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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%…

The Treasury Committee has urged the government to provide assurance that it is not 'flying blind' into a potential Emergency Budget this September.

In a letter sent to Chancellor Nadhim Zahawi,…

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…

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
…

The Institute for Fiscal Studies (IFS) has warned that household incomes will see their biggest drop in generations following the Autumn Statement.

The think tank warned that growth in living…

The government has launched a consultation on simplifying the UK's research and development (R&D) tax relief system, driving innovation and growing the economy.

The consultation runs to 13…

HMRC has reminded married couples eligible for the Marriage Allowance to make use of the tax relief.

Over 2.1 million couples currently benefit from the Allowance, HMRC said. Married couples…

Interest rates have been increased to 4.25% from 4% by the Bank of England (BoE) as it tries to slow rising prices.

The BoE's decision to increase rates for the 11th time in a row comes after…

The number of self assessment taxpayers filing their tax return on the first day of the tax year has more than doubled since 2018, HMRC has revealed.

More than 77,500 customers submitted their…