Red tape, rising costs and increasing regulation are holding back exports, a survey of UK businesses carried out by the British Chambers of Commerce (BCC) has found. Current customs checks and declarations present 'barriers to exporting', according to 49% of firms polled. An additional 40% of businesses said taxes and... read more →
Jan
04
With less than a month to go to the self assessment deadline 5.7 million taxpayers have been urged to file their 2022/23 tax returns by HMRC. HMRC data shows almost 6.5 million customers have already beaten the self assessment clock by filing their tax return. This includes 49,317 taxpayers who... read more →
Jan
04
HMRC recently updated its guidance on off payroll working compliance for employers. The new guidance sets out 'practical steps' for organisations to follow. It affects employers who are responsible for operating off payroll working rules and who engage workers who provide their services through their own intermediary. The guidance states... read more →
Jan
04
The UK is at risk of recession after revised figures showed the economy shrank between July and September, according to data from the Office for National Statistics (ONS). Gross domestic product, which measures the health of the economy, contracted by 0.1% after previous estimates suggested growth has been flat. Meanwhile,... read more →
Jan
04
Chancellor Jeremy Hunt will deliver the 2024 Spring Budget on 6 March, the government has confirmed. The Budget will include the government's tax and spending plans as well as new growth and borrowing forecasts. It could be the last chance for the government to announce significant changes to tax policy... read more →
Dec
04
New company car advisory fuel rates have been published and took effect from 1 December 2023. The guidance states: ‘you can use the previous rates for up to one month from the date the new rates apply’. The rates only apply to employees using a company car. The advisory fuel... read more →
Dec
04
UK inflation fell to a two-year low while the base rate of interest was unchanged by the Bank of England for the second month in a row. The Office for National Statistics (ONS) found that the UK's rate of Consumer Price Index inflation fell to 4.6% from 6.7% in September.... read more →