Latest News for Business (Archive) May 2026 Countdown to taxation of benefits-in-kind via the payroll underway UK government to review mileage rates UK businesses should apply now for Vaping Products Duty Government unveils crackdown on late payments New procurement rules offer SMEs hope Pensioners urged to be alert to Winter Fuel Payment scams Higher energy prices could leave typical British households £480 worse off this year Latest guidance for employers April 2026 HMRC investigations doubles additional tax from large businesses HMRC takes £137 million in late payment interest Hundreds of employers handed penalties for illegally underpaying workers Grant boost for installing EV chargers for households and businesses Government unveils package of youth employment initiatives New tax year brings contentious changes HMRC website seeks to close tax knowledge gaps March 2026 Chancellor says plan is right despite uncertain backdrop to Spring Forecast Statement One million miss self assessment deadline Getting tax affairs back on track if self assessment deadline was missed Making Tax Digital for Income Tax biggest tax change since self assessment Major UK banks agree lending package aimed at SMEs Government urged to scrap 'unfair holiday tax' Advisory fuel rates for company cars Latest guidance for employers February 2026 Pubs get 15% business rates relief Tax timebomb poses existential threat to high streets, government warned Self assessment payments via the HMRC app up 65% UK Treasury to regulate cryptocurrency under new legislation UK lenders agree £11 billion SME package Over 4,800 self assessment scams reported UK inflation will fall in 2026 Government must ramp up its growth strategy, says think tank January 2026 Inheritance Tax reliefs threshold to rise to £2.5 million for farmers and businesses E-invoicing will be fundamental change for VAT-registered businesses MTD penalties waived for first year of Income Tax Salary sacrifice changes will impact over three million employees Spring Statement set for 3 March 2026 £725 million UK apprenticeship overhaul targets youth unemployment HMRC offers time to help pay self assessment tax bills Latest guidance for employers December 2025 Chancellor raises £26 billion in Autumn Budget Christmas crafters urged to check tax rules CIOT calls for implementation of IHT transitional gifting rule Self-employed overcounted for decades by official data Bank deposit protection limit to be increased to £120,000 UK could fall behind in net zero race, BCC warns AI will shrink headcount as hiring confidence remains at record low Advisory fuel rates for company cars November 2025 Chancellor should use Budget to reform tax system, IFS says HMRC to resume taking tax owed by debtors directly from their bank accounts Countdown to Vaping Products Duty begins Expert Advisory Panel to provide industry insight on R&D tax relief Digitally excluded can apply for MTD for Income Tax exemption now New tax avoidance law risks missing target, warns CIOT Over 750,000 young people yet to claim savings Latest guidance for employers October 2025 Chancellor urged to cut National Insurance but hike Income Tax in Autumn Budget Budget Board must focus on easing the cost of doing business, says IoD Chancellor to explore reforms to business rates on second premises Covid repayment window opens Companies face prosecution risk as new fraud law comes into force Lowering VAT threshold would be manifesto breach, warns IPSE AI to boost trade by nearly 40% by 2040 if gaps are bridged, says WTO Failed housing transactions cost £1.5 billion a year September 2025 Autumn Budget to be delivered on 26 November Over 850,000 self employed to be pulled into first phase of Making Tax Digital Homebuyers get bogus SDLT claims warning Crackdown on late payments launched in plan to back small businesses SME exporters hit by new US customs charges HMRC splits advisory fuel rates for electric cars Advisory fuel rates for company cars Latest guidance for employers August 2025 HMRC launches online PAYE service Time for taxpayers to get ready for Making Tax Digital for Income Tax HMRC sends side hustle warning HMRC to fine crypto investors £300 for non-disclosure Criminal tax offence plan risks going too far, warns CIOT Watch out for Winter Fuel Payment scams IHT on pensions most unpopular of Labour's tax increases Harsh personal guarantees will chill growth ambitions, warns FSB July 2025 HMRC system attack is a timely reminder to keep personal data safe Government should take more strategic approach to tax policy, says CIOT HMRC names and shames over 500 employers for failing to pay NLW Government introduces Pension Schemes Bill Tax gap estimated at 5.3% UK government launches Industrial Strategy FCA in international crackdown on unlawful finfluencers Latest guidance for employers June 2025 HMRC launches new online help for compliance checks Record numbers file assessment in first week of new tax year Tax and accounting bodies back e-invoicing