Government sets out tax details on TAM Day

The UK government marked the inaugural Tax Administration and Maintenance (TAM) Day with the publication of 30 papers covering a wide range of tax issues.

Chancellor Rishi Sunak made the commitment…

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BCC calls for 'urgent action' to improve UK-EU trade

The British Chambers of Commerce (BCC) has called for urgent action to help improve trade with the EU.

A survey carried out by the BCC revealed that 60% of UK exporters reported difficulties…

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Student loan repayments for new borrowers to start at £25,000

The level at which students begin to pay back their loans will be lowered from £27,295 to £25,000 for new borrowers.

From September 2023, the interest rate on student loans will also be set…

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Latest guidance for employers

HMRC has published the latest issue of the Employer Bulletin. The April issue has information on various topics including:

  • Forthcoming deadlines
  • Claiming employment…

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HMRC issues £14 million in penalties for minimum wage offences

HMRC issued 580 penalties totalling over £14 million for minimum wage offences during 2020/21, according to a report released by the Department for Business, Energy and Industrial Strategy (BEIS).

The…

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Inflation hits 40-year high

UK inflation rose to 9.1% in May from 9% in April as the cost-of-living crisis continues, according to data from the Office of National Statistics (ONS).

It was a slight increase on the 9%…

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Government abandons plan to scrap 45p top rate of income tax

The government has abandoned its plan to abolish the 45% top rate of income tax due to the negative reaction it has received.

Chancellor Kwasi Kwarteng first announced the policy in the Mini…

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Latest guidance for employers

HMRC has published the latest issue of the Employer Bulletin. The October issue has information on various topics, including:

  • the reduction in the rate of National Insurance contributions

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Government extends mortgage guarantee scheme

The Mortgage Guarantee Scheme will be extended by a year to the end of December 2023, helping people with 5% deposits on to the property ladder, the UK government has announced.

Under the…

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