Official statistics have overstated the size of the UK’s self-employed population for two decades, according to the Institute for Fiscal Studies (IFS). The share of national income flowing to those with the highest incomes has also been over-estimated, adds the think tank. The mismeasurement stems from a longstanding error in the Survey of Personal Incomes… Read more…

UK bank customers will benefit from an increase to the maximum amount they would be reimbursed for if their bank were to fail from 1 December, the Prudential Regulation Authority (PRA) has confirmed. From December, the deposit protection limit, which applies to the Financial Services Compensation Scheme, will protect up to £120,000 of a depositor’s… Read more…

The British Chambers of Commerce (BCC) has warned that the UK could fall behind in the race to achieve net zero. Research carried out by global management consulting firm McKinsey and Company showed that the transition to net zero could potentially be worth more than £1 trillion to UK business by 2030. A survey of… Read more…

One in six employers expect AI to shrink their workforce over the next year, with junior roles most at risk, according to a survey conducted by the Chartered Institute of Personnel and Development (CIPD). Almost two thirds of those surveyed believe that clerical, junior managerial, professional or administrative roles are most likely to be lost… Read more…

New company car advisory fuel rates have been published and took effect from 1 December 2025. 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…

Chancellor Rachel Reeves should use the Autumn Budget to reform the UK’s tax system, says the Institute for Fiscal Studies (IFS). The think tank says this would help Ms Reeves to raise more revenue while limiting the hit to the economy. The IFS warns the Chancellor against raising the levels of existing taxes to bring… Read more…

HMRC has resumed its programme allowing direct recovery of money from debtors’ bank accounts. The Direct Recovery of Debts (DRD) policy, which was paused during the Covid-19 pandemic, has restarted in a ‘test and learn’ phase’, the tax authority has confirmed. DRD targets individuals and businesses who can afford to pay their debts but deliberately… Read more…

There is now less than a year until the UK Government introduces Vaping Products Duty (VPD) and vaping duty stamps (VDS) on 1 October 2026. VPD, a new excise duty, will apply to all vaping liquids (or e-liquids) sold or supplied in the UK, at a flat rate of £2.20 per 10ml and VDS must… Read more…