Higher energy prices due to the conflict in the Middle East are set to make the median working-age British household £480 worse off this year, according to the Resolution Foundation. The think tank based its estimates on market-forecasts for the…
Vaping-related businesses and supply chains need to register now for Vaping Products Duty (VPD) and the Vaping Duty Stamps (VDS) Scheme, says HMRC. Businesses need to provide the required information now to register for HMRC approval and begin the process…
There is now less than a year to go before all employers must tax benefits-in-kind via the payroll, the Chartered Institute of Taxation has warned. Benefits-in-kind are non-cash benefits provided by employers to employees or directors. Common benefits include company…
The government’s proposed tourist tax would constitute a £1.6 billion tax increase for holidaymakers, according to analysis by Oxford Economics. The modelling, which was commissioned by UKHospitality, assumed a 5% levy is fully realised by 2030. It showed a £2.2…
The government has confirmed it will review approved mileage rates for business users ahead of a future Budget. The announcement comes after more than a decade without change - despite rising fuel, insurance and maintenance costs leaving many workers covering…
The government’s new procurement rules that target opportunities for smaller businesses offer hope to SMEs, according to the British Chambers of Commerce (BCC). Government departments have, for the first time, set individual spending targets for SMEs to deliver over £7.4…
HMRC is urging families to sign up for Tax-Free Childcare before booking their Easter holiday childcare. More than 542,000 families saved money on their childcare in December, the tax authority says. Working families who sign up to Tax-Free Childcare can…
Small businesses to be backed by new, stronger measures to tackle late payments, the government has announced. The Small Business Commissioner will be given sweeping new powers to investigate poor payment practices, adjudicate payment disputes, and fine the worst offenders…
Self-employed women in the UK earn £51 less per day than men on average, according to IPSE, the self-employed association. This means that the average self-employed woman working full time could be £12,266 worse off per year compared to a…
HMRC has launched a new ‘Tax Confident’ website which it says will help people fill their tax knowledge gaps. The tax authority says the site is designed around real-life situations, helping people to find information that is relevant to their…
