The first Finance Act of the Labour government has gained Royal Assent and passed into law. The Finance Act 2025 makes major changes to the tax rules for non-doms, removes the VAT exemption for private school fees, increases some rates of Capital Gains Tax (CGT) and Stamp Duty Land Tax, and extends the energy profits… Read more…

The reporting threshold for trading income for self assessment is being lifted from £1,000 to £3,000 gross within this parliament, according to the Treasury. This includes people trading clothes online, dog-walking or gardening on the side, driving a taxi, or creating content online. The Treasury says this will benefit around 300,000 taxpayers who will no… Read more…

The reporting threshold for trading income for self assessment is being lifted from £1,000 to £3,000 gross within this parliament, according to the Treasury. This includes people trading clothes online, dog-walking or gardening on the side, driving a taxi, or creating content online. The Treasury says this will benefit around 300,000 taxpayers who will no… Read more…

Chancellor Rachel Reeves has unveiled plans to cut red tape as the government aims to kickstart economic growth. The government says its Action Plan will save businesses across the country billions of pounds by cutting the number of regulators, streamlining their core legal duties and cracking down on complexity in the regulatory system. It says… Read more…

The government’s employment reforms are causing employers to put their hiring plans on hold, according to the Institute of Directors (IoD). The IoD noted that there was a small increase in payrolled employees in the latest Labour market data released by the Office for National Statistics (ONS). Estimates for payrolled employees in the UK increased… Read more…

The government has launched a consultation on plans for the rollout of electronic invoicing (e-invoicing) in the UK. The 12-week consultation is being jointly conducted by HMRC and the Department of Business and Trade (DBT) and will consider whether to make e-invoicing mandatory for businesses in the UK. E-invoicing is the digital exchange of invoice… Read more…

The government has stopped controversial plans to collect information about the exact hours worked by every employee in PAYE returns. The data collection on employee hours was meant to start from April 2026, but the plan has been scrapped as part of the government’s attempts to reduce red tape and regulatory burden for business. The… Read more…

An increasingly complex tax system is costing UK businesses an estimated £15.4 billion a year in compliance, according to a report from the National Audit Office (NAO). HMRC’s cost of collecting tax has risen by £563 million over the past five years due to added complexity in the system plus investments in staff and IT.… Read more…

The government has introduced a package of support that it says will help the alcohol sector to grow. From 1 February, draught relief has increased to knock 1p off duty on draught products whilst small producer relief – a measure to encourage craft brewers to innovate – is becoming more generous. Together these tax cuts… Read more…

The overwhelming majority of businesses say the rise in employers’ NICs will force them to change their plans, according to research by the British Chambers of Commerce (BCC). With under six weeks until the NICs rise comes in, 82% of firms say the tax hike will cause them to rethink. In addition, 58% of surveyed… Read more…