News

20 May

£235 billion 'cash mountain' sitting in bank accounts with low interest rates

£235 billion of cash is sitting in low interest bank accounts with rates of under 1%, according to the Bank of England.

17 May

New research reveals 'significant shift in businesses' infrastructure priorities'

Research carried out by the Institute of Directors (IoD) has revealed that business leaders' infrastructure priorities have 'shifted' compared with the situation at the start of the current parliamentary term.

16 May

Taxpayers 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).

15 May

UK lagging behind in global green growth race

The UK is falling behind its international competitors in the race for green growth, the Confederation of British Industry (CBI) has warned.

14 May

HMRC to receive extra £51 million in phone funding

The government has announced an extra £51 million in new funding to bring HMRC's phoneline service back up to the published target of 85% of calls to its advisers being answered.

13 May

Retirees 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.

10 May

UK economy exits recession as interest rates held

The UK economy grew by 0.6% between January and March, according to figures from the Office for National Statistics (ONS).

09 May

300,000 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.

08 May

HMRC 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).

07 May

New customs rules cause confusion and uncertainty

The new customs checks and charges that came into force on 1 May are causing confusion and uncertainty for business, warns the British Chambers of Commerce (BCC).

03 May

UK economy will see slowest growth in G7 next year

The UK will see the slowest growth of the G7 nations next year, the Organisation for Economic Co-operation and Development (OECD) has warned.

02 May

Business leaders' economic confidence rose in April, data shows

Optimism amongst UK business leaders in regard to the UK economy rose in April 2024, data published by the Institute of Directors (IoD) has revealed.

01 May

Business group 'concerned' over impact of new customs charges on small firms

The British Chambers of Commerce (BCC) is concerned over the impact of new customs checks and charges on small firms in the UK.

30 Apr

HMRC launches online voluntary national insurance payment service

HMRC has launched a new online voluntary national insurance payment service.

29 Apr

Business group calls on Ofgem to 'take action' on standing charges

The Federation of Small Businesses (FSB) has called on the energy regulator Ofgem to 'take action' on the standing charges paid by UK small firms.

26 Apr

HMRC 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.

25 Apr

UK borrowing £7.6 billion lower than last year, data shows

Figures have shown that UK borrowing over the last financial year was £7.6 billion lower when compared to the year before.

24 Apr

Inheritance tax receipts hit a record high of £7.5 billion

Data published by HMRC has revealed that inheritance tax (IHT) receipts rose to a record high of £7.5 billion in the 2023/24 tax year.

23 Apr

Small firms confused over upcoming import rules

The government has been accused of confusing small firms before new import rules on plant and food products are introduced, according to the Federation of Small Businesses (FSB).

22 Apr

HMRC launches MTD for Income Tax pilot

HMRC's pilot scheme for Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) launches today (22 April).

19 Apr

Umbrella company regulation in 'precarious position', warns IPSE

Government proposals to enact a due diligence regime for the umbrella company market are in a 'precarious position, unless government shows some urgency, the Association of Independent Professionals and the Self-Employed (IPSE) has warned.

18 Apr

Business price pressures persist, warns BCC

Business price pressures persist despite the UK's inflation rate falling to its lowest level since September 2021.

17 Apr

UK inflation falls to lowest level since September 2021

The UK's annual inflation rate fell in March for a second consecutive month, dropping to 3.2%, according to the latest figures from the Office for National Statistics (ONS).

16 Apr

Small firms 'treading water' on investment, BCC warns

The British Chambers of Commerce (BCC) has warned that UK small firms are 'treading water' on investment.

15 Apr

Government must 'ensure growth among small firms is nurtured', says FSB

The Federation of Small Businesses (FSB) has urged the government to ensure that small business growth is 'nurtured rather than left to wither'.

12 Apr

Only five MTD for ITSA software products ready for testing

The Institute of Chartered Accountants in England and Wales (ICAEW) has warned that just five Making Tax Digital for income tax self assessment (MTD for ITSA) software products are ready for beta testing on 22 April.

11 Apr

More 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).

10 Apr

IR35 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, according to research published by the Association of Independent Professionals and the Self-Employed (IPSE).

09 Apr

PAC challenges HMRC on governance and accountability of MTD

The Public Accounts Committee (PAC) has challenged HMRC on the governance and accountability of the Making Tax Digital (MTD) initiative.

08 Apr

Accessing finance getting more difficult for SMEs

Accessing finance is becoming more difficult for a large number of small and medium-sized enterprises (SMEs), according to new data from the British Chambers of Commerce (BCC).

05 Apr

Government urged to reform Landfill Tax

Think tank Localis has urged the government to reform Landfill Tax to help cut down on waste crime and illegal activity by organised gangs.

04 Apr

Government urged to implement reforms to R&D tax system

A report by the Suffolk Chamber of Commerce has urged the government to urgently implement reforms to Research and Development (R&D) tax relief in order to avoid 'hurting small companies'.

03 Apr

1.6 million pensioners expected to fall into income tax net, according to research

An analysis by the House of Commons library has revealed that up to 1.6 million pensioners are expected to fall into the income tax net in the next four years.

02 Apr

Research suggests SMEs are 'bracing' themselves for tough months ahead

Research carried out by Prism Solutions has suggested that UK small and medium-sized enterprises (SMEs) are bracing themselves for a 'tough few months' ahead.

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