The UK’s professional tax and accounting bodies have backed the adoption of e-invoicing in their responses to a government consultation. The Chartered Institute of Taxation (CIOT) says that HMRC will... read more →
The reporting threshold for trading income for self assessment is being lifted from £1,000 to £3,000 gross within this parliament, according to the Treasury. This includes people trading clothes online,... read more →
The financial benefits of MTD for VAT could be as high as £915 million, according to analysis carried out by HMRC. Since April 2022 all VAT-registered businesses should be using... read more →
The extra costs of the increase in employers’ NICs could cause businesses to respond in ways the government did not intend, the Chartered Institute of Taxation (CIOT) has warned. At... read more →
The government has announced a crackdown on late payments to small businesses and the self-employed. Late payments cost SMEs £22,000 a year on average, according to Smart Data Foundry, while... read more →
The UK economy grew by more than initially estimated at the start of this year, according to figures from the Office for National Statistics (ONS). The economy grew by 0.7%... read more →
The UK’s business groups have pledged to work in partnership with the new Labour government to revitalise the nation’s economy. Labour leader Sir Keir Starmer is the new Prime Minister... read more →