Other News
Permanent business rate cut for high street on the way
The government has published draft legislation to permanently cut business rates for retail, hospitality and leisure properties from 2026.
Wednesday, December 4, 2024HMRC warns landlords to disclose earnings
HMRC has warned landlords to disclose their earnings on self assessment tax returns.
Wednesday, December 4, 2024No tax changes for online sellers
People selling unwanted items online can continue to do so without any new tax obligations, HMRC has confirmed.
Wednesday, December 4, 2024Business frustrated at halt in rollout of digital trade platform
Import and export businesses are frustrated by the government's decision to pause work on the digital trade platform, according to the Institute of Directors (IoD).
Wednesday, December 4, 2024Employer NICs rise may have unforeseen consequences
The extra costs of the increase in employers' NICs could cause businesses to respond in ways the government did not intend, the Chartered Institute of Taxation (CIOT) has warned.
Wednesday, December 4, 2024Scams warning as self assessment deadline looms
HMRC is warning of scam attempts targeting self assessment taxpayers in the run up to the 31 January deadline.
Wednesday, December 4, 2024HMRC late payment interest cut
HMRC has reduced late payment and repayment interest rates following the cut to the base rate.
Wednesday, December 4, 2024Advisory fuel rates for company cars
New company car advisory fuel rates have been published and took effect from 1 December 2024.
Wednesday, December 4, 2024Chancellor promises to drive growth and raises £40 billion in taxes
Chancellor Rachel Reeves pledged to 'invest, invest, invest' to drive growth and 'restore economic stability' in the Autumn Budget.
Tuesday, November 5, 2024Autumn Budget - the business reaction
Business groups have reacted to Chancellor Rachel Reeves' Autumn Budget speech.
Tuesday, November 5, 2024National Living Wage rises by 6.7%
Over three million workers will receive a pay boost after Chancellor Rachel Reeves confirmed the National Living Wage will increase.
Tuesday, November 5, 2024New tipping law comes into force
Businesses have been banned from withholding tips or service charges from their staff under new rules that came into force on 1 October.
Tuesday, November 5, 2024Make Work Pay threatens employment and growth warns FSB
The government's Make Work Pay Bill lacks a pro-growth element and will increase economic inactivity, the Federation of Small Businesses (FSB) has warned.
Tuesday, November 5, 2024New Growth and Skills Levy must end 'cycle of failure'
The new Growth and Skills Levy must end the 'cycle of policy failure' in addressing Britain's chronic skills shortages, according to the Resolution Foundation.
Tuesday, November 5, 202410,000 boost State Pension with online payments
More than 10,000 payments worth £12.5 million have been made through a new digital service to boost people's state pension, HMRC has revealed.
Tuesday, November 5, 2024Latest guidance for employers
HMRC has published the latest issue of the Employer Bulletin.
Tuesday, November 5, 2024IPSE calls for fairer off-payroll rules in Budget
The Chancellor should use her Autumn Budget to make off-payroll working rules 'fairer and more effective', according to the Association of Independent Professionals and the Self-Employed (IPSE).
Monday, October 7, 2024Billion-pound tax bombshell to hit hospitality, warns trade body
The end of business rates relief will sting hospitality with a £928 million bill in April unless the government acts in the Budget, warns UKHospitality.
Monday, October 7, 2024Reforms to IHT, CGT and NI 'could raise over £20 billion a year'
The Resolution Foundation has suggested that reforms to inheritance tax (IHT), capital gains tax (CGT) and national insurance (NI) could raise more than £20 billion a year.
Monday, October 7, 2024Government announces apprenticeship reforms
The government has announced an overhaul of the UK's apprenticeship system.
Monday, October 7, 2024HMRC urged to take action to defuse side hustle time bomb
HMRC has been urged to defuse a tax bombshell threatening online traders, by the Low Incomes Tax Reform Group (LITRG).
Monday, October 7, 2024£5.5 billion lost as a result of tax evasion
An estimated £5.5 billion was lost due to tax evasion during 2022/23, according to a report published by the National Audit Office (NAO).
Monday, October 7, 2024Young people reminded to reclaim government savings
Over half a million young people are yet to lay claim to Child Trust Funds worth an average of £2,212, HMRC has said.
Monday, October 7, 2024Government cracks down on late payments
The government has announced a crackdown on late payments to small businesses and the self-employed.
Monday, October 7, 2024HMRC failing on responsiveness, says Charter report
HMRC is failing on the key metrics of responsiveness, ease and accuracy, according to the annual HMRC Charter report.
Tuesday, September 10, 2024HMRC sends 'nudge letters' to crypto investors
HMRC has 'sent nudge' letters to crypto investors who it suspects have failed to pay the correct tax on their gains, according to the Chartered Institute of Taxation (CIOT).
Tuesday, September 10, 2024HMRC late payment interest cut
HMRC has reduced late payment and repayment interest rates following the cut to the base rate.
Tuesday, September 10, 2024Scrap fuel duty cut, says RAC
The 5p cut in fuel duty to be scrapped in the upcoming Autumn Budget, according to the RAC.
Tuesday, September 10, 2024Freelancers want to see fairer, simpler tax system from Autumn Budget
Freelancers want to see Chancellor Rachel Reeves use the Autumn Budget to move towards a fairer, simpler tax system, according to the Association of Independent Professionals and the Self-Employed (IPSE).
Tuesday, September 10, 2024UK has record number of self-employed workers aged 60 or over
The number of self-employed people aged 60 or over has reached a record level, according to analysis by Rest Less.
Tuesday, September 10, 2024Advisory fuel rates for company cars
New company car advisory fuel rates have been published and took effect from 1 September 2024.
Tuesday, September 10, 2024Latest guidance for employers
HMRC has published the latest issue of the Employer Bulletin.
Tuesday, September 10, 2024Chancellor takes difficult decisions as Budget date set
Chancellor of the Exchequer Rachel Reeves said she was taking difficult decisions after a Treasury spending audit revealed £22 billion of unfunded pledges.
Wednesday, August 7, 2024King's Speech pledges to secure economic growth
The first King's Speech since Labour's victory in the General Election saw the new government pledge that securing economic growth would be its fundamental mission.
Wednesday, August 7, 2024HMRC launches VAT Registration Estimator
HMRC has launched a digital tool to help businesses estimate what registering for VAT may mean for them.
Wednesday, August 7, 2024UK announces National Wealth Fund
The UK government is planning a National Wealth Fund to stimulate private sector investment backed by £7.3 billion in funding through the UK Infrastructure Bank (UKIB).
Wednesday, August 7, 2024British Business Bank launches Growth Guarantee Scheme
The British Business Bank has launched the Growth Guarantee Scheme to help smaller businesses access finance.
Wednesday, August 7, 2024HMRC to send Simple Assessment tax statements to pensioners
HMRC will send Simple Assessment tax statements to pensioners in the next few weeks.
Wednesday, August 7, 2024UK's economic recovery putting down roots
The UK's economic recovery is finally putting 'down roots' after GDP grew faster than expected in May, says the Confederation of British Industry (CBI).
Wednesday, August 7, 2024Latest guidance for employers
HMRC has published the latest issue of the Employer Bulletin.
Wednesday, August 7, 2024Business 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, 2024