News

30 Jul

Data reveals nearly two million workers remain on furlough scheme

Ahead of the Coronavirus Job Retention Scheme (CJRS) being wound down over the summer, data published by HMRC has revealed that almost two million workers remain on furlough.

29 Jul

ICAEW urges HMRC to scrap exemptions to simplify VAT rules

In response to HMRC's consultation on simplifying the rules relating to land and property, the Institute of Chartered Accountants in England and Wales (ICAEW) has urged HMRC to abolish all VAT exemptions and remove all VAT options.

28 Jul

Public trust in charities reaches highest level since 2014

Public trust in charities has reached its highest level since 2014, according to research published by the Charity Commission.

27 Jul

SMEs 'keen to invest in growth but struggle to find financial backing', says survey

A survey carried out by the Association of Chartered Certified Accountants (ACCA) and the Corporate Finance Network (CFN) has found that small and medium-sized enterprises (SMEs) are looking to invest in growth but are frustrated by the lack of financial options open to them.

26 Jul

Government announces simplified tax reporting for self-employed and small firms

Changes to the tax system that will make it easier for small businesses to fill out their returns have been announced by the government.

23 Jul

FSB urges government to provide SMEs with better access to support and advice

In a new report, the Federation of Small Businesses (FSB) has called on the government to provide small and medium-sized enterprises (SMEs) with better access to business support and advice.

22 Jul

UK to overhaul funding of research and development

The government is to review the bodies it uses to finance research and development (R&D) in the UK.

21 Jul

HMRC launches consultation on basis period reform

HMRC has recently launched a consultation on how basis periods can be reformed for income tax for the self-employed.

20 Jul

CIOT urges government to make tax system easier to navigate

The Chartered Institute of Taxation (CIOT) has urged the government to use its tax administration review to make the UK tax system easier to navigate for taxpayers.

19 Jul

CBI calls for urgent solution to 'crippling staff shortages'

The government must make immediate changes to the current self-isolation policy as businesses face 'crippling staff shortages', according to the Confederation of British Industry (CBI).

16 Jul

Over 40% of UK employers planning to increase investment in skills

More than 40% of UK employers are planning to increase investment in training compared with pre-COVID levels, according to the 2021 Confederation of British Industry (CBI)/Birkbeck, University of London Education and Skills Survey.

15 Jul

Job vacancies increase to over pre-pandemic levels

There are more job vacancies now than there were before the pandemic, according to the Official for National Statistics (ONS).

14 Jul

High Street sales bounce back in spring

Retail sales bounced during the spring with the quarter from April to June showing record growth, according to the latest figures from the British Retail Consortium (BRC).

13 Jul

Government urged to provide more clarity over reopening

The government has been urged to provide more clarity and further guidance after it confirmed that most lockdown restrictions will end in England on 19 July.

12 Jul

International tax reform backed by 130 countries

An historic deal for a global corporate tax rate of at least 15% has been agreed by 130 countries, the Organisation for Economic Co-operation and Development (OECD) has announced.

09 Jul

HMRC publishes guidance on the fifth SEISS grant

Full details of the fifth Self-employment Income Support Scheme (SEISS) grant, including a new turnover test which determines the level of the grant, have now been published by HMRC.

08 Jul

Average losses from pensions scams now over £50,000

The average loss from pension scams has reached £50,949 this year, according to the latest figures from Action Fraud.

07 Jul

Businesses borrowed £79 billion in COVID-19 support loans

The UK's businesses borrowed a total of £79.3 billion from the government's coronavirus (COVID-19) lending schemes, according to official figures.

06 Jul

Questions remain over re-opening, say business groups

Prime Minister Boris Johnson has said he expects the final stage of England's coronavirus (COVID-19) lockdown roadmap to go ahead on 19 July.

05 Jul

Aftermath of COVID-19 pandemic has caused 'significant rise in costs for businesses'

A survey carried out by the Institute of Chartered Accountants in England and Wales (ICAEW) has revealed that the aftermaths of the coronavirus (COVID-19) pandemic and Brexit have caused a 'huge rise in costs' for UK businesses.

02 Jul

800,000 claim tax relief for working from home

Almost 800,000 employees who have been working from home during the pandemic have already claimed tax relief on household related costs, HMRC has confirmed.

