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Latest News for Business (Archive)

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

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