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  1. News
  2. Latest News for Business

Latest News for Business (Archive)

December 2023
  • Chancellor makes Full Expensing permanent in Autumn Statement
  • National Insurance changes 'ease burden on strivers'
  • Autumn Statement cuts won't stop tax revenues rising to highest ever levels
  • HMRC is 'Making Tax Difficult' with MTD programme
  • Government agrees to crack down on crypto tax evasion
  • Real Living Wage to increase by 10%
  • Rate of inflation falls as interest rates held
  • Advisory fuel rates for company cars
November 2023
  • Chancellor must use Autumn Statement to cement commitment to small firms
  • Inflation rate holds steady as UK economy grows
  • UK set for biggest tax rise in at least 50 years
  • Scams warning issued to 12 million self assessment taxpayers
  • Online platforms should sign up to Prompt Payment Code
  • Hybrid and remote working here to stay
  • Many firms still facing recruitment problems
  • Latest guidance for employers
October 2023
  • Firms looking to Autumn Statement for help with rising operating costs
  • Interest rates held as inflation falls
  • National Living Wage to rise from April 2024
  • SMEs 'struggling to access finance'
  • Government slow to recover over £1 billion Covid grant fraud
  • HMRC urges nearly 430,000 young people to claim Child Trust Fund cash
  • Less than 1% of small firms receiving net zero help
  • Number of cash transactions rises for first time in a decade
September 2023
  • Inflation falls
  • UK set for five years of lost economic growth, warns think tank
  • Over a third of households across England will pay higher energy bills this winter
  • HMRC should increase rewards for whistleblowers, says law firm
  • Another million savers to be hit with tax on interest
  • Government launches Business Climate Hub
  • Latest guidance for employers
  • Advisory fuel rates for company cars
August 2023
  • UK inflation falls as economy shrinks in May
  • Bank of England raises UK interest rates
  • HMRC increases late payment interest rate
  • CMA scheme will force retailers to publish live fuel prices
  • Almost a million Child Trust Funds still unclaimed
  • South Yorkshire named as first UK Investment Zone
  • Tax down on pints but up on wines and spirits in Alcohol Duty overhaul
  • HMRC gives £1.8 million a year to charities to help excluded taxpayers
July 2023
  • Two new staff members
  • HMRC extends deadline for voluntary NICs
  • HMRC closes self assessment helpline for three months
  • MTD expected to cost £1 billion more than originally forecast
  • UK inflation stays at 8.7%
  • Bank of England raises UK base interest rate
  • More than 200 companies named and shamed for minimum wage breaches
  • Post-Brexit trade plan must be replaced, says think tank
  • Industrial strategy required to 'focus on innovation', says IoD
June 2023
  • UK rate of inflation fell sharply in April
  • Don't miss out on a tax refund for work expenses, HMRC urges
  • Number of early self assessment filers doubles in five years
  • HMRC increases late payment interest rate
  • 'Fresh thinking' needed in regard to MTD for ITSA
  • One in five workers will be higher rate taxpayers by 2027, says IFS
  • Energy suppliers urged to renegotiate fixed contracts for small businesses
  • Advisory fuel rates for company cars
May 2023
  • Online VAT filing portal to close in May
  • UK inflation falls to 10.1% in March
  • Tax threshold freeze trebles to £25 billion
  • PAC criticises government for billions lost to error and fraud
  • No sign of hiring difficulties easing, says BCC
  • £177.6 million lost to impersonation scams in 2022
  • Workers must be protected from decisions made by AI, TUC says
  • Latest guidance for employers
April 2023
  • Capital allowances reformed in 'Budget for growth'
  • Business groups welcome Spring Budget
  • HMRC issues guidance on abolition of pensions lifetime allowance
  • Bank of England raises UK interest rates
  • HMRC late payment interest rate
  • Taxpayers given more time for voluntary national insurance contributions
  • Two freeports confirmed for Wales
  • Small businesses at risk as energy costs rise
March 2023
  • HMRC sounds warning on new VAT penalties
  • Spring Budget must ease cost pressures on businesses, says BCC
  • Inflation remains close to 40-year high