adoption HMRC cuts late payment interest rate Almost half of sole traders unprepared for MTD changes New cryptoasset rules aim to protect consumers One in four employers plan to make redundancies in next quarter Advisory fuel rates for company cars May 2025 Sole traders and landlords get Making Tax Digital warning Loan charge review calls for evidence Companies House begins to verify identities Chancellor unveils plans to maintain level playing field for British business Tax red tape costs small businesses nearly £25 billion a year Government calls time on red tape for pubs, clubs, and restaurants Government taking right approach to tariff negotiations Latest guidance for employers April 2025 Minimum wage rose on 1 April No further tax increases in Spring Statement Finance Act 2025 receives Royal Assent Side hustle trading threshold raised to £3,000 per year Financial benefit of MTD could be as high as £915 million Chancellor unveils plan to cut red tape Employment reforms continue to stifle business hiring intentions March 2025 Government consults on mandatory e-invoicing Proposed HMRC powers to collect data on hours worked scrapped Business tax compliance costs £15 billion a year Tailored tax reliefs boost alcohol sector Businesses warn of National Insurance 'powder keg' HMRC cuts late and repayment interest rates Latest guidance for employers Advisory fuel rates for company cars February 2025 Parliamentary watchdog accuses HMRC of deliberately 'degrading' phone services Government commissions review of the Loan Charge CIOT calls on government to rewrite unfair VAT rules Pension reforms to 'unlock billions' for government growth agenda UK firms expecting slowdown Employment plan will harm jobs, warns small firms UK economy returns to growth as inflation dips IMF upgrades UK's economic outlook January 2025 HMRC urges self assessment taxpayers to spread the cost HMRC could save millions of hours with tracking system Government launches Industrial Strategy Advisory Council Spring Statement set for 26 March UK economy shrinks for second month in a row Cash usage on the rise for second successive year Over 40,000 file self assessment over the Christmas break Latest guidance for employers December 2024 Permanent business rate cut for high street on the way HMRC warns landlords to disclose earnings No tax changes for online sellers Business frustrated at halt in rollout of digital trade platform Employer NICs rise may have unforeseen consequences Scams warning as self assessment deadline looms HMRC late payment interest cut Advisory fuel rates for company cars November 2024 Chancellor promises to drive growth and raises £40 billion in taxes Autumn Budget - the business reaction National Living Wage rises by 6.7% New tipping law comes into force Make Work Pay threatens employment and growth warns FSB New Growth and Skills Levy must end 'cycle of failure' 10,000 boost State Pension with online payments Latest guidance for employers October 2024 IPSE calls for fairer off-payroll rules in Budget Billion-pound tax bombshell to hit hospitality, warns trade body Reforms to IHT, CGT and NI 'could raise over £20 billion a year' Government announces apprenticeship reforms HMRC urged to take action to defuse side hustle time bomb £5.5 billion lost as a result of tax evasion Young people reminded to reclaim government savings Government cracks down on late payments September 2024 HMRC failing on responsiveness, says Charter report HMRC sends 'nudge letters' to crypto investors HMRC late payment interest cut Scrap fuel duty cut, says RAC Freelancers want to see fairer, simpler tax system from Autumn Budget UK has record number of self-employed workers aged 60 or over Advisory fuel rates for company cars Latest guidance for employers August 2024 Chancellor takes difficult decisions as Budget date set King's Speech pledges to secure economic growth HMRC launches VAT Registration Estimator UK announces National Wealth Fund British Business Bank launches Growth Guarantee Scheme HMRC to send Simple Assessment tax statements to pensioners UK's economic recovery putting down roots Latest guidance for employers July 2024 Business ready to work in partnership with Labour government Tax gap at record high HMRC has not fined a single enabler of offshore tax evasion UK economy grew by more than previously estimated during first quarter Average earnings just £16 a week higher than 2010 EU trade deal not working for UK business, warns BCC UK's investment rates worse than every other G7 country Savers dangerously underestimating minimum cost of retirement June 2024 Next government will need to build trust between HMRC and self-employed Revitalise 'Brand Britain', says CBI HMRC error means self-employed workers could lose out on state pension Taxpayers spend total of 800 years waiting to speak to HMRC Retirees report £119,000 shortfall in pension savings 300,000 file tax returns in the first week of the tax year Inflation falls after UK moves out of recession