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Trade body Offshore Energies UK (OEUK) has stated that the Energy Profits Levy, also known as the 'windfall tax', on UK energy firms should be scrapped by 2025 or it could risk having a 'detrimental…

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…

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…

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…

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…

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…

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),…

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…

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…