UK economy narrowly avoided recession last year
The UK narrowly avoided falling into recession in 2022 after the economy saw zero growth between October and December, according to the latest figures from the Office for National Statistics (ONS).
Monday, March 6, 2023Record 11.7 million tax returns received on time
A record 11.7 million self assessment taxpayers submitted their tax returns by the 31 January deadline, HMRC has revealed.
Monday, March 6, 2023'Digital pound' likely to launch this decade, says Treasury
The Treasury and the Bank of England (BoE) have suggested that a state-backed 'digital pound' is likely to be launched this decade.
Monday, March 6, 2023HMRC urges eligible couples to claim Marriage Allowance
HMRC has reminded married couples eligible for the Marriage Allowance to make use of the tax relief.
Monday, March 6, 2023Advisory fuel rates for company cars
New company car advisory fuel rates have been published and took effect from 1 March 2023.
Monday, March 6, 2023Energy bill support for firms to be reduced from April
Businesses will receive reduced support for their energy bills from April.
Monday, February 6, 2023Bank of England raises interest rates to highest level in 14 years
The Bank of England (BoE) has raised the base rate of interest.
Monday, February 6, 2023Government launches consultation on R&D relief
The government has launched a consultation on simplifying the UK's research and development (R&D) tax relief system, driving innovation and growing the economy.
Monday, February 6, 2023Fewer firms investing in training despite skills shortage
Fewer firms are increasing their investment in training and development despite a skills shortage, according to a survey by the Confederation of British Industry (CBI).
Monday, February 6, 2023UK business confidence plummets to 13 year low
The UK's business confidence has dropped to a 13 year low, according to a survey conducted by the Institute of Chartered Accountants in England and Wales (ICAEW).
Monday, February 6, 2023Small firms 'facing challenges when applying for financing'
Many small firms in the UK face challenges when it comes to finding and applying for funding, according to a report published by the Federation of Small Businesses (FSB).
Monday, February 6, 2023BCC warns SME exporters 'under tightening pressure'
The British Chambers of Commerce (BCC) has warned that small and medium-sized enterprises (SMEs) that export are facing 'tightening pressure' as a result of decreasing export sales.
Monday, February 6, 2023Pensioners outnumber young people for filing self assessment tax returns
HMRC has revealed that more pensioners filed a tax return for the 2020/21 tax year compared to young people.
Monday, February 6, 2023MTD for ITSA delayed for two more years
The Treasury has announced that Making Tax Digital for income tax self assessment (MTD for ITSA) will be delayed for two more years until April 2026.
Saturday, January 7, 2023Tax non-compliance during pandemic
Tax non-compliance during the pandemic cost the UK government £9 billion, according to a report from the National Audit Office (NAO).
Saturday, January 7, 2023Government extends mortgage guarantee scheme
The Mortgage Guarantee Scheme will be extended by a year to the end of December 2023, helping people with 5% deposits on to the property ladder, the UK government has announced.
Saturday, January 7, 2023Chancellor announces Spring Budget date
Chancellor Jeremy Hunt has announced that the Spring Budget will be delivered on 15 March 2023.
Saturday, January 7, 2023Bank of England raises base rate
The Bank of England (BoE) has raised UK interest rates by half a percentage point to 3.5%.
Saturday, January 7, 2023Brexit deal not delivering for businesses
Over half of UK companies currently face difficulties in adapting to the new rules for trading goods with the EU, according to a British Chambers of Commerce (BCC) survey.
Saturday, January 7, 2023Plymouth and South Devon freeport gets go ahead
The Plymouth and South Devon freeport has received final government approval.
Saturday, January 7, 2023Chancellor launches financial sector reforms
Chancellor of the Exchequer Jeremy Hunt is set to unveil over 30 regulatory reforms to the UK's financial sector, the government has announced.
Saturday, January 7, 2023