  • UK economy narrowly avoided recession last year
  • Record 11.7 million tax returns received on time
  • 'Digital pound' likely to launch this decade, says Treasury
  • HMRC urges eligible couples to claim Marriage Allowance
  • Advisory fuel rates for company cars
February 2023
  • Energy bill support for firms to be reduced from April
  • Bank of England raises interest rates to highest level in 14 years
  • Government launches consultation on R&D relief
  • Fewer firms investing in training despite skills shortage
  • UK business confidence plummets to 13 year low
  • Small firms 'facing challenges when applying for financing'
  • BCC warns SME exporters 'under tightening pressure'
  • Pensioners outnumber young people for filing self assessment tax returns
January 2023
  • MTD for ITSA delayed for two more years
  • Tax non-compliance during pandemic
  • Government extends mortgage guarantee scheme
  • Chancellor announces Spring Budget date
  • Bank of England raises base rate
  • Brexit deal not delivering for businesses
  • Plymouth and South Devon freeport gets go ahead
  • Chancellor launches financial sector reforms
December 2022
  • Tax burden rises following Autumn Statement
  • CBI praises Chancellor for 'delivering stability' in Autumn Statement
  • IFS warns of fall in household incomes
  • OECD warns UK on course for biggest economic downturn
  • Auto-enrolment has helped workers save £114 billion into pensions
  • UK businesses anticipate growth in exports
  • Digital Services Tax has raised £358 million
  • Advisory fuel rates for company cars
November 2022
  • Government pushes back economic statement
  • New PM must restore confidence, say business groups
  • Inflation returns to 40-year high
  • FCA warns that eight million are struggling to keep up with bills
  • IoD survey finds UK businesses anticipate growth in exports
  • Self assessment clock ticks down to under 100 days
  • Latest guidance for employers
  • British Business Bank lending now exceeds £12 billion
October 2022
  • Government abandons plan to scrap 45p top rate of income tax
  • Chancellor outlines growth measures at Mini Budget
  • IMF criticises government over tax plans
  • Government caps business energy bills
  • VAT businesses must be ready for Making Tax Digital filing by November
  • SMEs facing recruitment struggles
  • HMRC raises late payment interest from 11 October
  • Action Fraud warns scammers are exploiting cost-of-living crisis
September 2022
  • HMRC releases more details MTD for Income Tax
  • Ofgem raises energy price cap
  • Treasury Committee warns government against 'flying blind' with Emergency Budget
  • Experts warn inflation could keep rising in 2023
  • Energy firms call for windfall tax to be scrapped by 2025
  • TUC urges government to raise NMW
  • Report finds decline in the use of cash is easing
  • Advisory fuel rates for company cars
August 2022
  • Recovery Loan Scheme to be relaunched
  • National insurance threshold rises
  • IMF warns UK is set for slowest rate of growth of G7 countries
  • Reform required to combat staff shortages, says BCC
  • IoD calls for extension of capital allowances super-deduction
  • Insurer warns of rise in fraudulent claims amid cost-of-living crisis
  • New finance legislation aims to unlock investments
  • Pandemic-born businesses could add £20.4 billion to UK economy
July 2022
  • MTD for income tax pilot extended
  • HMRC criticised over IR35 implementation
  • Inflation hits 40-year high
  • Bank of England raises UK interest rates to 13-year high
  • NICs increase has immediate impact on businesses
  • Manufacturers call for support package
  • Latest guidance for employers
  • New homeowners warned over tax refund claims
June 2022
  • Chancellor announces windfall tax on energy firms
  • Energy price cap set to rise to £2,800 in October
  • Inflation hits 40-year high
  • Almost 66,500 filed self assessment returns on 6 April
  • New law to protect access to cash announced in Queen's Speech
  • HMRC issues £14 million in penalties for minimum wage offences
  • Advisory fuel rates for company cars
  • Number of firms in critical financial distress rises sharply
May 2022
  • HMRC starts chasing up SEISS overpayments
  • UK government unveils energy strategy
  • Treasury announces it will regulate some forms of cryptocurrency
  • HMRC names avoidance scheme promoters for first time
