The UK is at risk of recession after revised figures showed the economy shrank between July and September, according to data from the Office for National Statistics (ONS). Gross domestic product, which measures the health of the economy, contracted by 0.1% after previous estimates suggested growth has been flat. Meanwhile, there was zero growth between… Read more…

Chancellor Jeremy Hunt will deliver the 2024 Spring Budget on 6 March, the government has confirmed. The Budget will include the government’s tax and spending plans as well as new growth and borrowing forecasts. It could be the last chance for the government to announce significant changes to tax policy before the general election. The… Read more…

Many businesses continue to embrace outsourcing as a modern solution. Employing a third-party organisation, group or individual to complete a specific task within the business. Whilst outsourcing takes many different forms, with business owners delegating tasks such as customer service and marketing- it’s often payroll which proves most popular. This is unsurprising as payroll can… Read more…

We are proud to announce that our very own Anjulika Salhan will be Chairing the first Artificial Intelligence (AI) /Machine Learning (ML) Congress 2024 to be hosted by the Institute of Mathematics and its Applications – Unlocking the potential: The IMA AI/ML Congress 2024https://ima.org.uk/23193/unlocking-the-potential-the-ima-ai-ml-congress-2024/ This will be an inclusive gathering of academics, industrialists, and AI enthusiasts… Read more…

New company car advisory fuel rates have been published and took effect from 1 December 2023. 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…

UK inflation fell to a two-year low while the base rate of interest was unchanged by the Bank of England for the second month in a row. The Office for National Statistics (ONS) found that the UK’s rate of Consumer Price Index inflation fell to 4.6% from 6.7% in September. The ONS found that a… Read more…

The Real Living Wage is set to increase by 10%, the Living Wage Foundation has announced. The rate will rise to £12 an hour across the UK and £13.15 an hour in London. The increase will affect over 460,000 people working for 14,000 Real Living Wage employers across the UK. Unlike the National Living Wage… Read more…

The UK government has agreed an ‘historic’ commitment with 48 countries to combat criminals using crypto assets to evade tax. The landmark agreement follows on from the UK’s tax deal made in 2021 to clamp down on corporate tax avoidance and ‘ensure the right tax is paid in the right place’. The new Crypto-Asset Reporting… Read more…

HMRC is ‘Making Tax Difficult’ for taxpayers as Making Tax Digital (MTD) adds to the burdens they face, according to a report by the Public Accounts Committee (PAC). The report says that HMRC has lost sight of the need to put taxpayers at the heart of changes to the tax system. The PAC says that… Read more…

The tax cuts announced in the 2023 Autumn Statement won’t prevent tax revenues rising to their highest ever levels, the Institute for Fiscal Studies (IFS) has warned. The IFS stated that announcing tax cuts in response to ‘highly uncertain’ changes in assumptions about the UK’s medium-term economic prospects ‘does not feel like a recipe for… Read more…