HMRC is warning those earning extra income through a side hustle to check if they need to register for self assessment and file a tax return. Side hustles can be any additional income stream, from online selling to content creation,…
The UK government is aiming to slash energy prices, unlock investment and upskill the workforce in its Industrial Strategy. The government says the Industrial Strategy was developed in partnership with business and includes targeted support for the areas of the…
HMRC has published the latest issue of the Employer Bulletin. The June issue has information on various topics, including: PAYE Settlement Agreement calculations 2024 to 2025 organised labour fraud — the supply of labour through Employment Intermediaries mandating the reporting…
The tax gap estimate was 5.3% for the 2023/24 tax year, according to the latest data from HMRC. The tax gap is the difference between what tax is expected to be paid and actually paid. HMRC collected £829.2 billion in…
HMRC has named and shamed over 500 UK employers for failing to pay the National Living Wage (NLW) or the National Minimum Wage (NMW). The employers will now be forced to repay over £7.4 million to nearly 60,000 workers who…
The government should take a more strategic approach to tax policy, consulting earlier and giving greater thought to the design of the tax system, says Nichola Ross Martin, President of the Chartered Institute of Taxation (CIOT). In her inaugural speech…
New company car advisory fuel rates have been published and took effect from 1 June 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…
Heightened trade tensions and policy uncertainty are expected to drive global growth down to its slowest pace since 2008, according to the World Bank’s latest Global Economic Prospects report. Recent turmoil has resulted in growth forecasts being cut in nearly…
Small firms are keen to become more energy efficient, but they are being held back by the high upfront cost of green investment, according to the Federation of Small Businesses (FSB). The FSB has outlined a path to help cut…
The minimum amount someone needs in retirement has fallen, amid lower energy prices and people’s changing expectations, according to a report from the Pensions and Lifetime Savings Association (PLSA). This year, the cost of a minimum retirement living standard for…
