Business News

This section contains the latest business news stories.

Middle East conflict drives economic confidence to new record low

Business leader optimism over prospects for the UK economy is at a record low after the outbreak of war in the Middle East, according to the Institute of Directors (IoD).

Tourist tax would hit consumers with £1.6 billion tax rise

The government's proposed tourist tax would constitute a £1.6 billion tax increase for holidaymakers, according to analysis by Oxford Economics.

Government unveils crackdown on late payments

Small businesses are to be backed by new, stronger measures to tackle late payments, the government has announced.

UK government to review mileage rates

The government has confirmed it will review approved mileage rates for business users ahead of a future Budget.

Save on Easter childcare with Tax-Free Childcare

HMRC is urging families to sign up for Tax-Free Childcare (TFC) before booking their Easter holiday childcare.

New tax year brings contentious changes

The start of the new tax year on 6 April 2026 will bring contentious changes with it, warns the Chartered Institute of Taxation (CIOT).

Inflation rate unchanged in February, but figures 'already old news'

The UK inflation rate remained at 3% in the year to February, according to the Office for National Statistics (ONS).

Hundreds of employers handed penalties for illegally underpaying workers

Almost 400 employers from across the UK have been named for failing to pay the minimum wage to tens of thousands of workers, says the government.

HMRC website seeks to close tax knowledge gaps

HMRC has launched a new 'Tax Confident' website which it says will help people fill their tax knowledge gaps.

Bank of England holds interest rates at 3.75%

The Bank of England has voted to hold interest rates at 3.75% in a decision that was widely expected since war broke out in Iran.

Regulation reform offers £9 billion opportunity for small firms

Small businesses spend billions of pounds and millions of hours on red tape - but regulators and the government rarely design rules with them in mind, according to research by the Federation of Small Businesses (FSB).

Government unveils package of youth employment initiatives

The government has unveiled a youth employment drive that aims to create 200,000 jobs for young people and reform apprenticeships.

Expansion of Jobs Guarantee scheme needed now to tackle NEETs crisis

The government must act now and expand the Jobs Guarantee scheme that it is currently piloting to help more young people find work, says the Resolution Foundation.

HMRC takes £137 million in late payment interest

HMRC has taken in over £137 million from late payment interest so far for 2023/24, a freedom of information request from investment platform AJ Bell shows.