Advisory fuel rates for company cars May 2024 MTD for Income Tax pilot now live IR35 reforms taking their toll on skilled contractors Government urged to implement reforms to R&D tax system HMRC clarifies tax rules for WFH commuting HMRC launches online voluntary NICs payment service UK borrowing reduces Chancellor's wiggle room More than seven million adults still struggling to pay bills, finds FCA Latest guidance for employers April 2024 Relief at HMRC's reversal of helpline closures Jeremy Hunt cuts NICs again in the Spring Budget Business groups say challenges remain despite encouraging Budget New HMRC R&D tax relief guidance 'could be clearer', says ICAEW Bank holds interest rates as inflation and economy show improvement HMRC's services having a negative impact on SME productivity New measures aim to 'break the spell' of fraudsters The National Minimum Wage is the single most successful economic policy in a generation, says think tank March 2024 HMRC publishes guidance on MTD for ITSA for sole traders and landlords Over one million miss self assessment deadline HMRC warns self assessment taxpayers as scam referrals rise Double-cab pickups go back to being vans as guidance reversed Pensions income needed to retire rises More than 500 firms named and shamed for underpaying staff Latest guidance for employers Advisory fuel rates for company cars February 2024 Government borrowing falls as Chancellor hints at tax cuts in Spring Budget Tax cuts may have to be scrapped due to 'economic bind', warns IFS HMRC sends warning to cryptoasset users Raise VAT threshold to £100,000, says FSB Clarity on new border checks is vital, says BCC Artificial Intelligence will affect jobs and worsen inequality, says IMF Over 50s bucking decline in freelance numbers Only a third of UK adults confident with self assessment January 2024 Spring Budget 2024 date confirmed for 6 March UK at risk of recession after economy shrinks HMRC updates off payroll compliance guidance Countdown for 5.7 million to file their 2022/23 self assessment tax return Red tape, rising costs and regulation 'holding back exports' Businesses say hybrid working is here to stay Latest guidance for employers December 2023 Chancellor makes Full Expensing permanent in Autumn Statement National Insurance changes 'ease burden on strivers' Autumn Statement cuts won't stop tax revenues rising to highest ever levels HMRC is 'Making Tax Difficult' with MTD programme Government agrees to crack down on crypto tax evasion Real Living Wage to increase by 10% Rate of inflation falls as interest rates held Advisory fuel rates for company cars November 2023 Chancellor must use Autumn Statement to cement commitment to small firms Inflation rate holds steady as UK economy grows UK set for biggest tax rise in at least 50 years Scams warning issued to 12 million self assessment taxpayers Online platforms should sign up to Prompt Payment Code Hybrid and remote working here to stay Many firms still facing recruitment problems Latest guidance for employers October 2023 Firms looking to Autumn Statement for help with rising operating costs Interest rates held as inflation falls National Living Wage to rise from April 2024 SMEs 'struggling to access finance' Government slow to recover over £1 billion Covid grant fraud HMRC urges nearly 430,000 young people to claim Child Trust Fund cash Less than 1% of small firms receiving net zero help Number of cash transactions rises for first time in a decade September 2023 Inflation falls UK set for five years of lost economic growth, warns think tank Over a third of households across England will pay higher energy bills this winter HMRC should increase rewards for whistleblowers, says law firm Another million savers to be hit with tax on interest Government launches Business Climate Hub Latest guidance for employers Advisory fuel rates for company cars August 2023 UK inflation falls as economy shrinks in May Bank of England raises UK interest rates HMRC increases late payment interest rate CMA scheme will force retailers to publish live fuel prices Almost a million Child Trust Funds still unclaimed South Yorkshire named as first UK Investment Zone Tax down on pints but up on wines and spirits in Alcohol Duty overhaul HMRC gives £1.8 million a year to charities to help excluded taxpayers July 2023 HMRC extends deadline for voluntary NICs HMRC closes self assessment helpline for three months MTD expected to cost £1 billion more than originally forecast UK inflation stays at 8.7% Bank of England raises UK base interest rate More than 200 companies named and shamed for minimum wage breaches Post-Brexit trade plan must be replaced, says think tank Industrial strategy required to 'focus on innovation', says IoD June 2023 UK rate of inflation fell sharply in April Don't miss out on a tax refund for work expenses, HMRC urges Number of early self assessment filers doubles in five years HMRC increases late payment interest rate 'Fresh thinking' needed in regard to MTD