NICs increase has immediate impact on businesses

Four out of five employers stated that they were immediately impacted by the increase in national insurance contributions (NICs), according to research by the British Chambers of Commerce (BCC).

The…

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IMF criticises government over tax plans

The International Monetary Fund (IMF) warned the UK government against 'large and untargeted fiscal packages' following the Mini Budget.

The IMF stated that tax measures announced by Chancellor…

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Government pushes back economic statement

Chancellor of the Exchequer Jeremy Hunt has delayed the announcement of the government's economic plan until 17 November.

The Medium-Term Fiscal Plan was due to be delivered by the Chancellor…

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Bank of England raises base rate

The Bank of England (BoE) has raised UK interest rates by half a percentage point to 3.5%.

It is the ninth consecutive increase and takes the base rate to its highest level for 14 years as…

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Bank of England raises interest rates to highest level in 14 years

The Bank of England (BoE) has raised the base rate of interest to the highest level in 14 years.

The BoE raised interest rates for the tenth consecutive time on 2 February with a half point…

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HMRC sounds warning on new VAT penalties

HMRC is reminding VAT-registered businesses to file their VAT returns and pay on time ahead of new penalties being applied.

The tax authority says that the new penalties will be 'fairer…

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No sign of hiring difficulties easing, says BCC

Businesses are still facing major difficulties in hiring new staff, according to a survey conducted by the British Chambers of Commerce (BCC).

The latest Quarterly Recruitment Outlook (QRO),…

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'Fresh thinking' needed in regard to MTD for ITSA

The Institute of Chartered Accountants in England and Wales (ICAEW) has written to HMRC regarding how Making Tax Digital for Income Tax Self Assessment (MTD for ITSA) can be better shaped to suit…

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MTD expected to cost £1 billion more than originally forecast

A report published by the National Audit Office (NAO) has found that HMRC's Making Tax Digital (MTD) initiative is expected to cost around £1 billion more than its initial £226 million budget, which…

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