Over half a million young people are yet to lay claim to Child Trust Funds worth an average of £2,212, HMRC has said. Child Trust Funds are long term, tax-free savings accounts which were set up, with the government depositing…
The new Growth and Skills Levy must end the ‘cycle of policy failure’ in addressing Britain’s chronic skills shortages, according to the Resolution Foundation. The think tank says the government must get its design and implementation right if it’s to boost…
The government has announced an overhaul of the UK's apprenticeship system. A new growth and skills levy which will replace the existing apprenticeship levy and include new foundation apprenticeships. The government says these new apprenticeships will give young people a…
An estimated £5.5 billion was lost due to tax evasion during 2022/23, according to a report published by the National Audit Office (NAO). The NAO stated that 'significant weaknesses' in government systems have left the UK 'too open' to tax evasion. According…
The Resolution Foundation has suggested that reforms to inheritance tax (IHT), capital gains tax (CGT) and national insurance (NI) could raise more than £20 billion a year. The Foundation said that the reforms could also pass a 'triple tax test' of improving…
Chancellor Rachel Reeves must tackle barriers to growth in the Autumn Budget, says the Federation of Small Businesses (FSB). The FSB is calling on the Chancellor to deliver a decisively pro-small business Budget, saying SMEs are ‘sick of stagnation’. The…
Businesses have been banned from withholding tips or service charges from their staff under new rules that came into force on 1 October. All tips, whether in cash or by card, must now be shared between workers by law in…
The end of business rates relief will sting hospitality with a £928 million bill in April unless the government acts in the Budget, warns UKHospitality. Hospitality and leisure businesses face their bills quadrupling if business rates relief ends as planned…
The Chancellor should use her Autumn Budget to make off-payroll working rules 'fairer and more effective', according to the Association of Independent Professionals and the Self-Employed (IPSE). IPSE says that the rules, commonly known as IR35, are still causing significant disruption…
The 5p cut in fuel duty to be scrapped in the upcoming Autumn Budget, according to the RAC The motoring organisation says that motorists in the UK are 'not gaining any benefit' and retailers have failed to pass on lower petrol and…
