Fewer firms investing in training despite skills shortage
Posted on Friday, February 3rd, 2023
Fewer firms are increasing their investment in training and development despite a skills shortage, according to a survey by the Confederation of British Industry (CBI). The survey found that the proportion of firms intending to increase investment... Read Full Article...
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UK business confidence plummets to 13-year low
Posted on Friday, February 3rd, 2023
The UK’s business confidence has dropped to a 13-year low, according to a survey conducted by the Institute of Chartered Accountants in England and Wales (ICAEW). The ICAEW’s latest Business Confidence Monitor (BCM) showed that record high... Read Full Article...
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Small firms ‘facing challenges when applying for financing’
Posted on Friday, February 3rd, 2023
Many small firms in the UK face challenges when it comes to finding and applying for funding, according to a report published by the Federation of Small Businesses (FSB). The FSB’s report found that ‘widespread uncertainty’ exists among... Read Full Article...
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BCC warns SME exporters ‘under tightening pressure’
Posted on Friday, February 3rd, 2023
The British Chambers of Commerce (BCC) has warned that small and medium-sized enterprises (SMEs) that export are facing ‘tightening pressure’ as a result of decreasing export sales. The BCC’s quarterly Trade Confidence Outlook report, which polled more than... Read Full Article...
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Pensioners outnumber young people for filing self assessment tax returns
Posted on Friday, February 3rd, 2023
HMRC has revealed that more pensioners filed a tax return for the 2020/21 tax year compared to young people. Overall, those aged 65 and over accounted for 16% of individuals who submitted a tax return, whereas 16... Read Full Article...
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MTD for ITSA delayed for two more years
Posted on Tuesday, January 10th, 2023
The Treasury has announced that Making Tax Digital for income tax self assessment (MTD for ITSA) will be delayed for two more years until April 2026. MTD for ITSA was due to take effect from April 2024... Read Full Article...
Tax non-compliance during pandemic cost UK £9 billion
Posted on Tuesday, January 10th, 2023
Tax non-compliance during the pandemic cost the UK government £9 billion, according to a report from the National Audit Office (NAO). HMRC redeployed around 1,350 workers to Covid-19 support schemes throughout 2020/21, shrinking the number of those working on... Read Full Article...
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Government extends mortgage guarantee scheme
Posted on Tuesday, January 10th, 2023
The Mortgage Guarantee Scheme will be extended by a year to the end of December 2023, helping people with 5% deposits on to the property ladder, the UK government has announced. Under the scheme, the government offers... Read Full Article...
Chancellor announces Spring Budget date
Posted on Tuesday, January 10th, 2023
Chancellor Jeremy Hunt has announced that the Spring Budget will be delivered on 15 March 2023. Mr Hunt stated that he has commissioned the Office for Budget Responsibility (OBR) to prepare an economic forecast to accompany the... Read Full Article...
Bank of England raises base rate to 3.5%
Posted on Tuesday, January 10th, 2023
The Bank of England (BoE) has raised UK interest rates by half a percentage point to 3.5%. It is the ninth consecutive increase and takes the base rate to its highest level for 14 years as the Bank... Read Full Article...