Revitalising ‘Brand Britain’ in its first 100 days in office should be a priority for the party that wins the General Election, says the Confederation of British Industry (CBI). In its Business Manifesto, the business group has mapped out the steps it says the next government can take to redefine the UK’s growth trajectory. The… Read more…

The next government must take a direct hand in rebuilding trust between HMRC and the self-employed, according to the Association of Independent Professionals and the Self-Employed (IPSE). The call is part of IPSE’s manifesto for the General Election on 4 July. Under its proposals, a Cabinet minister would be charged with directly overseeing the tax… Read more…

The advent of cloud-based solutions has completely transformed traditional business practices. Rather than relying on in-house hardware and software, companies can now shift key processes onto the cloud. Whether it’s marketing, customer relations, or in this instance, accounting- there’s a plethora of solutions available. This can be particularly useful for smaller businesses, who may not… Read more…

HMRC has published the latest issue of the Employer Bulletin. The March issue has information on various topics, including: PAYE Settlement Agreement payment reporting expenses and benefits for the tax year ending 5 April 2024 mandating the payrolling of benefits in kind from April 2026 PAYE tax calculator basis period reform – reporting on a… Read more…

Around 7.4 million people in the UK struggled to pay a bill or a credit repayment in January, according to the Financial Conduct Authority (FCA). The figure is lower than last year but is still significantly higher than before the cost-of-living crisis began. According to the FCA, in January 2023, after the Russian invasion of… Read more…

Higher than expected government borrowing has reduced the Chancellor’s ‘wiggle room’ at a pre-election Budget. Government borrowing – the difference between spending and tax income – was £120.7 billion in the year to March, according to the latest figures from the Office for National Statistics (ONS). This was £7.6 billion lower than last year, but… Read more…

HMRC has launched a new online voluntary NICs payment service. The government says the new service will make it easier for customers to check for and fill any gaps in their National Insurance record to help increase their State Pension. It also said that the new Check your State Pension service has been enhanced to… Read more…

HMRC has updated guidance on when tax relief is available on travel expenses for staff who work from home. The tax authority is responding to the growth of flexible or hybrid basis working contracts, particularly since the Covid-19 pandemic. HMRC confirmed that ‘under such arrangements, the employee will have a base office and journeys from… Read more…

The government is being urged to implement reforms to the Research and Development (R&D) tax relief system in order to avoid hurting small companies by the Suffolk Chamber of Commerce. A report released by the Chamber found that recent changes by HMRC and a ‘wild west’ regulatory system in regard to who can act as… Read more…

One in ten highly skilled freelancers are currently out of work due to the impact of reforms to IR35 tax legislation, according to research published by the Association of Independent Professionals and the Self-Employed (IPSE). IPSE’s survey of more than 1,300 contractors in highly skilled roles found that 21% are not currently working, with half… Read more…