HMRC starts chasing up SEISS overpayments
May 2022
HMRC has started to recover overpayments of Self-employment Income Support Scheme (SEISS) grants. From April, HMRC is writing to taxpayers whose entitlement to the fourth or the fifth SEISS grant…
UK government unveils energy strategy
May 2022
Up to eight more nuclear reactors could be delivered to existing sites as part of the UK's new energy strategy. The plan, which aims to boost UK energy independence and…
Treasury announces it will regulate some forms of cryptocurrency
May 2022
The Treasury has announced that it plans to recognise stablecoins as a valid form of payment as part of a wider government initiative to 'make Britain a global hub for…
HMRC names avoidance scheme promoters for first time
May 2022
HMRC has named two tax avoidance schemes and their promoters for the first time, advising anyone involved to withdraw from them as soon as possible to prevent the build up…
New HMRC one-stop online shop provides taxpayers with tax relief information
May 2022
HMRC has launched a new one-stop online shop designed to provide taxpayers with information on the tax reliefs and financial help available from HMRC. In a new section of the…
Export growth is 'stagnant', BCC finds
May 2022
Data published by the British Chambers of Commerce (BCC) shows that UK export growth has been effectively stagnant for the past year. The BCC's quarterly Trade Confidence Outlook revealed that…
Latest guidance for employers
May 2022
HMRC has published the latest issue of the Employer Bulletin. The April issue has information on various topics including: Forthcoming deadlines Claiming employment allowance from April 2022 Student loans Coronavirus…
Government inaction on long COVID could cost billions
May 2022
There are now more than a million workers missing from the workforce compared to pre-pandemic figures, according to a report published by the IPPR think tank. About 400,000 of these…
Chancellor cuts fuel duty in Spring Statement
April 2022
Chancellor Rishi Sunak announced a 5p per litre cut in fuel duty for petrol and diesel in the 2022 Spring Statement. The government says it is the largest ever cut…
Business groups give mixed response to Spring Statement
April 2022
The UK's business groups gave a mixed response to Chancellor Rishi Sunak's Spring Statement speech. Shevaun Haviland, Director General of the British Chambers of Commerce (BCC), said: 'The Spring Statement…
OBR updates economic picture
April 2022
In his Spring Statement speech, Chancellor Rishi Sunak responded to the latest forecasts as published by the Office for Budget Responsibility (OBR). The OBR forecasts UK economic growth to be…
MTD for VAT brings in up to an extra £195 million in tax
April 2022
Estimates show that up to £195 million in extra tax revenue has been collected via Making Tax Digital for VAT (MTD for VAT), according to research from HMRC. The research,…
Bank of England raises interest rates for third time in a row
April 2022
The Bank of England has raised interest rates for the third consecutive time. The Bank also warned that the Ukraine conflict could see under-pressure households hit with double-digit inflation later…
UK economic growth to halve this year, warns BCC
April 2022
UK economic growth is expected to halve this year amid soaring inflation, major tax rises, and global shocks including Russia's invasion of Ukraine, warns the British Chambers of Commerce (BCC).…
Student loan repayments for new borrowers to start at £25,000
April 2022
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…
CMA frees leaseholders from rising ground rents
April 2022
Intervention by the Competition and Markets Authority (CMA) has freed more leaseholders from increasing ground rent terms that saw them trapped in homes they struggled to sell or mortgage. Businesses…