The UK economy shrank for the second month in a row in October, according to the Office for National Statistics (ONS). Official figures showed a 0.1% drop in gross domestic product (GDP) for October. The economy had been expected to…
The Chancellor will deliver her Spring Statement to the House of Commons on Wednesday 26 March 2025. Rachel Reeves confirmed the date to the House of Commons, telling MPs that the Office for Budget Responsibility (OBR) has been commissioned for…
HMRC could save an estimated 1.7 million hours of call handlers’ time every year if it implemented an automated status tracking system, according to two of the leading bodies for tax advisers and chartered accountants. A joint study by the Chartered…
HMRC has published the latest issue of the Employer Bulletin. The December issue has information on various topics, including: employer National Insurance contributions and Employment Allowance changes announced at Autumn Budget 2024 automatic enrolment duties for festive season workers confirming…
Cash use in the shops rose for a second year in a row in 2023 after a decade of falls, according to the British Retail Consortium (BRC). Notes and coins were used in a fifth of transactions last year as…
HMRC is reminding people who pay tax by self assessment of the opportunity to spread the cost of their bill with the Time to Pay facility. More than 15,000 self assessment customers have already set up a Time to Pay…
New company car advisory fuel rates have been published and took effect from 1 December 2024. The guidance states: ‘you can use the previous rates for up to one month from the date the new rates apply’. The rates only…
Optimism amongst the UK’s business leaders has fallen to the lowest point since the height of the pandemic, according to the Institute of Directors (IoD). The IoD’s survey found that business leader confidence in the UK economy fell from -52…
People selling unwanted items online can continue to do so without any new tax obligations, HMRC has confirmed. The reminder comes as online platforms start sharing sales data with HMRC from January 2025 – a new process that, when announced…
HMRC has reduced late payment and repayment interest rates following the cut to the base rate. The Bank of England cut the base rate to 4.75% on 7 November, the second reduction this year. This has triggered a cut in…
