Chancellor Rachel Reeves insisted she has the ‘right economic plan’ for the UK in her Spring Forecast Statement announcement. Ms Reeves acknowledged the economic uncertainty caused by war in the Middle East and pledged to chart a course through the turbulence. The Chancellor’s speech focused on economic growth, the cost of living and public borrowing.… Read more…

An estimated one million taxpayers missed the self assessment deadline for the 2024/25 tax year, according to HMRC. Over 11.48 million taxpayers filed their self assessment tax returns before midnight on 31 January. However, more than 12 million self assessment taxpayers were expected to file a tax return and pay any tax owed by the… Read more…

The number of people using the HMRC app to pay their self assessment tax bill has increased by 65% this tax year, according to the tax authority. Almost 340,000 people have used the HMRC app to pay their self assessment tax since 6 April 2025, an increase of 132,788 people compared to the same period… Read more…

The introduction of Making Tax Digital (MTD) for Income Tax this April will be the biggest change to the UK’s tax system since self assessment, says the Low Incomes Tax Reform Group (LITRG). From 6th April 2026, taxpayers with more than £50,000 of gross income from self-employment and/or rental income in the 2024/25 tax year… Read more…

The lending commitment is one of the largest collective moves by the banking sector in over a decade. The government says this represents an ‘historic show of confidence in the UK economy’.  Senior executives from NatWest, HSBC UK, Barclays, Lloyds and Santander finalised an agreement with the government on 26 January at a roundtable in Westminster convened by the Business Secretary and the CEO of UK… Read more…

Over 200 hospitality and leisure CEOs have urged the government to scrap plans for a Visitor Levy in England. In a letter to the Chancellor, they warn that the proposed holiday tax will ‘hit families hardest, put jobs at risk and drain money from local businesses and communities’. Signatories to the letter warn that ‘holidays… Read more…

New company car advisory fuel rates have been published and took effect from 1 March 2026. The guidance states: ‘you can use the previous rates for up to one month from the date the new rates apply’. The rates only apply to employees using a company car. The advisory fuel rates for journeys undertaken on or… Read more…

HMRC has published the latest issue of the Employer Bulletin. The February issue has information on various topics, including: Reporting expenses and benefits for the tax year ending 5 April 2026. End of year reporting. Upcoming State Pension age changes – impact on payroll operation. Implementation of the Employment Rights Act 2025. Statutory Sick Pay… Read more…

Pubs and live music venues in England will be given a 15% discount on their business rates bills from April and will not see increases for two years, the government announced. It comes after a backlash against November’s Budget, which left many facing major increases in their business rates bills. The government says that pubs… Read more…