News

23 Oct

IFS calls for Entrepreneurs' Relief to be scrapped

The Institute for Fiscal Studies (IFS) has called for Entrepreneurs' Relief (ER) to be scrapped.

22 Oct

Investors call for clearer climate-related financial reporting

Companies are failing to meet investors' expectations for clearer financial reporting on climate-related issues, according to a new report published by the Financial Reporting Council (FRC).

21 Oct

Government abandons increase in probate fees

The UK government has abandoned its planned increase in probate fees.

18 Oct

Business groups respond to announcement of new Brexit deal

Business groups, including the Confederation of British Industry (CBI), the British Chambers of Commerce (BCC) and the Institute of Directors (IoD) have responded to the government's announcement of a new Brexit deal between the UK and the EU.

17 Oct

HMRC to give importers no-deal Brexit 'breathing space'

HMRC intends to give importers up to six months to submit customs declarations and pay import duties in the event of a no-deal Brexit on 31 October.

16 Oct

HMRC data reveals significant rise in number of R&D tax credit claims

Figures published by HMRC have revealed that the total number of claims for R&D tax credits has increased by 20%.

15 Oct

UK government outlines policies in Queen's Speech

On 14 October, the UK government laid out its policies on trade, crime, the environment and Brexit in the Queen's Speech.

14 Oct

Chancellor announces post-Brexit Budget date

Chancellor Sajid Javid has announced that he will deliver the 2019 Autumn Budget on Wednesday 6 November.

11 Oct

'Lessons must be learned' from loan charge controversy, states ICAEW

The Institute of Chartered Accountants in England and Wales (ICAEW) has stated that 'lessons must be learned' from the controversy surrounding the loan charge.

10 Oct

OECD considering plans to tax tech giants' profits by jurisdiction

Large multinational tech companies would have to pay taxes in the jurisdictions where profits are generated under new tax proposals from the Organisation for Economic Co-operation and Development (OECD).

09 Oct

UK productivity suffers worst drop in five years

Productivity in the UK fell at its fastest annual rate for five years during the second quarter of 2019, according to the Office for National Statistics (ONS).

08 Oct

UK small businesses 'concerned about impact of Brexit on supply chains'

Research carried out by insolvency trade body R3 has suggested that a third of UK small businesses are concerned about the impact Brexit will have on their supply chains.

07 Oct

Banking crime cost over £600 million in first half of 2019

Banking customers lost over £600 million to crime during the first half of 2019, according to data from industry group UK Finance.

04 Oct

UK 'on cusp of recession' after services sector shrinks

The UK economy is 'on the cusp of recession' after the services sector suffered an unexpectedly sharp downturn last month, according to research from IHS Markit.

03 Oct

Inheritance tax 'could be scrapped', Chancellor hints

Chancellor Sajid Javid has suggested that the government 'may be prepared' to scrap inheritance tax (IHT).

02 Oct

Chancellor pledges to increase National Living Wage to £10.50

Chancellor Sajid Javid has pledged to raise the National Living Wage (NLW) to £10.50 within the next five years.

01 Oct

ATT calls for 'urgent clarity' on off-payroll working changes

The Association of Taxation Technicians (ATT) has called for 'urgent clarity' on next April's changes to the off-payroll working rules.

30 Sep

Bank of England hints at interest rate cut

The Bank of England (BoE) may cut interest rates in the near future if the uncertainty around Brexit continues, according to economist Michael Saunders, who is a member of the Monetary Policy Committee (MPC).

27 Sep

FCA finds half of pension pots cashed in 'without advice'

Nearly half of pension pots were accessed without advice or guidance being sought last year, according to the latest retirement income data from the Financial Conduct Authority (FCA).

26 Sep

Committee calls for frequent flyer tax to tackle emissions

A frequent flyer tax should be introduced to help curb the UK's air miles and ensure the country meets its commitments to cutting carbon emissions, according to the Committee on Climate Change (COCC).

25 Sep

BCC finds 'major gaps' in government no-deal Brexit guidance

The British Chambers of Commerce (BCC) has found 'major gaps' in the government's no-deal Brexit guidance for UK businesses.

24 Sep

BRC urges government to take action in regard to rising card fees

The British Retail Consortium (BRC) has urged the government to take action to reduce card fees charged by card companies.

23 Sep

Record inheritance tax take for HMRC

HMRC collected a record sum of £5.4 billion in inheritance tax (IHT) during the 2018/19 tax year, according to figures released by the tax authority.

20 Sep

Experts warn Chancellor over insolvency debts

Prioritising HMRC over other creditors in insolvencies will have a 'negative impact on the UK's economic growth', experts have warned Chancellor Sajid Javid.

19 Sep

FRC writes to finance directors with advice on preparing for Brexit

UK businesses have been urged to review their Brexit plans by the Financial Reporting Council (FRC). The FRC has written to audit committee chairs and finance directors setting out the measures firms should consider.

18 Sep

One in ten employees 'do not receive a payslip'

Almost 10% of UK employees are not receiving payslips, while one in 20 are missing out on their legal holiday entitlement, according to think tank the Resolution Foundation.

17 Sep

UK growth forecast downgraded by ICAEW

The Institute of Chartered Accountants in England and Wales (ICAEW) has downgraded its growth forecast for the UK economy as a result of continuing Brexit uncertainty, falling business investment and declining output.

16 Sep

IoD states businesses facing 'impossible situation' in regard to Brexit

The Institute of Directors (IoD) has urged the government and the EU to 'compromise and chart a way forward' on Brexit, following the publication of research that shows that UK businesses are facing an 'impossible situation' regarding planning.

13 Sep

Think tank calls for tax overhaul

The UK's tax system should be overhauled to bring rates on wealth and assets into line with those on income, according to a report from the Institute for Public Policy Research (IPPR).

12 Sep

Former NAO chief to lead independent review of loan charge

Sir Amyas Morse, the former Chief Executive of the National Audit Office (NAO), will head up an independent review into the controversial loan charge, which will be published by the middle of November.

11 Sep

ICAEW calls for delay to off-payroll working changes

The extension of off-payroll working rules to the private sector should be delayed by a year, according to the Institute of Chartered Accountants in England and Wales (ICAEW).

10 Sep

Pace of tax reform has 'slowed', OECD finds

A new report published by the Organisation for Economic Co-operation and Development (OECD) has found that the pace of tax reform has 'slowed across multiple economies'.

09 Sep

HMRC delays introduction of VAT reverse charge

HMRC has announced a one-year delay to the introduction of the VAT domestic reverse charge for building and construction services.

06 Sep

Tax on sugary snacks 'could be more effective than Soft Drinks Industry Levy'

Experts have suggested that a tax on sugary snacks could be 'more effective' than the Soft Drinks Industry Levy.

05 Sep

Chancellor claims 'austerity is over' as he unveils Spending Review

In his Spending Review, Chancellor Sajid Javid said that 'austerity is over' as he announced significant increases in spending across most government departments.

04 Sep

FSB calls on government to tackle 'business crime crisis'

The Federation of Small Businesses (FSB) has called on the government to make tackling business crime a priority.

03 Sep

HMRC states around 3.5 million individuals 'yet to benefit from Help to Save'

Data published by HMRC has revealed that around 3.5 million individuals are 'yet to benefit' from its Help to Save scheme.

02 Sep

UK businesses 'negative on economic outlook'

Many UK board members believe that the UK's economy will deteriorate over the next year, according to research.

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