  • New HMRC one-stop online shop provides taxpayers with tax relief information
  • Export growth is 'stagnant', BCC finds
  • Latest guidance for employers
  • Government inaction on long COVID could cost billions
April 2022
  • Chancellor cuts fuel duty in Spring Statement
  • Business groups give mixed response to Spring Statement
  • OBR updates economic picture
  • MTD for VAT brings in up to an extra £195 million in tax
  • Bank of England raises interest rates for third time in a row
  • UK economic growth to halve this year, warns BCC
  • Student loan repayments for new borrowers to start at £25,000
  • CMA frees leaseholders from rising ground rents
March 2022
  • Spring Statement 2022
  • Spring Statement is the time to act, says CBI
  • Coronavirus SSP Rebate Scheme set to close on 17 March
  • Businesses urged to apply for remaining COVID-19 support grants
  • Two freeports planned for Scotland
  • HMRC raises late payment interest rate
  • MPs call for road pricing to replace motoring taxes
  • Over a million take advantage of extra time to file self assessment returns
  • Advisory fuel rates for company cars
February 2022
  • COVID-19 support grants paid to companies must be included on company tax returns
  • Government scheme gives discounts of up to £5,000 on accounting software
  • Claims portal reopens for Statutory Sick Pay Rebate Scheme
  • Consumer group urges taxpayers to avoid using refund firms to claim tax rebates
  • National insurance rise 'set to squeeze budgets', warns CBI
  • No 'convincing case' for digital UK currency, says House of Lords committee
  • Scam HMRC call reports drop by 97%
  • BCC calls for 'urgent action' to improve UK-EU trade
January 2022
  • Chancellor announces £1 billion fund for businesses
  • Self assessment taxpayers must declare COVID grants on tax returns
  • HMRC waives self assessment penalties for one month to ease COVID-19 pressures
  • Scottish Budget 2022
  • Welsh government delivers Budget
  • FCA to introduce new consumer duty
  • HMRC latest guidance for employers
  • Over 440,000 small firms at risk due to late payment crisis
December 2021
  • HMRC's tax take falls by billions due to pandemic
  • Government sets out tax details on TAM Day
  • Three-day wait for Statutory Sick Pay to return next year
  • HMRC issues warning on self assessment scams
  • New law introduced to help protect pension savers from scammers
  • Services sector continues to recover despite rising costs
  • Advisory fuel rates for company cars
  • Costs 'weighing on businesses' sustainability intentions', FSB finds
November 2021
  • Chancellor delivers Budget to lay foundation for a strong economy
  • Business groups give mixed response to Budget
  • IFS predicts millions to be worse off next year due to tax rises
  • Payment period on residential CGT is doubled
  • FSB warns tax rises threaten recovery from pandemic
  • Applications now open for freeports
  • Pensions experts say a minimum of £10,900 a year needed to retire
  • Heat pump grants worth £5,000 will help replace gas boilers
October 2021
  • Making Tax Digital for Income Tax Self Assessment delayed for a year
  • National Insurance and dividend tax rises announced for social care reform
  • Chancellor to deliver Autumn 2021 Budget on 27 October
  • Chancellor warned of redundancies as furlough scheme ends
  • COVID-19 sick pay rebate scheme closed in September
  • £800 million Reinsurance Scheme opens for live events
  • Government announces plans to make requesting flexible working a day one right
  • British Business Bank provided £80.5 billion of COVID-19 support
September 2021
  • HMRC outlines changes to late payment penalty regime
  • Digital marketplaces to report sellers' incomes from 2023
  • CIOT warns over stamp duty refund claims
  • Contactless limit to increase to £100
  • HMRC urges taxpayers to stay alert to digital scams
  • BCC calls for government to extend skills training
  • Advisory fuel rates for company cars
  • Employers 'named and shamed' for paying less than minimum wage
August 2021
  • Consultation launched on self-employed basis period reform
  • The government has published draft Finance Bill clauses
  • Claiming the fifth self-employed Income Support Scheme (SEISS) grant
  • ICAEW urges HMRC to scrap exemptions to simplify VAT rules
  • HMRC updates Salary Sacrifice guidance
