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Latest News for Business (Archive)

News
Latest News for Business

May 2024

MTD for Income Tax pilot now live
IR35 reforms taking their toll on skilled contractors
Government urged to implement reforms to R&D tax system
HMRC clarifies tax rules for WFH commuting
HMRC launches online voluntary NICs payment service
UK borrowing reduces Chancellor's wiggle room
More than seven million adults still struggling to pay bills, finds FCA
Latest guidance for employers

April 2024

Relief at HMRC's reversal of helpline closures
Jeremy Hunt cuts NICs again in the Spring Budget
Business groups say challenges remain despite encouraging Budget
New HMRC R&D tax relief guidance 'could be clearer', says ICAEW
Bank holds interest rates as inflation and economy show improvement
HMRC's services having a negative impact on SME productivity
New measures aim to 'break the spell' of fraudsters
The National Minimum Wage is the single most successful economic policy in a generation, says think tank

March 2024

HMRC publishes guidance on MTD for ITSA for sole traders and landlords
Over one million miss self assessment deadline
HMRC warns self assessment taxpayers as scam referrals rise
Double-cab pickups go back to being vans as guidance reversed
Pensions income needed to retire rises
More than 500 firms named and shamed for underpaying staff
Latest guidance for employers
Advisory fuel rates for company cars

February 2024

Government borrowing falls as Chancellor hints at tax cuts in Spring Budget
Tax cuts may have to be scrapped due to 'economic bind', warns IFS
HMRC sends warning to cryptoasset users
Raise VAT threshold to £100,000, says FSB
Clarity on new border checks is vital, says BCC
Artificial Intelligence will affect jobs and worsen inequality, says IMF
Over 50s bucking decline in freelance numbers
Only a third of UK adults confident with self assessment

January 2024

Spring Budget 2024 date confirmed for 6 March
UK at risk of recession after economy shrinks
HMRC updates off payroll compliance guidance
Countdown for 5.7 million to file their 2022/23 self assessment tax return
Red tape, rising costs and regulation 'holding back exports'
Businesses say hybrid working is here to stay
Latest guidance for employers

December 2023

Chancellor makes Full Expensing permanent in Autumn Statement
National Insurance changes 'ease burden on strivers'
Autumn Statement cuts won't stop tax revenues rising to highest ever levels
HMRC is 'Making Tax Difficult' with MTD programme
Government agrees to crack down on crypto tax evasion
Real Living Wage to increase by 10%
Rate of inflation falls as interest rates held
Advisory fuel rates for company cars

November 2023

Chancellor must use Autumn Statement to cement commitment to small firms
Inflation rate holds steady as UK economy grows
UK set for biggest tax rise in at least 50 years
Scams warning issued to 12 million self assessment taxpayers
Online platforms should sign up to Prompt Payment Code
Hybrid and remote working here to stay
Many firms still facing recruitment problems
Latest guidance for employers

October 2023

Firms looking to Autumn Statement for help with rising operating costs
Interest rates held as inflation falls
National Living Wage to rise from April 2024
SMEs 'struggling to access finance'
Government slow to recover over £1 billion Covid grant fraud
HMRC urges nearly 430,000 young people to claim Child Trust Fund cash
Less than 1% of small firms receiving net zero help
Number of cash transactions rises for first time in a decade

September 2023

Inflation falls
UK set for five years of lost economic growth, warns think tank
Over a third of households across England will pay higher energy bills this winter
HMRC should increase rewards for whistleblowers, says law firm
Another million savers to be hit with tax on interest
Government launches Business Climate Hub
Latest guidance for employers
Advisory fuel rates for company cars

August 2023

UK inflation falls as economy shrinks in May
Bank of England raises UK interest rates
HMRC increases late payment interest rate
CMA scheme will force retailers to publish live fuel prices
Almost a million Child Trust Funds still unclaimed
South Yorkshire named as first UK Investment Zone
Tax down on pints but up on wines and spirits in Alcohol Duty overhaul
HMRC gives £1.8 million a year to charities to help excluded taxpayers

July 2023

HMRC extends deadline for voluntary NICs
HMRC closes self assessment helpline for three months
MTD expected to cost £1 billion more than originally forecast
UK inflation stays at 8.7%
Bank of England raises UK base interest rate
More than 200 companies named and shamed for minimum wage breaches
Post-Brexit trade plan must be replaced, says think tank
Industrial strategy required to 'focus on innovation', says IoD

June 2023

UK rate of inflation fell sharply in April
Don't miss out on a tax refund for work expenses, HMRC urges
Number of early self assessment filers doubles in five years
HMRC increases late payment interest rate
'Fresh thinking' needed in regard to MTD for ITSA
One in five workers will be higher rate taxpayers by 2027, says IFS
Energy suppliers urged to renegotiate fixed contracts for small businesses
Advisory fuel rates for company cars

May 2023

Online VAT filing portal to close in May
UK inflation falls to 10.1% in March
Tax threshold freeze trebles to £25 billion
PAC criticises government for billions lost to error and fraud
No sign of hiring difficulties easing, says BCC
£177.6 million lost to impersonation scams in 2022
Workers must be protected from decisions made by AI, TUC says
Latest guidance for employers

Recent news

07 May 2024

MTD for Income Tax pilot now live

HMRC's pilot scheme for Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) is now live.

07 May 2024

IR35 reforms taking their toll on skilled contractors

One in ten highly skilled freelancers are currently out of work due to the impact of reforms to IR35 tax legislation.

07 May 2024

Government urged to implement reforms to R&D tax system

The government is being urged to implement reforms to the Research and Development (R&D) tax relief system in order to avoid hurting small companies by the Suffolk Chamber of Commerce.

07 May 2024

HMRC clarifies tax rules for WFH commuting

HMRC has updated guidance on when tax relief is available on travel expenses for staff who work from home.

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MMC Accountants was originally established in 1974

VAT No: 973372691
Company Reg No: 06945223

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MMC Accountants is a trading style and Meigh Mansbridge & Co is a trading name of MMC Accountancy Services Ltd Registered in England and Wales. Registered Number 06945223 Directors: Mr M J Cushing FMAAT. Mr S A Thomas FCCA