Relief at HMRC’s reversal of helpline closures
Posted on Friday, April 5th, 2024
HMRC’s decision to halt its plans to restrict taxpayer helplines and direct people to online services instead has been met with relief by the Federation of Small Businesses (FSB). The tax authority had announced that it was... Read Full Article...
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Jeremy Hunt cuts NICs again in the Spring Budget
Posted on Friday, April 5th, 2024
The Chancellor made further changes to National Insurance contributions (NICs) following the cuts made in the Autumn Statement 2023. The rates for NICs will be cut by two percentage points for both employees and the self-employed from... Read Full Article...
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Business groups say challenges remain despite encouraging Budget
Posted on Friday, April 5th, 2024
The UK’s business groups warned that challenges remain despite the Chancellor delivering an encouraging Spring Budget. The British Chambers of Commerce (BCC) said that while the cut to NICs would ‘boost jobs’ it had failed to ‘shift... Read Full Article...
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New HMRC R&D tax relief guidance ‘could be clearer’, says ICAEW
Posted on Friday, April 5th, 2024
New guidance from HMRC on Research and Development (R&D) tax relief ‘could be clearer’, according to the Institute of Chartered Accountants in England and Wales (ICAEW). HMRC’s draft guidance covers the restriction applying for contractor payments and... Read Full Article...
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Bank holds interest rates as inflation and economy show improvement
Posted on Friday, April 5th, 2024
The Bank of England held interest rates at 5.25% despite continued falls in the rate of inflation and a return for growth for the UK economy in January. The Bank’s Monetary Policy Committee (MPC) voted by eight... Read Full Article...
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HMRC’s services having a negative impact on SME productivity
Posted on Friday, April 5th, 2024
The productivity and efficiency of SMEs is suffering as a result of poor HMRC services, according to members of the Association of Chartered Certified Accountants (ACCA). In a survey of ACCA members, 66% said that poor HMRC... Read Full Article...
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New measures aim to ‘break the spell’ of fraudsters
Posted on Friday, April 5th, 2024
New measures aim to ‘break the spell’ of financial fraudsters by giving payment providers more time, according to draft legislation published by the government. Until now, payment service providers such as banks have generally been required to... Read Full Article...
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The National Minimum Wage is the single most successful economic policy in a generation, says think tank
Posted on Friday, April 5th, 2024
The introduction of the UK’s National Minimum Wage (NMW) in 1999 is the single most successful economic policy in a generation, according to the Resolution Foundation. The NMW has increased the pay of the UK’s lowest paid... Read Full Article...