  • Data reveals 1.9 million workers remain on furlough
  • Pension scams average losses now over £50,000
  • Increase in public trust in charities
July 2021
  • Furlough scheme starts to wind down
  • Apprenticeship cash boost
  • Property tax changes
  • HMRC launches 13,000 investigations into COVID-19 support schemes
  • Schemes create one stop shop for VAT on EU trade
  • Over 280,000 families now using Tax-Free Childcare
  • 440,000 tax credit claimants still to renew their claims
  • 800,000 claim tax relief for working from home
June 2021
  • Fifth SEISS grant will be open to claims from late July
  • HMRC's VAT Deferral New Payment Scheme to close this month
  • NIC reliefs set for Freeports
  • Government confirms start date for Plastic Packaging Tax
  • Effectiveness of OTS set to be reviewed by Treasury
  • Trade credit insurance scheme to close
  • Advisory fuel rates for company cars
  • Forms P11D - reporting employee benefits
May 2021
  • Fourth self-employed grant now open for online applications
  • Recovery Loan Scheme opens to businesses
  • Recent changes to IR35 'undermine the self-employed' says IPSE
  • CBI calls for extension of Kickstart Scheme as jobs market remains subdued
  • New 95% mortgage scheme launched
  • New claims required for home working tax relief
  • HMRC sets out penalty regime for SEISS abuse
  • Pension fraud increased to £1.8 million in first quarter of 2021
April 2021
  • Business rates relief extended with £1.5 billion fund
  • Consultations launched on UK's first Tax Day
  • Government publishes details of Finance Bill 2021
  • £20 million SME Brexit Support Fund opens for applications
  • HMRC publishes details of final grants for self-employed
  • National Minimum and Living wages increases
  • UK cuts electric vehicle grants by £500
  • ICAEW urges HMRC to rethink quarterly reports under MTD for corporation tax
March 2021
  • Sunak set out Budget to protect businesses
  • Business groups welcome Budget
  • Late payment penalties for Self Assessment waived until 1 April
  • Online service opens for VAT deferral scheme
  • HMRC clarifies off-payroll rules
  • Domestic VAT reverse charge comes into effect on 1 March
  • Borrowers of Bounce Back loans given six more months for repayments
  • Advisory fuel rates for company cars
  • Spring Budget 2021
February 2021
  • 10.7 million taxpayers submitted their 2019/20 Self Assessment tax returns
  • Rogue employers named and shamed for failing to pay employees the minimum wage
  • Scottish Budget Income Tax
  • Scottish Land and Buildings Transaction Tax
  • Bonus of £1,000 to help businesses take on trainees
  • LITRG calls for a rise in the High Income Child Benefit Charge threshold
  • Government urged by CBI to act on COVID business support ahead of Budget
  • Supreme Court backs small firms on business interruption claims
January 2021
  • Finance Secretary for Scotland outlines spending plans in 2021/22 Scottish Budget
  • Chancellor announces £4.6 billion lockdown grant package
  • Extension of the Job Retention Scheme
  • VAT deferral
  • New action to disrupt promoters of tax avoidance schemes
  • Self assessment deadline approaching
  • Institute of Directors warns Capital Gains Tax rise would adversely affect entrepreneurs
  • Individuals urged to remain vigilant when making festive charitable donations
  • Self-Employment Income Support Scheme
December 2020
  • Get prepared for the end of the Brexit transitional period
  • Virtual Christmas parties will qualify for tax exemption
  • Gifts to employees can be tax-free
  • Minimum Wage Increases from April 2021
  • Advisory fuel rates for company cars
  • Self assessment taxpayers warned to watch out for scammers posing as HMRC
  • HMRC confirms MTD for corporation tax to be mandated from 2026
  • £1 million Annual Investment Allowance cap extended
November 2020
  • Furlough scheme extended
  • Increased support made available for the self employed
  • Chancellor approves grants for businesses closed by lockdown
  • Self assessment customers to benefit from enhanced payment plans
  • Taxpayers claim tax relief for working from home
  • Brexit imports and exports
  • ATT issues last call for firms seeking to use increased Annual Investment Allowance
  • Latest guidance for employers
October 2020
  • Job Support Scheme
  • Winter Economy Plan support for the self-employed
