The Financial Conduct Authority (FCA) joined forces with eight international regulators for a week of action to combat the risks of finfluencers on social media. Finfluencers are widespread throughout social media platforms. They promote themselves as successful entrepreneurs in luxurious destinations to lure people into paying for their services such as masterclasses to get rich… Read more…

Sole traders and landlords with an income over £50,000 have been warned that there is less than a year before they will be required to use Making Tax Digital for Income Tax (MTD for IT). HMRC says the launch of MTD for IT on 6 April 2026 will mark a significant and time-saving change in… Read more…

The independent review into the loan charge has issued a call for evidence with examples of promotional material and marketing leaflets a priority for the review team. The review was announced by the Treasury in January and is being led by Ray McCann, a former President of the Chartered Institute of Taxation. It is now… Read more…

A new service has been launched that allows individuals to verify their identity directly with Companies House through GOV.UK. The introduction of identity verification is one of the key changes to company law as part of the Economic Crime and Corporate Transparency Act 2023. Companies House has landmark new and enhanced powers to combat economic… Read more…

Chancellor Rachel Reeves has said British businesses will be supported to trade freely as she takes action on practices that undercut fair trade, such as the dumping of cheap goods into the UK. The government announced immediate action by the Trade Remedies Authority (TRA), the body responsible for defending the UK against certain unfair international… Read more…

Tax compliance costs the UK’s small businesses nearly £25 billion a year, according to recent research conducted by the Federation of Small Businesses (FSB). The average small firm spends £4,500 and 44 hours a year on tax compliance, according to the research. These annual totals could include time spent trying to contact HMRC, the cost… Read more…

Pubs, clubs and restaurants will benefit from a reduction in the red tape that has stifled hospitality business, the government said. Action includes moves to improve the application of licensing laws and strengthening businesses’ competitiveness. This will give diners, pub and partygoers more time and more choice to enjoy what the UK hospitality has to… Read more…

The UK government is taking the right approach to tariff negotiations with the US despite downgrades to the economic outlook, says the British Chambers of Commerce (BCC). The International Monetary Fund (IMF) has cut its growth forecast for global GDP to 2.8% from 3.3% this year. The IMF predicts that the increase in tariffs and… Read more…

Increases to the National Living Wage and National Minimum Wage took effect from 1 April. From April 2025, the NLW will increase by 6.7% and the NMW by as much as 18% depending on the category of the worker. The NMW is the minimum amount per hour workers are entitled to be paid by law.… Read more…

Chancellor Rachel Reeves announced ‘no further tax increases’ in the 2025 Spring Statement. The Chancellor’s Autumn Budget contained a record £40 billion in tax increases. However, it did not raise personal taxes including, Income Tax, employee National Insurance contributions or VAT. Ms Reeves had pledged one fiscal event a year and confirmed that no taxes… Read more…