One in five workers will be higher rate taxpayers by 2027, says IFS
Posted on Tuesday, June 20th, 2023
The number of people paying income tax at 40% or above will reach 7.8 million by 2027/28, according to research published by the Institute for Fiscal Studies (IFS). This represents one in five taxpayers and one in... Read Full Article...
No Comments on One in five workers will be higher rate taxpayers by 2027, says IFS
Energy suppliers urged to renegotiate fixed contracts for small businesses
Posted on Tuesday, June 20th, 2023
The Federation of Small Businesses (FSB) has urged energy suppliers to renegotiate fixed contracts for small firms on market-peak tariffs. Research carried out by the FSB revealed that many small businesses are trapped in contracts that mean... Read Full Article...
No Comments on Energy suppliers urged to renegotiate fixed contracts for small businesses
Advisory fuel rates for company cars
Posted on Tuesday, June 20th, 2023
New company car advisory fuel rates have been published and took effect from 1 June 2023. The guidance states: ‘you can use the previous rates for up to one month from the date the new rates apply’.... Read Full Article...
Online VAT filing portal to close in May
Posted on Thursday, May 11th, 2023
HMRC has reminded businesses that file VAT returns annually that the online VAT filing portal will close from 15 May 2023. The VAT portal closed to standard quarterly filers on 7 November 2022, but was kept open for a... Read Full Article...
UK inflation falls to 10.1% in March
Posted on Thursday, May 11th, 2023
UK inflation has dropped, but remains in double-digit levels, as the cost-of-living crisis eased slightly in March. The annual consumer prices index dropped to 10.1% in March, down from 10.4% in February, the Office for National Statistics (ONS)... Read Full Article...
Tax threshold freeze trebles to £25 billion
Posted on Thursday, May 11th, 2023
Research carried out by think tank the Resolution Foundation has suggested that the size of the UK’s six-year ‘stealth tax’ threshold freeze has nearly trebled to £25 billion. The figure is significantly higher than the previous forecast of £9... Read Full Article...
PAC criticises government for billions lost to error and fraud
Posted on Thursday, May 11th, 2023
The Public Accounts Committee (PAC) has criticised the government for losing billions of taxpayers’ money to fraud and error in pandemic support. The Department for Business and Trade (DBT) is ‘effectively writing off’ nearly £1 billion paid out... Read Full Article...
No Comments on PAC criticises government for billions lost to error and fraud
No sign of hiring difficulties easing, says BCC
Posted on Thursday, May 11th, 2023
Businesses are still facing major difficulties in hiring new staff, according to a survey conducted by the British Chambers of Commerce (BCC). The latest Quarterly Recruitment Outlook (QRO), a survey of more than 5,000 UK firms, found that... Read Full Article...
No Comments on No sign of hiring difficulties easing, says BCC
£177.6 million lost to impersonation scams in 2022
Posted on Thursday, May 11th, 2023
£177.6 million was lost to impersonation scams in 2022, data published by trade association UK Finance has revealed. The data showed that there were 45,367 cases of impersonation scams in 2022. It also revealed that just 51%... Read Full Article...
No Comments on £177.6 million lost to impersonation scams in 2022
Workers must be protected from decisions made by AI, TUC says
Posted on Thursday, May 11th, 2023
The Trades Union Congress (TUC) has stated that UK employees must be protected from workplace decisions made by artificial intelligence (AI) systems. The TUC warned that, in some instances, AI technology is making ‘life-changing’ decisions, including those... Read Full Article...
No Comments on Workers must be protected from decisions made by AI, TUC says