  • VAT deferral and enhanced Time to Pay for self assessment
  • Changes to the Bounce Back Loan and Coronavirus Business Interruption Loan Schemes
  • The VAT reverse charge
  • Ministers announce new grants for businesses affected by local lockdowns
  • New trade arrangements with the EU from 1 January 2021
  • House sales rise following the introduction of stamp duty holiday
September 2020
  • Kickstart Scheme opens for applications
  • Self Employment Income Support Scheme Grants
  • Plastic bag tax charge to be doubled and extended to all retailers
  • More than £30 million lost to pension scams
  • Advisory fuel rates for company cars
  • Eat Out to Help Out - over 64 million meals
  • Self assessment deadlines
  • HMRC latest guidance for employers
August 2020
  • HMRC outlines Job Retention Bonus criteria
  • Treasury sets out next steps for Making Tax Digital
  • Government announces review of business rates scheme
  • Eat Out to Help Out now up and running
  • Scottish government cuts LBTT to help home buyers
  • Wales reduces LTT rate
  • Chancellor asks OTS to review capital gains tax
  • Overclaimed COVID grants
July 2020
  • Chancellor unveils three-point plan for jobs
  • Stamp duty temporarily reduced
  • Flexible furloughing starts on job retention scheme
  • Government expands aid for start-ups and innovators
  • Bank of England increases stimulus package for UK economy
  • FCA confirms further support for consumer credit customers
  • Private sector off-payroll reforms given go ahead for April 2021
  • Late payment crisis has worsened during coronavirus lockdown
June 2020
  • Chancellor announces changes to Job Retention Scheme
  • COVID-19: delay to VAT reverse charge on construction services
  • Loan size increased to £200 million under large business interruption scheme
  • Future Fund launches to give start-ups coronavirus support
  • Coronavirus Statutory Sick Pay Rebate Scheme goes live
  • Changes to insolvency and company law going through Parliament
  • UK sets out post-Brexit tariff regime
  • MPs open inquiry into £155 billion of tax reliefs
May 2020
  • Government launches small business micro loan scheme
  • Lenders relax evidence requirements for business interruption loan scheme applications
  • Job Retention Scheme goes live
  • HMRC releases guidance for self-employed scheme
  • Government launches support finding tool for business
  • OBR predicts UK economy will shrink by over a third
  • Government borrowing could rise to £300 billion
  • HMRC extends late reporting deadline for CGT
April 2020
  • Chancellor's business support packages for coronavirus pandemic
  • Chancellor unveils help for self-employed workers
  • Regulators request delay in corporate reporting
  • HMRC urges businesses using VAT deferral to cancel direct debits
  • Get ready for 30-day returns and payments for residential property gains
  • New tests and new car benefit percentages
  • HMRC delays introduction of off-payroll rules to private sector
  • Rise in contactless card payment limit
March 2020
  • COVID-19: measures for UK businesses
  • Spring Budget 2020
  • Coronavirus measure: Statutory Sick Pay from day one
  • Review confirms off-payroll working rules to go ahead from April 2020
  • IFS calls for Chancellor to raise taxes in upcoming Budget
  • Minimum Wage increases
  • Advisory fuel rates for company cars
  • Don't forget to make tax efficient investments ahead of the tax year end
  • Freeports
  • Additional financial support for flooding victims
February 2020
  • Brexit - transition period
  • Scottish Budget
  • Budget Day 11 March
  • A decade of bizarre excuses and expense claims
  • Off-payroll working
  • Tax relief on professional fees and subscriptions
  • Changes to overdraft fees
  • New right to paid parental bereavement leave
January 2020
  • Chancellor announces Budget date
  • Minimum wage rates announced
  • Review of the Disguised Remuneration Loan Charge
  • Chancellor commits to review of IR35
  • Retiring clinicians payments
  • Guidance on Structures and Buildings Allowance
  • Call for review of High Income Child Benefit Charge
  • Self assessment deadline approaching
  • Current list of deliberate tax defaulters
  • Welsh government publishes Draft Budget
  • Working off-payroll
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01245 231074 or 01268 666180

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