The government is helping families this summer with the cost-of-living crisis by cutting VAT on attractions and meals out. The temporary reduced rate of VAT will cover children's meals, tickets and family attractions. HMRC guidance explains that a temporary reduced rate of VAT of 5%…
Decisive action is needed to tackle the ‘hidden threat’ of crime against businesses damaging growth, according to the British Chambers of Commerce (BCC). Theft, fraud, scams and cyber-attacks are increasingly affecting firms of all sizes and across all sectors, BCC research has found. The business group’s research shows…
The government has announced increases to AMAPs, MAR and self-employed mileage rates, which will be backdated to 6 April 2026. This is the first uprating of the mileage rates in 15 years. The new rates are: an increase from…
The International Monetary Fund (IMF) has upgraded its forecast for the UK's growth this year but warned the Iran war could hit the economy. The growth estimate has been upgraded to 1% from 0.8% for 2026 by the IMF. It…
The UK government’s formal commitment to legislation to stamp out late payments is an historic moment, according to the Federation of Small Businesses (FSB). The FSB says small firms have spent years battling a culture of poor payment practices by…
A record 737,891 taxpayers filed their 2025/26 self assessment returns in April, according to figures from HMRC. The tax authority said that 86,270 taxpayers submitted their return on the first possible day, which was Easter Monday. That made 6 April,…
The government must take the chance to fix the UK’s broken business rates system, says the British Chambers of Commerce (BCC). The business group says anxiety about business rates rose to 41% in its Quarterly Economic Survey for the first…
Prolonged conflict in the Middle East could cost the Treasury up to £8 billion a year through higher debt interest payments and lost tax revenue, warns the Institute for Public Policy Research (IPPR). The think tank says inflation could peak…
Taxpayers who are required to use Making Tax Digital (MTD) for Income Tax from April 2026 should sign up now if they haven’t done so already, says the Institute of Chartered Accountants in England and Wales (ICAEW). Taxpayers who had…
A total of 161 pubs closed across Britain in the first three months of 2026, an equivalent of almost two a day, according to figures from the British Beer and Pub Association (BBPA). The industry body blamed a ‘disproportionate tax…
