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…

HMRC has published the latest issue of the Employer Bulletin. The April issue has information on various topics, including: the new rates of the National Minimum Wage reporting expenses and benefits for the tax year ending 5 April 2025 changes to notifications by employers to operate PAYE on a proportion of a globally mobile employee’s… 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…

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…