HMRC is reminding people who pay tax by self assessment of the opportunity to spread the cost of their bill with the Time to Pay facility. More than 15,000 self assessment customers have already set up a Time to Pay payment plan for the 2023/24 tax year to help spread the cost, according to the… Read more…

HMRC could save an estimated 1.7 million hours of call handlers’ time every year if it implemented an automated status tracking system, according to two of the leading bodies for tax advisers and chartered accountants. A joint study by the Chartered Institute of Taxation (CIOT) and ICAEW tracked attempts to contact HMRC across phonelines and… Read more…

The UK government has launched a new Industrial Strategy Advisory Council which brings together business leaders from across the UK to offer advice. The government says the Industrial Strategy will help maintain a pro-business environment to capture a greater share of internationally mobile investment and motivate domestic business to boost their investment and scale up… Read more…

The Chancellor will deliver her Spring Statement to the House of Commons on Wednesday 26 March 2025. Rachel Reeves confirmed the date to the House of Commons, telling MPs that the Office for Budget Responsibility (OBR) has been commissioned for an Economic and Fiscal Forecast to be published on the same day. This is in… Read more…

The UK economy shrank for the second month in a row in October, according to the Office for National Statistics (ONS). Official figures showed a 0.1% drop in gross domestic product (GDP) for October. The economy had been expected to return to growth following a fall during September. However, the ONS said that activity had… Read more…

Cash use in the shops rose for a second year in a row in 2023 after a decade of falls, according to the British Retail Consortium (BRC). Notes and coins were used in a fifth of transactions last year as shoppers found cash helped them to budget better, said the BRC. Overall, customers visited shops… Read more…

More than 40,000 taxpayers completed their self assessment returns over the Christmas break, according to figures from HMRC. On Christmas Day 4,400 people filed their tax return online while almost 12,000 submitted their tax return on Boxing Day. Christmas Eve was the busiest day for returns over the festive period with 23,731 filing their returns.… Read more…

HMRC has published the latest issue of the Employer Bulletin. The December issue has information on various topics, including: employer National Insurance contributions and Employment Allowance changes announced at Autumn Budget 2024 automatic enrolment duties for festive season workers confirming plans to mandate the reporting of benefits in kind through payroll software from April 2026… Read more…

The government has published draft legislation to permanently cut business rates for retail, hospitality and leisure properties from 2026. The tax cut will be funded by a tax rise for the very largest business properties, such as online sales warehouses, the government added. Until then, 250,000 retail, hospitality and leisure (RHL) properties will receive 40%… Read more…

HMRC has warned landlords to disclose their earnings on self assessment tax returns. The tax authority has clarified the guidance on who can participate in the Let Property Campaign, which is targeted at landlords who owe tax through letting out residential property in the UK or abroad. Landlords can report previously undisclosed taxes on rental… Read more…