UK economy shrinks for second month in a row
Posted on Friday, December 20th, 2024
The UK economy shrank for the second month in a row in October, according to the Office for National Statistics (ONS). Official figures showed a 0.1% drop in gross domestic product (GDP) for October. The economy had... Read Full Article...
No tax changes for online sellers
Posted on Friday, December 6th, 2024
People selling unwanted items online can continue to do so without any new tax obligations, HMRC has confirmed. The reminder comes as online platforms start sharing sales data with HMRC from January 2025 – a new process... Read Full Article...
Optimism amongst business leaders ‘approaching Covid lows’
Posted on Friday, December 6th, 2024
Optimism amongst the UK’s business leaders has fallen to the lowest point since the height of the pandemic, according to the Institute of Directors (IoD). The IoD’s survey found that business leader confidence in the UK economy... Read Full Article...
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Advisory fuel rates for company cars
Posted on Friday, December 6th, 2024
New company car advisory fuel rates have been published and took effect from 1 December 2024. The guidance states: ‘you can use the previous rates for up to one month from the date the new rates apply’.... Read Full Article...
Scams warning as self assessment deadline looms
Posted on Friday, December 6th, 2024
HMRC is warning of scam attempts targeting self assessment taxpayers in the run up to the 31 January deadline. Last year, concerned taxpayers reported nearly 150,000 scam referrals to HMRC. Around half of all scam reports in... Read Full Article...
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Industrial Strategy must benefit all parts of the UK
Posted on Friday, December 6th, 2024
The UK’s Industrial Strategy must benefit all parts of the country, according to the British Chambers of Commerce (BCC). The government says the Industrial Strategy will be published in Spring 2025, alongside the multi-year Spending Review. The... Read Full Article...
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HMRC late payment interest cut by 0.25%
Posted on Friday, December 6th, 2024
HMRC has reduced late payment and repayment interest rates following the cut to the base rate. The Bank of England cut the base rate to 4.75% on 7 November, the second reduction this year. This has triggered... Read Full Article...
Permanent business rate cut for high street on the way
Posted on Friday, December 6th, 2024
The government has published draft legislation to permanently cut business rates for retail, hospitality and leisure properties from 2026. The tax cut will be funded by a tax rise for the very largest business properties, such as... Read Full Article...
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More than 400,000 student loan customers use digital refund service
Posted on Friday, December 6th, 2024
Over 400,000 customers have now used the Student Loan Company’s (SLC) digital refund service. The SLC introduced a new service into the online account for repayment customers in May 2024 and has released data on the first six... Read Full Article...
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Pension reforms ‘must unlock growth’
Posted on Friday, December 6th, 2024
Pension reforms announced by Chancellor Rachel Reeves must unlock growth, according to the British Chambers of Commerce (BCC). Pension megafunds will be created as part of the biggest set of pension reforms in decades. The government says... Read Full Article...