Government borrowing falls as Chancellor hints at tax cuts in Spring Budget

Government borrowing fell to £7.8 billion in December 2023 giving Chancellor Jeremy Hunt more scope to make the tax cuts he has hinted at in the Spring Budget.

The Office for National Statistics…

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More than 500 firms named and shamed for underpaying staff

The government has named and shamed over 500 UK employers for underpaying their employees.

524 businesses were named for failing to pay the minimum wage to pay 172,000 workers, with offending…

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300,000 file tax returns in the first week of the tax year

Almost 300,000 self assessment taxpayers filed their return in the first week of the new tax year, HMRC has revealed.

The early filers were almost 10 months ahead of the 31 January 2025 deadline.

Almost…

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Latest guidance for employers

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

  • PAYE Settlement Agreement calculations 2023 to 2024

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Freelancers want to see fairer, simpler tax system from Autumn Budget

Freelancers want to see Chancellor Rachel Reeves use the Autumn Budget to move towards a fairer, simpler tax system, according to the Association of Independent Professionals and the Self-Employed…

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Billion-pound tax bombshell to hit hospitality, warns trade body

The end of business rates relief will sting hospitality with a £928 million bill in April unless the government acts in the Budget, warns UKHospitality.

Hospitality and leisure businesses…

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HMRC warns landlords to disclose earnings

HMRC has warned landlords to disclose their earnings on self assessment tax returns.

The tax authority has clarified the guidance on who can participate in the Let Property Campaign, which…

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Chancellor's business support packages for coronavirus pandemic

On 17 March, Chancellor Rishi Sunak unveiled a £330 billion package of support for the UK economy as it combats the COVID-19 pandemic. The measures dwarf the £12 billion made available in the 2020…

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HMRC extends late reporting deadline for CGT

On 6 April changes were made so that if a UK resident sells a residential property in the UK, they now have 30 days to tell HMRC and pay any money owed.

The seller must submit a standalone…

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