UK economy grew by more than previously estimated during first quarter
Posted on Tuesday, July 9th, 2024
The UK economy grew by more than initially estimated at the start of this year, according to figures from the Office for National Statistics (ONS). The economy grew by 0.7% between January and March 2024, up from... Read Full Article...
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Average earnings just £16 a week higher than 2010
Posted on Tuesday, July 9th, 2024
Real average earnings are just £16 a week higher than they were 14 years ago, according to research conducted by the Resolution Foundation. The think tank said that the UK’s labour market backdrop to the General Election... Read Full Article...
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EU trade deal not working for UK business, warns BCC
Posted on Tuesday, July 9th, 2024
The UK government must stop ‘walking on eggshells’ around improving EU trade ties, the British Chambers of Commerce (BCC) has warned. The new government must improve the current EU-UK trade and co-operation deal in order to boost... Read Full Article...
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UK’s investment rates worse than every other G7 country
Posted on Tuesday, July 9th, 2024
The UK has the lowest rates of investment of any other country in the G7, according to analysis by the Institute for Public Policy Research (IPPR). It found that, compared to the USA, Germany, France, Italy, Canada... Read Full Article...
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Savers dangerously underestimating minimum cost of retirement
Posted on Tuesday, July 9th, 2024
UK savers are dangerously underestimating the minimum amount needed to retire, according to research from pension provider PensionBee. A survey of 1,000 working-age UK adults showed that 23% were unsure of the total pension pot size needed... Read Full Article...
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MTD for Income Tax pilot now live
Posted on Friday, May 3rd, 2024
HMRC’s pilot scheme for Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) is now live. Accountants, agents and individuals are able to sign up to the pilot and test the programme out. The pilot... Read Full Article...
IR35 reforms taking their toll on skilled contractors
Posted on Friday, May 3rd, 2024
One in ten highly skilled freelancers are currently out of work due to the impact of reforms to IR35 tax legislation, according to research published by the Association of Independent Professionals and the Self-Employed (IPSE). IPSE’s survey... Read Full Article...
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Government urged to implement reforms to R&D tax system
Posted on Friday, May 3rd, 2024
The government is being urged to implement reforms to the Research and Development (R&D) tax relief system in order to avoid hurting small companies by the Suffolk Chamber of Commerce. A report released by the Chamber found... Read Full Article...
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HMRC clarifies tax rules for WFH commuting
Posted on Friday, May 3rd, 2024
HMRC has updated guidance on when tax relief is available on travel expenses for staff who work from home. The tax authority is responding to the growth of flexible or hybrid basis working contracts, particularly since the... Read Full Article...
HMRC launches online voluntary NICs payment service
Posted on Friday, May 3rd, 2024
HMRC has launched a new online voluntary NICs payment service. The government says the new service will make it easier for customers to check for and fill any gaps in their National Insurance record to help increase... Read Full Article...
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