The government has been slow to recover losses of £1.1 billion from fraud and error in Covid grant schemes, according to MPs in the Public Accounts Committee (PAC). The latest PAC report found that after spending £22.6 billion on business support schemes during the pandemic, the government had only recovered... read more →
Oct
09
Oct
09
Small and medium-sized enterprises (SMEs) are struggling to access finance and working capital, according to a report published by the Association of Chartered Certified Accountants (ACCA). The ACCA's data showed that small firms are struggling to access finance for a range of reasons, including rising interest rates. 57% of firms... read more →
Oct
09
The National Living Wage (NLW) will rise to at least £11 an hour from April 2024, Chancellor Jeremy Hunt has confirmed. The Chancellor confirmed the increase in a speech to the Conservative Party conference and said the rise will benefit two million low paid workers. People aged 23 and over... read more →
Oct
09
The UK’s base rate of interest was held at 5.25% in September as the rate of inflation fell to 6.7% in the year to August 2023. The fall in the rate of inflation surprised economists, who expected it to rise. The Consumer Prices Index (CPI) fell from 6.8% in July... read more →
Oct
09
Small firms will look to the upcoming Autumn Statement for signs that the government understands their operating concerns, says the Federation of Small Businesses (FSB). The business group said that UK businesses need urgent action to help stem the issue of late payment. It says that large corporates use late... read more →
Sep
08
New company car advisory fuel rates have been published and took effect from 1 September 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 →
Sep
08
HMRC has published the latest issue of the Employer Bulletin. The August issue has information on various topics, including: tax relief on employee contributions to registered pension schemes ceasing your PAYE scheme the National Minimum Wage helping customers steer clear of tax avoidance schemes income tax self assessment - preparing... read more →