The number of employers expecting to increase staff numbers in the next three months has fallen to a record low outside of the pandemic, according to research from the Chartered Institute of Personnel and Development (CIPD). One in four employers…
Almost 300,000 people filed their tax return in the first week of the new tax year, setting a new record, HMRC has revealed. Self assessment taxpayers can submit their tax return for the 2024/25 tax year between 6 April 2025,…
The UK’s professional tax and accounting bodies have backed the adoption of e-invoicing in their responses to a government consultation. The Chartered Institute of Taxation (CIOT) says that HMRC will need to prioritise the effective implementation of e-invoicing if it…
Almost half of UK sole traders feel unprepared for upcoming Making Tax Digital (MTD) for Income Tax changes, according to research conducted by IRIS Software. The new MTD rules mandate digital record-keeping and quarterly Income Tax updates starting April 2026…
HMRC will reduce late payment and repayment interest rates from 28 May following the 0.25% cut in the base rate last week. The Bank of England cut the base rate to 4.25% on 8 May, triggering a 0.25% cut in…
Parents of 16 to 19-year-olds will receive reminders from HMRC to extend their Child Benefit claim by 31 August if their child is staying in education or training or payments will automatically stop. Child Benefit will automatically stop on 31…
The government should urgently tackle the jobs crisis among young people or it will risk facing a ‘lost generation’, according to the British Chambers of Commerce (BCC). In a report the BCC says immediate action is needed to remove barriers…
The government is introducing legislation to regulate cryptoassets and improve consumer protection for the asset class. The new rules will apply to firms offering services for cryptoassets like Bitcoin and Ethereum. The government says that around 12% of UK adults…
HMRC has launched a new online interactive tool to help guide both businesses and individuals through tax compliance checks. The Interactive Compliance Guidance tool available on GOV.UK provides information to help customers understand: · HMRC compliance checks.…
A lack of trust and a shortage of expertise at board level are limiting the adoption of AI in UK businesses, according to research from the Institute of Directors (IoD). Just over half of survey respondents said limited expertise or…
