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Business ready to work in partnership with Labour government
The UK's business groups have pledged to work in partnership with the new Labour government to revitalise the nation's economy.
Monday, July 8, 2024Tax gap at record high
The UK's tax gap estimate rose to a record to £39.8 billion in 2022/23 as small businesses accounted for almost two thirds of unpaid tax, according to HMRC's data.
Monday, July 8, 2024HMRC has not fined a single enabler of offshore tax evasion
HMRC has not fined a single enabler of offshore tax evasion in five years, data released in response to a Freedom of Information (FOI) request has revealed.
Monday, July 8, 2024UK economy grew by more than previously estimated during first quarter
The UK economy grew by more than initially estimated at the start of this year, according to figures from the Office for National Statistics (ONS).
Monday, July 8, 2024Average earnings just £16 a week higher than 2010
Real average earnings are just £16 a week higher than they were 14 years ago, according to research conducted by the Resolution Foundation.
Monday, July 8, 2024EU trade deal not working for UK business, warns BCC
The UK government must stop 'walking on eggshells' around improving EU trade ties, the British Chambers of Commerce (BCC) has warned.
Monday, July 8, 2024UK's investment rates worse than every other G7 country
The UK has the lowest rates of investment of any other country in the G7, according to analysis by the Institute for Public Policy Research (IPPR).
Monday, July 8, 2024Savers dangerously underestimating minimum cost of retirement
UK savers are dangerously underestimating the minimum amount needed to retire, according to research from pension provider PensionBee.
Monday, July 8, 2024Next government will need to build trust between HMRC and self-employed
The next government must take a direct hand in rebuilding trust between HMRC and the self-employed, according to the Association of Independent Professionals and the Self-Employed (IPSE).
Monday, June 10, 2024Revitalise 'Brand Britain', says CBI
Revitalising 'Brand Britain' in its first 100 days in office should be a priority for the party that wins the General Election, says the Confederation of British Industry (CBI).
Monday, June 10, 2024HMRC error means self-employed workers could lose out on state pension
An HMRC error could mean that some low-income, self-employed workers lose out on their entitlement to National Insurance-related benefits like the state pension, warns the Low Incomes Tax Reform Group (LITRG).
Monday, June 10, 2024Taxpayers spend total of 800 years waiting to speak to HMRC
UK taxpayers spent the equivalent of 800 years on hold to HMRC in 2022/23, according to a report published by the National Audit Office (NAO).
Monday, June 10, 2024Retirees report £119,000 shortfall in pension savings
UK adults face a significant shortfall in their pension savings at retirement compared to what they wanted to retire on, according to research from Standard Life.
Monday, June 10, 2024300,000 file tax returns in the first week of the tax year
Almost 300,000 self assessment taxpayers filed their return in the first week of the new tax year, HMRC has revealed.
Monday, June 10, 2024Inflation falls after UK moves out of recession
The rate of UK inflation fell to 2.3% in the year to April, according to the Office for National Statistics (ONS).
Monday, June 10, 2024Advisory fuel rates for company cars
New company car advisory fuel rates have been published and took effect from 1 June 2024.
Monday, June 10, 2024MTD for Income Tax pilot now live
HMRC's pilot scheme for Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) is now live.
Tuesday, May 7, 2024IR35 reforms taking their toll on skilled contractors
One in ten highly skilled freelancers are currently out of work due to the impact of reforms to IR35 tax legislation.
Tuesday, May 7, 2024Government urged to implement reforms to R&D tax system
The government is being urged to implement reforms to the Research and Development (R&D) tax relief system in order to avoid hurting small companies by the Suffolk Chamber of Commerce.
Tuesday, May 7, 2024HMRC clarifies tax rules for WFH commuting
HMRC has updated guidance on when tax relief is available on travel expenses for staff who work from home.
Tuesday, May 7, 2024HMRC launches online voluntary NICs payment service
HMRC has launched a new online voluntary NICs payment service.
Tuesday, May 7, 2024UK borrowing reduces Chancellor's wiggle room
Higher than expected government borrowing has reduced the Chancellor's 'wiggle room' at a pre-election Budget.
