National Living Wage to rise from April 2024

The National Living Wage (NLW) will rise to at least £11 an hour from April 2024, Chancellor Jeremy Hunt has confirmed.

The Chancellor confirmed the increase in a speech to the Conservative…

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UK at risk of recession after economy shrinks

The UK is at risk of recession after revised figures showed the economy shrank between July and September, according to data from the Office for National Statistics (ONS).

Gross domestic product,…

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Tax cuts may have to be scrapped due to 'economic bind', warns IFS

Tax cut promises may need to be scrapped as a result of the UK being in an 'unfortunate economic and fiscal bind', the Institute for Fiscal Studies (IFS) has warned.

The next government…

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Latest guidance for employers

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

  • 2024 National Insurance contributions rate changes

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More than seven million adults still struggling to pay bills, finds FCA

Around 7.4 million people in the UK struggled to pay a bill or a credit repayment in January, according to the Financial Conduct Authority (FCA).

The figure is lower than last year but is…

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Inflation falls after UK moves out of recession

The rate of UK inflation fell to 2.3% in the year to April, according to the Office for National Statistics (ONS).

Inflation is down from 3.2% in March and is the lowest level since September…

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Chancellor takes difficult decisions as Budget date set

Chancellor of the Exchequer Rachel Reeves said she was taking difficult decisions after a Treasury spending audit revealed £22 billion of unfunded pledges.

Ms Reeves confirmed that the Autumn…

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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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Reforms to IHT, CGT and NI 'could raise over £20 billion a year'

The Resolution Foundation has suggested that reforms to inheritance tax (IHT), capital gains tax (CGT) and national insurance (NI) could raise more than £20 billion a year.

The Foundation…

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