Latest News

More than £20 billion could be added to the UK economy in the future from the number of additional businesses created during the pandemic, according to research carried out by the Confederation of British Industry (CBI). Around 800,000 companies were registered in the...

The government has introduced legislation to Parliament, which it says will enhance the competitiveness of the UK financial services sector and unlock tens of billions of pounds of investment. The Financial Services and Markets Bill repeals hundreds of pieces of EU...

Insurer Zurich UK has stated that there has been a significant increase in the number of fraudulent claims as a result of the cost-of-living crisis. Zurich found that between 1 January and 31 May 2022, the number of fraudulent property claims rose by 25% compared to...

The Institute of Directors (IoD) has called on the government to extend the capital allowances super-deduction. Data published by the IoD found that the super-deduction has had 'a positive and measurable impact' since it was introduced at Budget 2021. The data showed...

The British Chambers of Commerce (BCC) has called for action to help firms employ more staff amidst recruitment difficulties. A survey carried out by the business group revealed that 61% of firms are looking to recruit more employees, but many are facing difficulties...

The International Monetary Fund (IMF) has warned that the UK faces the slowest rate of growth in the G7 next year. The IMF predicts that UK economic growth will fall to 0.5% in 2023, which is considerably lower than its previous prediction of 1.2%, which was forecast...

The level at which people start paying national insurance rose from £9,880 to £12,570 from 6 July. According to the government, 30 million people across the UK will benefit from this tax cut. It says the increase will lift 2.2 million people out of paying any personal...

The Recovery Loan Scheme (RLS) will be relaunched during August 2022 as the government aims to continue supporting recovering small businesses. The RLS launched in April 2021 and was originally scheduled to run until 31 December 2021. At Autumn Budget 2021, the...

Eligible married couples, and those in civil partnerships, could reduce their tax by up to £252 a year by signing up to the Marriage Allowance. HMRC have urged taxpayers to remember this benefit in a press release from 2nd August, and to check if they are eligible to...

The launch of the Trust Registration service is less than a month away, and HMRC has confirmed that it will take a ‘soft landing’ approach to penalties in the first instance. Initially, fines will be waived if HMRC identifies accidental non-compliance, illustrating...

A new publicly accessible Register of Overseas Entities has come into force as of 1st August 2022 through the Economic Crime (Transparency and Enforcement) Act 2022. The register, which is held by Companies House, requires overseas entities that own UK land or...

The government has ruled out making any changes to the definitions of employment status for tax purposes, as there are fears costs for businesses could be increased. The 2018 consultation on worker status sought views on the employment status framework, focusing on...