Budgets and Statements Archives - WRLO Accountants

Enews – 31 October 2025

WRLO Accountants — Wed, 05 Nov 2025 21:22:24 +0000

In this week’s Enews, there is news on a recommendation from the Low Incomes Tax Reform Group (LITRG) to make it easier for state pensioners to pay tax owed via a Pay as You Earn Scheme. There is also news on Chancellor Rachel Reeves’ ‘blitz on business bureaucracy’ and findings from the British Chambers of Commerce’s (BCC’s) latest Quarterly Recruitment Outlook to update you on. Give State Pension its own PAYE scheme, says LITRG Chancellor announces ‘blitz on business bureaucracy’ Budget should tackle hiring issues, says BCC Give State Pension its own PAYE scheme, says LITRG The Treasury should make it easier for state pensioners to pay any tax they owe with a Pay as You Earn (PAYE) scheme, says the Low Incomes Tax Reform Group (LITRG). The LITRG told the Treasury that there is a ‘pressing need’ to change the way the payments are taxed to make the process easier to understand and manage. This is due to the increasing number of pensioners finding out that they owe income tax on their state pension for the first time. The LITRG has recommended that the State Pension be given its own PAYE scheme, so that any tax is collected at […]

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Employment reforms continue to stifle business hiring intentions

WRLO Accountants — Tue, 01 Apr 2025 09:46:38 +0000

The government’s employment reforms are causing employers to put their hiring plans on hold, according to the Institute of Directors (IoD). The IoD noted that there was a small increase in payrolled employees in the latest Labour market data released by the Office for National Statistics (ONS). Estimates for payrolled employees in the UK increased by 9,000 between December 2024 and January 2025, said the ONS. However, the ONS data also showed static job vacancies and increase in the unemployment rate. Alex Hall-Chen, Principal Policy Advisor for Employment at the Institute of Directors, said: ‘Our data shows that half of business leaders facing higher National Insurance bills plan to reduce employment in response, and that business hiring intentions over the next year remain around lows last seen at the height of the Covid-19 pandemic. ‘The government missed an opportunity at Report Stage of the Employment Rights Bill to show that it has listened to business feedback about how to avoid the reforms damaging employment prospects. ‘The government’s Better Regulation Action Plan is a welcome shift in narrative, but such commitments will ring hollow if the principles are not first applied to its plans to increase the regulation and cost associated […]

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No further tax increases in Spring Statement

WRLO Accountants — Tue, 01 Apr 2025 09:37:04 +0000

Chancellor Rachel Reeves announced ‘no further tax increases’ in the 2025 Spring Statement. The Chancellor’s Autumn Budget contained a record £40 billion in tax increases. However, it did not raise personal taxes including, Income Tax, employee National Insurance contributions or VAT. Ms Reeves had pledged one fiscal event a year and confirmed that no taxes would be raised at the Spring Statement. Instead, the Chancellor made a number of announcements on spending and economic forecasts. The forecast from the Office for Budget Responsibility (OBR) halved the UK’s growth in 2025 from 2% to 1%. However, Ms Reeves pointed out that the Organisation for Economic Co-operation and Development (OECD) downgraded this year’s growth forecast for every G7 economy. The OBR forecasts show that inflation will average 3.2% this year before falling ‘rapidly’, meeting the Bank of England’s 2% target from 2027 onwards. Ms Reeves said that defence spending will increase to 2.5% of GDP, by reducing overseas aid. This means an extra £2.2 billion for the Ministry of Defence in the next financial year to address ‘increasing global uncertainty’. The government will spend a minimum of 10% of the MoD’s equipment budget on innovative technology, boosting production in places such as […]

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