Business News

This section contains the latest business news stories.

HMRC urges families to save money with Tax-Free Childcare

HMRC is encouraging working families to save money by signing up to Tax-Free Childcare and using one of the thousands of facilities accepting it as payment.

UK labour market continues to weaken

The UK labour market continues to weaken, shedding 165,000 jobs since last October, according to the latest data from the Office for National Statistics (ONS).

Hospitality summer jobs down this year

Job postings for temporary work in hospitality this summer are down 25% year-on-year, according to data from the Recruitment and Employment Confederation (REC).

Bank of England cuts interest rates to 4%

The Bank of England has cut interest rates to 4%, taking the cost of borrowing to the lowest level for more than two years.

SME exporters hit by new US customs charges

President Trump's decision to charge import duties for low value goods entering the US is a major blow to the UK's SME exporters, says the British Chambers of Commerce (BCC).

Companies House confirms identity verification rollout to help combat fraud

Companies House is to roll out compulsory identity verification for company directors and people with significant control (PSCs) to help combat fraud and so-called phoenix companies.

Economic confidence plummets to all-time low

Economic confidence amongst the UK's business leaders has dropped to an all-time low, according to data from the Institute of Directors (IoD).

Crackdown on late payments launched in plan to back small businesses

The government is set to tackle late payments to businesses with significant legislative reforms.

Time for taxpayers to get ready for Making Tax Digital for Income Tax

Self-employed taxpayers and landlords should file their 2024/25 tax return early to find out if Making Tax Digital (MTD) will apply to them from next April, says the Low Incomes Tax Reform Group (LITRG).

SMEs missing out on £2.7 billion in National Insurance savings

Most UK SMEs are not using salary exchange so are missing out on a potential £2.7 billion in employer National Insurance contribution (NIC) savings, according to insurance broker Howden.

HMRC launches online PAYE service

HMRC has launched a new online PAYE service, which it says will give 35 million workers more control over their tax affairs.

CGT revenue falls by 18%

Statistics published by HMRC have revealed that Capital Gains Tax (CGT) revenue fell by 18% in the 2023/24 tax year.

IFS calls for 'decisive action' to future-proof pension system

The Institute for Fiscal Studies (IFS) has called for the government to take 'decisive action' to ensure the pension system is future-proofed for the next generation.