Number of firms in critical financial distress rises sharply

A growing number of UK businesses are at risk of going under as costs spiral and Covid loan repayments become due, according to a report from insolvency firm Begbies Traynor.

Although COVID…

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NICs increase has immediate impact on businesses

Four out of five employers stated that they were immediately impacted by the increase in national insurance contributions (NICs), according to research by the British Chambers of Commerce (BCC).

The…

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Reform required to combat staff shortages, says BCC

The British Chambers of Commerce (BCC) has called for action to help firms employ more staff amidst recruitment difficulties.

A survey carried out by the business group revealed that 61%…

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Experts warn inflation could keep rising in 2023

Economic analysts have warned that the rate of inflation could keep rising in 2023 as a result of rising energy prices.

Think tank the Resolution Foundation stated that inflation could go…

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Government pushes back economic statement

Chancellor of the Exchequer Jeremy Hunt has delayed the announcement of the government's economic plan until 17 November.

The Medium-Term Fiscal Plan was due to be delivered by the Chancellor…

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OECD warns UK on course for biggest economic downturn

The UK economy is to suffer the biggest hit of all the G7 nations next year, according to a report from the Organisation for Economic Cooperation and Development (OECD).

The OECD forecasts…

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HMRC sounds warning on new VAT penalties

HMRC is reminding VAT-registered businesses to file their VAT returns and pay on time ahead of new penalties being applied.

The tax authority says that the new penalties will be 'fairer…

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Taxpayers given more time for voluntary national insurance contributions

The government has extended the voluntary national insurance deadline to give taxpayers more time to fill gaps in their contributions and boost their state pensions.

The extension comes after…

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£177.6 million lost to impersonation scams in 2022

£177.6 million was lost to impersonation scams in 2022, data published by trade association UK Finance has revealed.

The data showed that there were 45,367 cases of impersonation scams in…

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