01 Jul

Furlough scheme starts to wind down

The government's Coronavirus Job Retention Scheme (CJRS) begins winding down from 1 July.

30 Jun

13,000 investigations launched into COVID-19 support scheme fraud

HMRC has launched nearly 13,000 investigations into alleged abuse of the government's coronavirus (COVID-19) financial support schemes.

29 Jun

CBI warns of 'perfect storm' of staff shortages

UK businesses face a 'perfect storm' of factors causing staff shortages, the Confederation of British Industry (CBI) has warned.

28 Jun

Schemes create one stop shop for VAT on EU trade

Three schemes will be launched on 1 July to deal with VAT on business-to-consumer supplies of goods and services to EU customers.

25 Jun

Flexible rail fares must be just the start of changes, says BCC

The British Chambers of Commerce (BCC) has welcomed the introduction of flexible season tickets for rail commuters but says more change is needed.

24 Jun

Cash payments fell by over a third during 2020

The number of cash payments made in the UK fell by 35% during 2020, according to the latest figures from banking trade body UK Finance.

23 Jun

UK economy back to pre-covid level by end of year

Despite the delay on the lifting of all lockdown restrictions for another month, the UK economy is set to bounce back to its pre-COVID level towards the end of 2021, according to the latest figures from the Confederation of British Industry (CBI).

22 Jun

UK Infrastructure Bank opens for business

The first ever UK Infrastructure Bank has opened for business with the aim of investing in sectors such as clean energy and transport.

21 Jun

Delayed EU import declarations due

The first supplementary delayed declarations on imports of non-controlled goods from the EU are due from 25 June 2021, HMRC has reminded businesses.

18 Jun

Commercial rent moratorium extended until March 2022

The government is to extend the ban on commercial evictions introduced during the coronavirus (COVID-19) pandemic until March 2022, the Treasury has confirmed.

17 Jun

Over 280,000 families now using Tax-Free Childcare

More than 282,000 working families used a Tax-Free Childcare (TFC) account during March, according to figures from HMRC.

16 Jun

Finance Act 2021 receives early Royal Assent

Royal Assent of Finance Act 2021 was granted on 10 June, bringing the extended loss carry-back, super-deduction and other measures into force.

15 Jun

Business groups press for further support after lockdown easing delayed

The four-week delay to the easing of lockdown in England has prompted business groups to call for further government support for businesses.

14 Jun

HMRC outlines intention to recover £1 billion in fraudulent furlough funds

HMRC has announced that it will recover over £1 billion in fraudulently claimed furlough cash over the next two years.

11 Jun

R&D relief regime ready for update, says ICAEW

The UK's current research and development (R&D) tax relief regime offers valuable support to companies but could be improved, according to a survey carried out by the Institute of Chartered Accountants in England and Wales (ICAEW).

10 Jun

Cash boost for apprenticeships launched

Employers of all sizes in England can now apply for £3,000 in extra funding to help them take on new apprentices, the government has confirmed.

09 Jun

OTS considers moving tax year end

The Office of Tax Simplification (OTS) is set to explore the benefits, costs and wider implications of changing the date of the end of the tax year for individuals.

08 Jun

G7 announces global tax agreement

The G7's finance ministers have announced a historic international agreement on global tax reform.

07 Jun

Bounce Back Loan repayments due for many small businesses

Many small businesses will soon be required to begin repaying loans taken out under the government's Bounce Back Loan Scheme (BBLS).

04 Jun

TUC suggests UK 'lagging behind G7 peers in green jobs plans'

An analysis carried out by the Trades Union Congress (TUC) has suggested that the UK's green jobs and economic recovery plans lag behind the plans of most G7 countries.

03 Jun

Fifth SEISS grant will be open to claims from late July

The fifth Self-employment Income Support Scheme (SEISS) grant covering May 2021 to September 2021 will open to claims from late July, HMRC has confirmed.

02 Jun

Remote working was most common form of working during pandemic, BCC finds

A survey carried out by the British Chambers of Commerce (BCC) has found that remote working was the most popular form of flexible working during the coronavirus (COVID-19) pandemic.

01 Jun

Economic growth accelerates in three months to May

The UK economy grew significantly in the three months to May, according to the latest Growth Indicator from the Confederation of British Industry (CBI).

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