Business tax compliance costs £15 billion a year
An increasingly complex tax system is costing UK businesses an estimated £15.4 billion a year in compliance, according to a report from the National Audit Office (NAO). HMRC’s cost of…
Blog Posts
£35m gap in NICs plugged to top up state pensions
People plugging gaps in their National Insurance contributions (NICs) have added £35 million to their State Pensions since last April, according to figures from HMRC. More than 37,000 online payments…
Rate cut brings ‘measure of relief’ to business
Businesses will get a ‘measure of relief’ after interest rates were cut by the Bank of England, says the British Chambers of Commerce (BCC). The Bank cut the base rate…
Government consults on mandatory e-invoicing
The government has launched a consultation on plans for the rollout of electronic invoicing (e-invoicing) in the UK. The 12-week consultation is being jointly conducted by HMRC and the Department…
HMRC cuts late and repayment interest rates
HMRC will reduce late payment and repayment interest rates from 25 February following the cut in the base rate. The Bank of England cut the base rate to 4.5% on…
Higher than expected inflation underlines business challenges
The higher-than-expected rise in the rate of inflation underlines the real challenges businesses face, according to the British Chambers of Commerce (BCC). The consumer prices index (CPI) measure of inflation…
Love is in the Air – Tax advantages of romance
It’s Valentine’s Day! With romance in the air and couples pondering whether to tie the knot we thought we would take you through some of the financial implications for couples,…
Parliamentary watchdog accuses HMRC of deliberately ‘degrading’ phone services
Parliament’s spending watchdog has accused HMRC of deliberately running down its phone services to force people to go online, according to a report. The Public Accounts Committee’s (PAC) report into…
Labour market challenges remain as wages grow
The UK labour market remains challenging as employers cut staff numbers and wage growth accelerated, according to the latest data from the Office for National Statistics (ONS). Average weekly earnings…
IMF upgrades UK’s economic outlook
The International Monetary Fund (IMF) has upgraded its growth forecast for the UK economy this year. The global institution upgraded its prediction for UK growth to 1.6% for this year…
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