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The latest tax, employment, business and economic news affecting firms and individuals alike. Updated each day.
Sunak sets out ‘plan for growth’ but falls short of immediate support
Chancellor insists the Government “stands ready to do more”.
UK inflation hits 40-year high of 9%
Macroeconomy now businesses’ number one concern.
Regular pay tumbles in first quarter of 2022
Only growth in bonuses keeps total pay growth positive.
GDP fell by 0.1% in March 2022
Fears of recession as monthly GDP contracts.
Over 65,000 file self-assessment on first day
Almost 300,000 more than the first tax day of 2018.
Companies House powers strengthened
Government aims to tackle abuse of limited partnerships.
BCC calls for emergency budget
Budget demanded due to rising costs for businesses.
Bank of England increases interest rates to 1%
Rates rise marks fourth increase in a row from record low.
SMEs not ready for MTD, accountants say
Businesses also unaware of other Government schemes.
Interest on late taxes raised to 3.5%
Move by HMRC follows increase in basic interest rate.