Government pushes back economic statement
Posted on Thursday, November 17th, 2022
Chancellor of the Exchequer Jeremy Hunt has delayed the announcement of the government’s economic plan until 17 November. The Medium-Term Fiscal Plan was due to be delivered by the Chancellor in the Commons on 31 October, along... Read Full Article...
New PM must restore confidence, say business groups
Posted on Thursday, November 17th, 2022
The UK’s new Prime Minister Rishi Sunak must restore confidence in the country’s economy, say business groups. Mr Sunak will have to deal with a range of issues stemming from inflation and the cost-of-living crisis. Business groups... Read Full Article...
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Inflation returns to 40-year high
Posted on Thursday, November 17th, 2022
The rate of inflation rose to 10.1% in September as the economy felt the effects of rising prices and the fallout from the Mini Budget, according to the Office for National Statistics (ONS). The ONS said the... Read Full Article...
FCA warns that eight million are struggling to keep up with bills
Posted on Thursday, November 17th, 2022
Almost six in ten UK adults are struggling to keep up with their bills, according to new research from the Financial Conduct Authority (FCA). The research estimates that 7.8 million people were struggling to keep up with... Read Full Article...
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IoD survey finds UK businesses anticipate growth in exports
Posted on Thursday, November 17th, 2022
A survey conducted by the Institute of Directors (IoD) has found that 42% of UK businesses that trade internationally expect to see an increase in their exports over the coming year. The survey also revealed that 47%... Read Full Article...
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Self assessment clock ticks down to under 100 days
Posted on Thursday, November 17th, 2022
HMRC has reminded taxpayers that they are now less than 100 days until the deadline for self assessment online return submission. Self assessment taxpayers have until 31 January 2023 to submit their online return for the 2021/22 tax... Read Full Article...
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Latest guidance for employers
Posted on Thursday, November 17th, 2022
HMRC has published the latest issue of the Employer Bulletin. The October issue has information on various topics, including: the reduction in the rate of National Insurance contributions making PAYE Settlement Agreement payments and using the PSA1 online... Read Full Article...
British Business Bank lending now exceeds £12 billion
Posted on Thursday, November 17th, 2022
The British Business Bank (BBB) was supporting £12.2 billion of lending to over 96,000 businesses at the end of March 2022, according to its annual report. As part of its role in reducing regional imbalances the BBB... Read Full Article...
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Government abandons plan to scrap 45p top rate of income tax
Posted on Thursday, November 17th, 2022
The government has abandoned its plan to abolish the 45% top rate of income tax due to the negative reaction it has received. Chancellor Kwasi Kwarteng first announced the policy in the Mini Budget on 23 September. He... Read Full Article...
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Chancellor outlines growth measures at Mini Budget
Posted on Thursday, November 17th, 2022
Chancellor Kwasi Kwarteng used the 2022 Mini Budget to announce a series of tax cuts for businesses and individuals. The Chancellor confirmed that the 1.25% rise in national insurance contributions (NICs) that came in this year will be... Read Full Article...
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