Banking trade body UK Finance has revealed that the rapid decline in the use of cash as a form of payment has eased. A report published by UK Finance found that 40.4 billion payments were made in 2021, which marked a return to pre-pandemic levels. Cash payments accounted for 15% of all payments in the… Read more…

New company car advisory fuel rates have been published and took effect from 1 September 2022. 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…

There are many different types of investment, all with their own potential strengths and weaknesses. Whilst some prefer the high stakes of stocks and shares, others want more stability and less risk. Property investment can provide a stable and lucrative source of income, with many different options to choose from. However, as we know, the… Read more…

More than £20 billion could be added to the UK economy in the future from the number of additional businesses created during the pandemic, according to research carried out by the Confederation of British Industry (CBI). Around 800,000 companies were registered in the first year of the pandemic, a 22% increase compared with the previous… Read more…

The government has introduced legislation to Parliament, which it says will enhance the competitiveness of the UK financial services sector and unlock tens of billions of pounds of investment. The Financial Services and Markets Bill repeals hundreds of pieces of EU retained law to deliver a ‘comprehensive model of regulation for the UK’. The government… Read more…

Insurer Zurich UK has stated that there has been a significant increase in the number of fraudulent claims as a result of the cost-of-living crisis. Zurich found that between 1 January and 31 May 2022, the number of fraudulent property claims rose by 25% compared to the same period in 2021. It also stated that… Read more…

The Institute of Directors (IoD) has called on the government to extend the capital allowances super-deduction. Data published by the IoD found that the super-deduction has had ‘a positive and measurable impact’ since it was introduced at Budget 2021. The data showed that 13% of firms reported that the super-deduction had had a direct impact… Read more…

The British Chambers of Commerce (BCC) has called for action to help firms employ more staff amidst recruitment difficulties. A survey carried out by the business group revealed that 61% of firms are looking to recruit more employees, but many are facing difficulties in doing so. According to the BCC, the construction sector is facing… Read more…

The International Monetary Fund (IMF) has warned that the UK faces the slowest rate of growth in the G7 next year. The IMF predicts that UK economic growth will fall to 0.5% in 2023, which is considerably lower than its previous prediction of 1.2%, which was forecast in April. Russia’s invasion of Ukraine and the… Read more…

The level at which people start paying national insurance rose from £9,880 to £12,570 from 6 July. According to the government, 30 million people across the UK will benefit from this tax cut. It says the increase will lift 2.2 million people out of paying any personal tax. The threshold change means that 70% of… Read more…