for ITSA One in five workers will be higher rate taxpayers by 2027, says IFS Energy suppliers urged to renegotiate fixed contracts for small businesses Advisory fuel rates for company cars May 2023 Online VAT filing portal to close in May UK inflation falls to 10.1% in March Tax threshold freeze trebles to £25 billion PAC criticises government for billions lost to error and fraud No sign of hiring difficulties easing, says BCC £177.6 million lost to impersonation scams in 2022 Workers must be protected from decisions made by AI, TUC says Latest guidance for employers April 2023 Capital allowances reformed in 'Budget for growth' Business groups welcome Spring Budget HMRC issues guidance on abolition of pensions lifetime allowance Bank of England raises UK interest rates HMRC late payment interest rate Taxpayers given more time for voluntary national insurance contributions Two freeports confirmed for Wales Small businesses at risk as energy costs rise March 2023 HMRC sounds warning on new VAT penalties Spring Budget must ease cost pressures on businesses, says BCC Inflation remains close to 40-year high UK economy narrowly avoided recession last year Record 11.7 million tax returns received on time 'Digital pound' likely to launch this decade, says Treasury HMRC urges eligible couples to claim Marriage Allowance Advisory fuel rates for company cars February 2023 Energy bill support for firms to be reduced from April Bank of England raises interest rates to highest level in 14 years Government launches consultation on R&D relief Fewer firms investing in training despite skills shortage UK business confidence plummets to 13 year low Small firms 'facing challenges when applying for financing' BCC warns SME exporters 'under tightening pressure' Pensioners outnumber young people for filing self assessment tax returns January 2023 MTD for ITSA delayed for two more years Tax non-compliance during pandemic Government extends mortgage guarantee scheme Chancellor announces Spring Budget date Bank of England raises base rate Brexit deal not delivering for businesses Plymouth and South Devon freeport gets go ahead Chancellor launches financial sector reforms December 2022 Tax burden rises following Autumn Statement CBI praises Chancellor for 'delivering stability' in Autumn Statement IFS warns of fall in household incomes OECD warns UK on course for biggest economic downturn Auto-enrolment has helped workers save £114 billion into pensions UK businesses anticipate growth in exports Digital Services Tax has raised £358 million Advisory fuel rates for company cars November 2022 Government pushes back economic statement New PM must restore confidence, say business groups Inflation returns to 40-year high FCA warns that eight million are struggling to keep up with bills IoD survey finds UK businesses anticipate growth in exports Self assessment clock ticks down to under 100 days Latest guidance for employers British Business Bank lending now exceeds £12 billion October 2022 Government abandons plan to scrap 45p top rate of income tax Chancellor outlines growth measures at Mini Budget IMF criticises government over tax plans Government caps business energy bills VAT businesses must be ready for Making Tax Digital filing by November SMEs facing recruitment struggles HMRC raises late payment interest from 11 October Action Fraud warns scammers are exploiting cost-of-living crisis September 2022 HMRC releases more details MTD for Income Tax Ofgem raises energy price cap Treasury Committee warns government against 'flying blind' with Emergency Budget Experts warn inflation could keep rising in 2023 Energy firms call for windfall tax to be scrapped by 2025 TUC urges government to raise NMW Report finds decline in the use of cash is easing Advisory fuel rates for company cars August 2022 Recovery Loan Scheme to be relaunched National insurance threshold rises IMF warns UK is set for slowest rate of growth of G7 countries Reform required to combat staff shortages, says BCC IoD calls for extension of capital allowances super-deduction Insurer warns of rise in fraudulent claims amid cost-of-living crisis New finance legislation aims to unlock investments Pandemic-born businesses could add £20.4 billion to UK economy July 2022 MTD for income tax pilot extended HMRC criticised over IR35 implementation Inflation hits 40-year high Bank of England raises UK interest rates to 13-year high NICs increase has immediate impact on businesses Manufacturers call for support package Latest guidance for employers New homeowners warned over tax refund claims June 2022 Chancellor announces windfall tax on energy firms Energy price cap set to rise to £2,800 in October Inflation hits 40-year high Almost 66,500 filed self assessment returns on 6 April New law to protect access to cash announced in Queen's Speech HMRC issues £14 million in penalties for minimum wage offences Advisory fuel rates for company cars Number of firms in critical financial distress rises sharply
