News

24 Feb

Government to name and shame minimum wage offenders

The UK government has reintroduced the naming and shaming of employers who fail to pay their employees the National Minimum Wage (NMW) or the National Living Wage (NLW).

21 Feb

Government pledges additional financial support for flooding victims

The government has pledged thousands of pounds in additional financial support for victims of the recent floods.

20 Feb

UK fast becoming cashless, says report

The UK will become a cashless society within the next 15 years unless the government takes action, according to the Access to Cash Review.

19 Feb

NAO finds tax reliefs cost UK £155 billion per year

Research carried out by the National Audit Office (NAO) has found that UK tax reliefs cost £155 billion per year.

18 Feb

Low take-up of TFC linked to poor understanding of scheme

Research commissioned by HMRC has suggested that low take-up of the Tax-Free Childcare (TFC) scheme is linked to a 'poor understanding' of the initiative.

17 Feb

Small landlords exiting buy-to-let market

Smaller landlords are exiting the buy-to-let market following cuts to tax relief, according to research from estate agency Hamptons International.

14 Feb

Rishi Sunak appointed as new Chancellor

Rishi Sunak has been appointed as Chancellor of the Exchequer following the surprise resignation of Sajid Javid on 13 February.

13 Feb

Flat growth 'should be a warning to government' ahead of Budget, states FSB

The Federation of Small Businesses (FSB) has stated that flat economic growth should serve as a wake-up call to the government ahead of the 2020 Budget.

12 Feb

HMRC carries out fewer dawn raids

The number of dawn raids carried out by HMRC on individuals and businesses dropped last year, according to data published by law firm Pinsent Masons.

11 Feb

CBI publishes Budget wishlist

The Confederation of British Industry (CBI) has published its wishlist ahead of the 2020 Budget, which will be delivered on Wednesday 11 March.

10 Feb

HMRC announces off-payroll changes will not be applied retrospectively

HMRC has announced that changes to the off-payroll rules will only apply to payments made for services provided on or after 6 April 2020.

07 Feb

Finance Minister for Scotland outlines tax plans in Scottish Budget

On 6 February, Public Finance Minister for Scotland, Kate Forbes, outlined plans for Scottish taxation and spending in the 2020/2021 Scottish Budget.

06 Feb

Budget 'must address skills shortages' to boost UK growth, says BCC

The British Chambers of Commerce (BCC) has called for Chancellor Sajid Javid to use next month's Budget to address 'critical skills shortages' in order to 'level up' UK economic growth.

05 Feb

UK business confidence bounces back in January

According to a survey carried out by the Institute of Chartered Accountants in England and Wales (ICAEW), UK business confidence bounced back in January after the election of a majority government saw political uncertainty recede.

04 Feb

Over 950,000 taxpayers miss self assessment deadline

The number of taxpayers who missed the self assessment deadline rose to 958,296 this year, according to data published by HMRC.

03 Feb

Company insolvencies increase to highest level since 2013

According to data from the Insolvency Service, during 2019 the total number of company insolvencies in England and Wales rose to its highest level since 2013.

31 Jan

Chancellor raises NIC threshold to £9,500

The Chancellor of the Exchequer, Sajid Javid, has raised the threshold at which taxpayers start to pay national insurance contributions (NICs) to £9,500 a year.

30 Jan

MTD for VAT proving costly and failing to reduce errors

The implementation of Making Tax Digital for VAT (MTD for VAT) has proved costly and has failed to reduce errors, according to a survey by the Chartered Institute of Taxation (CIOT) and the Association of Taxation Technicians (ATT).

29 Jan

CIOT warns of 'seismic shift' in CGT rules

Residential property sellers with taxable gains must beware major changes to the capital gains tax (CGT) rules, the Chartered Institute of Taxation (CIOT) has warned.

28 Jan

IoD calls for government to publish Brexit negotiating objectives

The Institute of Directors (IoD) has urged the government to publish its negotiating objectives as the UK moves towards the next stage of Brexit talks.

27 Jan

Over three million still to file self assessment returns

HMRC has stated that more than three million taxpayers are yet to file their self assessment tax return despite the deadline looming.

24 Jan

HMRC publishes secondary draft legislation for off-payroll reforms

HMRC has now published draft secondary legislation for the off-payroll working rules that are due to come into force in April this year.

23 Jan

Witchcraft and hamsters amongst worst self assessment excuses

Vengeful witches and pet hamsters feature in HMRC's list of imaginative excuses and expense claims, which has been published in the run up to the self assessment deadline.

22 Jan

Anti-money laundering penalties total £6.2 billion worldwide in 2019

Anti-money laundering (AML) penalties reached a record high of £6.2 billion worldwide last year, according to data from software company Encompass Corporation.

21 Jan

New legislation aims to tackle late payments

New legislation is being introduced to Parliament that aims to tackle late payments and strengthen the powers of the Small Business Commissioner.

20 Jan

Government promises review of student loans repayment system

The government has vowed to undertake a revamp of the current student loans repayment system.

17 Jan

WEF states businesses must take action to combat climate change

In a new report, the World Economic Forum (WEF) has stated that businesses must take action now to tackle climate change.

16 Jan

HMRC issues guidance on recognising phishing emails

HMRC has issued guidance on recognising genuine Revenue contact and phishing emails.

15 Jan

Average household debt higher now than during financial crisis, study suggests

According to a study carried out by the Trades Union Congress (TUC), UK average household debt is now higher than during the 2008 financial crisis.

14 Jan

Data shows UK GDP shrank in November

The UK's GDP fell by 0.3% during November as political uncertainty continued to take its toll on the economy, according to the latest data from the Office for National Statistics (ONS).

13 Jan

Research reveals significant number of UK businesses anticipate a recession in 2020

Research commissioned by finance provider Stenn Group has revealed that a significant number of UK businesses predict a recession in 2020.

10 Jan

Self assessment deadline only three weeks away

The deadline for submitting your 2018/19 self assessment tax return is just 21 days away.

09 Jan

Employees 'losing five days a year' as result of travel disruption

A survey carried out by the Confederation of British Industry (CBI) has suggested that UK workers are losing five days per year as a result of travel delays.

08 Jan

Government launches review into off-payroll working rules

The government has launched a review into the new off-payroll working rules, known as IR35, that are due to come into effect on 6 April 2020.

07 Jan

Chancellor announces post-Brexit Budget date

Chancellor Sajid Javid has announced that he will deliver the 2020 Budget on Wednesday 11 March.

06 Jan

Data reveals many taxpayers filed self assessment returns over festive period

Figures published by HMRC have revealed that a significant number of taxpayers filed their self assessment tax returns over the festive period.

03 Jan

HMRC raises £5 billion from fraud investigations

HMRC raised £5 billion last year through fraud investigations, according to the latest data from the tax authority's Fraud Investigation Service (FIS).

02 Jan

UK minimum wage gets largest ever raise

Millions of UK workers will see their pay rise after the government made the biggest ever cash increase in the legal minimum wage.

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3 days ago

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Our Jan/Feb newsletter is available https://t.co/4TXSlQCRtz We look at the count down to the new off-payroll rules… https://t.co/7eYPzi48Eu

6 days ago

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12 days ago

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Please join us at our Budget breakfast briefing on the 12th March 2020. https://t.co/x77NDdK1G5… The Budget comes a… https://t.co/Whqq0p0t6j

12 days ago

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