Tuesday, May 7, 2024More than seven million adults still struggling to pay bills, finds FCA
Around 7.4 million people in the UK struggled to pay a bill or a credit repayment in January, according to the Financial Conduct Authority (FCA).
Tuesday, May 7, 2024Latest guidance for employers
HMRC has published the latest issue of the Employer Bulletin.
Tuesday, May 7, 2024Relief at HMRC's reversal of helpline closures
HMRC's decision to halt its plans to restrict taxpayer helplines and direct people to online services instead has been met with relief by the Federation of Small Businesses (FSB).
Monday, April 8, 2024Jeremy Hunt cuts NICs again in the Spring Budget
The Chancellor made further changes to National Insurance contributions (NICs) following the cuts made in the Autumn Statement 2023.
Monday, April 8, 2024Business groups say challenges remain despite encouraging Budget
The UK's business groups warned that challenges remain despite the Chancellor delivering an encouraging Spring Budget.
Monday, April 8, 2024New HMRC R&D tax relief guidance 'could be clearer', says ICAEW
New guidance from HMRC on Research and Development (R&D) tax relief 'could be clearer', according to the Institute of Chartered Accountants in England and Wales (ICAEW).
Monday, April 8, 2024Bank holds interest rates as inflation and economy show improvement
The Bank of England held interest rates despite continued falls in the rate of inflation and a return for growth for the UK economy in January.
Monday, April 8, 2024HMRC's services having a negative impact on SME productivity
The productivity and efficiency of SMEs is suffering as a result of poor HMRC services, according to members of the Association of Chartered Certified Accountants (ACCA).
Monday, April 8, 2024New measures aim to 'break the spell' of fraudsters
New measures aim to 'break the spell' of financial fraudsters by giving payment providers more time, according to draft legislation published by the government.
Monday, April 8, 2024The National Minimum Wage is the single most successful economic policy in a generation, says think tank
The introduction of the UK's National Minimum Wage (NMW) in 1999 is the single most successful economic policy in a generation, according to the Resolution Foundation.
Monday, April 8, 2024HMRC publishes guidance on MTD for ITSA for sole traders and landlords
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 miss self assessment deadline
Over one million self assessment taxpayers missed the filing deadline at midnight on 31 January, according to data published by HMRC.
Monday, March 4, 2024HMRC warns self assessment taxpayers as scam referrals rise
HMRC is warning people to be wary of bogus tax refund offers following the self assessment deadline on 31 January.
Monday, March 4, 2024Double-cab pickups go back to being vans as guidance reversed
Just 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, 2024Pensions income needed to retire rises
The 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, 2024More than 500 firms named and shamed for underpaying staff
The government has named and shamed over 500 UK employers for underpaying their employees.
Monday, March 4, 2024Latest guidance for employers
HMRC has published the latest issue of the Employer Bulletin.
Monday, March 4, 2024Advisory fuel rates for company cars
New company car advisory fuel rates have been published and took effect from 1 March 2024.
Monday, March 4, 2024Government borrowing falls as Chancellor hints at tax cuts in Spring Budget
Government 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 cuts may have to be scrapped due to 'economic bind', warns IFS
Tax 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, 2024HMRC sends warning to cryptoasset users
As 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, 2024Raise VAT threshold to £100,000, says FSB
The 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, 2024Clarity on new border checks is vital, says BCC
The 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 will affect jobs and worsen inequality, says IMF
Artificial 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, 2024Over 50s bucking decline in freelance numbers
Tens 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, 2024Only a third of UK adults confident with self assessment
Just 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, 2024Spring Budget 2024 date confirmed for 6 March
Chancellor Jeremy Hunt will deliver the 2024 Spring Budget on 6 March, the government has confirmed.
Monday, January 8, 2024UK at risk of recession after economy shrinks
The 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 updates off payroll compliance guidance
HMRC recently updated its guidance on off payroll working compliance for employers.
Monday, January 8, 2024Countdown for 5.7 million to file their 2022/23 self assessment tax return
With 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 regulation 'holding back exports'
Red 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, 2024Businesses say hybrid working is here to stay
Less 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, 2024Latest guidance for employers
HMRC has published the latest issue of the Employer Bulletin.
Monday, January 8, 2024Chancellor 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, 2023