HMRC releases more details MTD for Income Tax
Posted on Tuesday, September 20th, 2022
HMRC has published more details on how Making Tax Digital for Income Tax (MTD for IT) will work for buy-to-let landlords and sole traders with qualifying income over £10,000. The new income tax framework for MTD for... Read Full Article...
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Ofgem raises energy price cap by 80%
Posted on Tuesday, September 20th, 2022
Average household energy bills will rise to £3,549 in October following the decision of energy regulator Ofgem to raise the price cap. The record 80% hike will see a typical default tariff customer paying an extra £1,578. The... Read Full Article...
Experts warn inflation could keep rising in 2023
Posted on Tuesday, September 20th, 2022
Economic analysts have warned that the rate of inflation could keep rising in 2023 as a result of rising energy prices. Think tank the Resolution Foundation stated that inflation could go above 15%, whilst investment bank Citi... Read Full Article...
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Energy firms call for windfall tax to be scrapped by 2025
Posted on Tuesday, September 20th, 2022
Trade body Offshore Energies UK (OEUK) has stated that the Energy Profits Levy, also known as the ‘windfall tax’, on UK energy firms should be scrapped by 2025 or it could risk having a ‘detrimental impact’ on investment... Read Full Article...
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TUC urges government to raise NMW ‘immediately’
Posted on Tuesday, September 20th, 2022
The Trades Union Congress (TUC) has called on the government to increase the National Minimum Wage (NMW) rates ‘immediately’ in order to guarantee decent living standards for families. Research carried out by the TUC found that UK... Read Full Article...
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Report finds decline in the use of cash is easing
Posted on Tuesday, September 20th, 2022
Banking trade body UK Finance has revealed that the rapid decline in the use of cash as a form of payment has eased. A report published by UK Finance found that 40.4 billion payments were made in 2021,... Read Full Article...
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Advisory fuel rates for company cars
Posted on Tuesday, September 20th, 2022
New company car advisory fuel rates have been published and took effect from 1 September 2022. The guidance states: ‘you can use the previous rates for up to one month from the date the new rates apply’.... Read Full Article...
Recovery Loan Scheme to be relaunched
Posted on Friday, August 5th, 2022
The Recovery Loan Scheme (RLS) will be relaunched during August 2022 as the government aims to continue supporting recovering small businesses. The RLS launched in April 2021 and was originally scheduled to run until 31 December 2021. At... Read Full Article...
IMF warns UK is set for slowest rate of growth of G7 countries
Posted on Friday, August 5th, 2022
The International Monetary Fund (IMF) has warned that the UK faces the slowest rate of growth in the G7 next year. The IMF predicts that UK economic growth will fall to 0.5% in 2023, which is considerably... Read Full Article...
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Reform required to combat staff shortages, says BCC
Posted on Friday, August 5th, 2022
The British Chambers of Commerce (BCC) has called for action to help firms employ more staff amidst recruitment difficulties. A survey carried out by the business group revealed that 61% of firms are looking to recruit more employees,... Read Full Article...
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