The majority of sole traders do not have a clear understanding of Making Tax Digital (MTD) for Income Tax, according to research from IPSE, the self-employed association. A survey conducted by IPSE found that 70% either have not heard of…
Reducing the qualifying period for unfair dismissal protection is a sensible move, says the Resolution Foundation. The government is amending the Employment Rights Bill to reduce the qualifying period for unfair dismissal protection from two years to six months, rather…
The mandatory introduction of e-invoicing for all VAT-registered businesses selling to UK business customers from April 2029 will be a fundamental change, says the Chartered Institute of Taxation (CIOT). The government announced the requirement in the Autumn Budget 2025 policy…
Self assessment taxpayers due to join Making Tax Digital (MTD) for Income Tax next April will not face penalties if late filing quarterly updates. In the Autumn Budget 2025 documents, the government said it will not charge penalty points if…
New company car advisory fuel rates have been published and took effect from 1 December 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…
AI tools including Chat GPT, Gemini and Meta AI are giving inaccurate, unclear and risky advice which could prove costly if followed, warns consumer champion Which?. Research showed that around half of UK adults are now using AI tools to…
Chancellor of the Exchequer Rachel Reeves set out tax-raising measures worth up to £26 billion in the Autumn Budget. The increases will be achieved through a range of measures, including extending the freeze on Income Tax thresholds for a further…
The UK inflation rate fell to 3.6% in the year to October, according to the latest data from the Office for National Statistics (ONS). October’s decline was led by a smaller rise in gas and electricity prices compared with a…
UK bank customers will benefit from an increase to the maximum amount they would be reimbursed for if their bank were to fail from 1 December, the Prudential Regulation Authority (PRA) has confirmed. From December, the deposit protection limit, which…
HMRC is urging those making money from Christmas crafts, seasonal market stalls, or selling festive items to check if they need to report their earnings. As the festive season approaches, the tax authority has launched a Help for Hustles campaign.…
