Business News

27 May 2022

Chancellor announces windfall tax on energy firms

Chancellor Rishi Sunak will impose a windfall tax on energy firms alongside a package to help households with the cost-of-living crisis.

26 May 2022

Statistics reveal more than 500,000 families used Tax-Free Childcare in past year

New data published by HMRC has revealed that 512,415 families made use of the Tax-Free Childcare (TFC) scheme in the past year.

25 May 2022

Energy price cap set to rise to £2,800 in October

The energy price cap is now expected to rise to around £2,800 in October, according to the UK's energy regulator.

24 May 2022

Government 'refuses to rule out windfall tax' on oil and gas companies

A Treasury minister has stated that the government 'cannot rule out' a windfall tax on gas and oil companies in order to help with the cost-of-living crisis.

23 May 2022

Ofgem proposals aim to avoid price shocks on energy bills

Household energy bills could change every three months under new plans proposed by the energy regulator Ofgem.

20 May 2022

CBI chief calls for cost-of-living help for people on lower incomes

The government should immediately support those hardest hit by the cost-of living crisis, according to the Confederation of British Industry (CBI).

19 May 2022

HMRC issues £14 million in penalties for minimum wage offences

HMRC issued 580 penalties totalling over £14 million for minimum wage offences during 2020/21, according to a report released by the Department for Business, Energy and Industrial Strategy (BEIS).

18 May 2022

Inflation hits 40-year high of 9%

Inflation has hit its highest level in 40 years amid the deteriorating cost-of-living crisis, according to the latest figures from the Office for National Statistics (ONS).

17 May 2022

Charity warns lowest income households will wait longest for council tax rebate

National Energy Action (NEA) has warned that the poorest households in the UK will wait the longest for the government's £150 council tax rebate.

16 May 2022

Almost 66,500 filed self assessment returns on 6 April

Nearly 66,500 taxpayers filed their 2021/22 self assessment return on the first day of the new tax year, according to figures from HMRC.

13 May 2022

Pension regulator running spot checks on UK employers

Employers suspected of failing to meet their workplace pensions duties are being targeted with spot check inspections by the Pensions Regulator (TPR).

12 May 2022

Inflation takes its toll as UK economy contracts in March

The UK economy contracted by 0.1% in March as surging inflation took a toll on demand, according to the latest figures from the Office for National Statistics (ONS).

11 May 2022

New law to protect access to cash announced in Queen's Speech

New laws to protect access to cash and help victims of financial scams were announced in the Queen's Speech at the state opening of parliament on 10 May.

10 May 2022

Shoppers slow spending as consumer confidence dips

The soaring cost of living has seen consumers slowdown spending, according to the latest retail monitoring report from BRC-KPMG.