People should check their National Insurance contributions (NICs) record to see if they can boost their state pension entitlement before 5 April 2025, warns the Low Incomes Tax Reform Group (LITRG). For a limited time, certain people are able to…
Activity in the private sector is expected to fall for the fourth consecutive quarter, according to a Growth Indicator from the Confederation of British Industry (CBI). Business volumes in the services sector are expected to decline to -23%, and distribution…
Chancellor Rachel Reeves has set herself a trap with self-imposed fiscal rules that could force her into tax hikes and deeper spending cuts as the economy deteriorates, the Institute for Fiscal Studies (IFS) has warned. The Chancellor’s rules around borrowing…
The government’s proposed amendments to the Employment Rights Bill will do little to alleviate employer concerns, warns the Institute of Directors (IoD). Changes to a number of proposals, including application of zero-hours contracts to agency workers and Statutory Sick Pay,…
25,000 first-time buyers are predicted to miss the 31 March stamp duty deadline, according to property website Rightmove. This is based on homes priced up to £625,000, which is the current maximum stamp duty threshold to be considered a first-time…
The financial benefits of MTD for VAT could be as high as £915 million, according to analysis carried out by HMRC. Since April 2022 all VAT-registered businesses should be using MTD compatible software to keep digital records and submit returns. HMRC…
The reporting threshold for trading income for self assessment is being lifted from £1,000 to £3,000 gross within this parliament, according to the Treasury. This includes people trading clothes online, dog-walking or gardening on the side, driving a taxi, or…
The higher-than-expected rise in the rate of inflation underlines the real challenges businesses face, according to the British Chambers of Commerce (BCC). The consumer prices index (CPI) measure of inflation rose to 3% in January, up from 2.5% in December,…
HMRC will reduce late payment and repayment interest rates from 25 February following the cut in the base rate. The Bank of England cut the base rate to 4.5% on 6 February, triggering a 0.25% cut in HMRC interest rates…
New company car advisory fuel rates have been published and took effect from 1 March 2025. The guidance states: ‘you can use the previous rates for up to one month from the date the new rates apply’. The rates only…
