HMRC is calling on self assessment taxpayers to remain vigilant to scams that claim to be from the department after receiving 170,000 reports of incidents. The tax authority says that scammers often impersonate HMRC, offering fake refunds or demanding urgent…
HMRC has confirmed that 864,000 self-employed workers and landlords will be pulled into the quarterly reporting rules for Making Tax Digital (MTD) for Income Tax when it comes into force. The first phase of MTD for Income Tax will begin…
HMRC will reduce late payment and repayment interest rates from 27 August following the 0.25% cut in the base rate earlier in the month. The Bank of England cut the base rate to 4% on 7 August, triggering a 0.25%…
HMRC will run a digital campaign to ensure that self assessment taxpayers do not claim tax relief for personal expenditure on 2025/25 tax returns, according to the Institute of Chartered Accountants in England and Wales (ICAEW). HMRC has told the…
The UK labour market continues to weaken, shedding 149,000 jobs over the past 12 months, according to the latest data from the Office for National Statistics (ONS). The number of vacancies, which has now been falling steadily since early 2022,…
President Trump’s decision to charge import duties for low value goods entering the US is a major blow to the UK’s SME exporters, says the British Chambers of Commerce (BCC). Under an Executive Order issued by the President, duties will…
HMRC is encouraging working families to save money by signing up to Tax-Free Childcare and using one of the thousands of facilities accepting it as payment. Tax-Free Childcare means working families can save up to £2,000 annually for each child…
Parents have less than two weeks to tell HMRC their 16-19-year-old is continuing education or training, or their Child Benefit payments will stop. Hundreds of thousands of teenagers will decide on their future after they receive their GCSE results on…
Most UK SMEs are not using salary exchange so are missing out on a potential £2.7 billion in employer National Insurance contributions (NICs) savings, according to insurance broker Howden. Using salary exchange to boost pension contributions and after-tax pay would…
Economic confidence amongst the UK’s business leaders has dropped to an all-time low, according to data from the Institute of Directors (IoD). The IoD Directors’ Economic Confidence Index, which measures business leader optimism in prospects for the UK economy, fell…
