Business News

This section contains the latest business news stories.

HMRC publishes guidance on MTD for ITSA for sole traders and landlords

HMRC recently published guidance on the Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) requirements for sole traders and landlords.

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Less than 3% of individuals paid CGT over decade to 2020, research shows

Research carried out by the London School of Economics has revealed that less than 3% of adults in the UK paid capital gains tax (CGT) over the last decade to 2020.

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Number of tax fraud cases opened by HMRC fallen by more than half

The number of civil investigations into alleged tax fraud has fallen by more than a half, data has shown.

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Business group urges Chancellor to outline 'sustainable growth plan'

The British Chambers of Commerce (BCC) has urged Chancellor Jeremy Hunt to use the Spring Budget to outline a 'sustainable growth plan'.

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AAT outlines top asks in Budget representation

The Association of Accounting Technicians (AAT) has outlined its wishlist for the upcoming Spring Budget on 6 March.

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HMRC warns self assessment taxpayers as scam referrals rise

HMRC is warning people to be wary of bogus tax refund offers following the self assessment deadline on 31 January.

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UK fell into recession at the end of 2023

The UK economy fell into recession during the final three months of last year, according to the Office for National Statistics (ONS).

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Inflation unchanged but remains top concern for business

UK inflation remained unchanged in January at 4% as food prices fell, according to the latest data from the Office for National Statistics (ONS).

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British families facing a 'triple savings challenge', Foundation warns

A report published by the Resolution Foundation has warned that UK families are facing a 'triple savings challenge' of insufficient 'rainy day' savings of at least £1,000.

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NAO publishes findings on HMRC's monitoring of effectiveness of tax reliefs

The National Audit Office (NAO) has published recommendations on how HMRC monitors the effectiveness of tax reliefs.

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'More ambitious approach' needed towards preserving access to cash

The Federation of Small Businesses (FSB) has stated that a 'more ambitious approach' is needed in regard to making sure access to cash is preserved.

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Pensions income needed to retire rises

The amount needed for a single person to have a moderate retirement has risen to £31,300, according to the Pensions and Lifetime Savings Association (PLSA).

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CBI calls for Chancellor to use Budget to 'build momentum' in the economy

In its Spring Budget submission, the Confederation of British Industry (CBI) has called on Chancellor Jeremy Hunt to 'continue building momentum' in the UK economy and 'put the country on the path to sustainable growth'.

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Small businesses 'finding it harder to access finance'

Research carried out by the Federation of Small Businesses (FSB) has found that small firms are struggling to access finance, with the success rate of finance applications falling by 10% in three months.

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