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The latest tax, employment, business and economic news affecting firms and individuals alike. Updated each day.
ICAEW calls for taskforce to tackle HMRC backlog
“Unacceptable delays” are stifling the UK’s economic growth.
HMRC pauses MTD for ITSA pilot
The decision will allow the tax authority to refresh its testing strategy.
PM restructures departments to boost the economy
New departments will focus on supporting growth and achieving net zero.
HMRC raises interest rates on tax debt
The new penalties will apply from 21 February.
Company insolvencies surge in 2022
Insolvency figures hit 2,190 – their highest level since 2009.
Bank of England raises interest rates to 4%
The latest increase is the highest base rate in 14 years.
Directors’ economic confidence rises
Business leader confidence hits its highest level since March 2022.
Millions of taxpayers leave returns until the last minute
2.7 million self-assessment customers were yet to file just hours before the deadline.
HMRC publishes updated VAT penalty regime
The updated penalty system came into effect on 3 January.
Chancellor outlines four ‘Es’ to grow the economy
Hunt suggests taxes won’t be cut until inflation is under control.