Services sector continues to recover despite rising costs

Optimism improved for firms across the services sector in the three months to November, according to the latest Service Sector Survey from the Confederation of British Industry (CBI).

However,…

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Welsh government delivers Budget

On 20 December 2021, the Welsh government outlined a Budget to 'build a stronger, fairer and greener Wales'.

The Welsh government unveiled a £116 million package of funding to aid…

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National insurance rise 'set to squeeze budgets', warns CBI

The Confederation of British Industry (CBI) has warned the government that the planned rise in national insurance will squeeze budgets and affect economic growth.

The rise will see employers,…

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MTD for VAT brings in up to an extra £195 million in tax

Estimates show that up to £195 million in extra tax revenue has been collected via Making Tax Digital for VAT (MTD for VAT), according to research from HMRC.

The research, conducted by HMRC…

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HMRC names avoidance scheme promoters for first time

HMRC has named two tax avoidance schemes and their promoters for the first time, advising anyone involved to withdraw from them as soon as possible to prevent the build up of large tax bills.

Both…

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Inflation hits 40-year high

Inflation has hit its highest level in 40 years amid the deteriorating cost-of-living crisis, according to the latest figures from the Office for National Statistics (ONS).

The rate shot up…

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Pandemic-born businesses could add £20.4 billion to UK economy

More than £20 billion could be added to the UK economy in the future from the number of additional businesses created during the pandemic, according to research carried out by the Confederation of…

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Advisory fuel rates for company cars

New company car advisory fuel rates have been published and took effect from 1 September 2022.

The guidance states: 'you can use the previous rates for up to one month from the date the…

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VAT businesses must be ready for Making Tax Digital filing by November

HMRC is reminding businesses that they will no longer be able to use their existing Value Added Tax (VAT) online account to submit VAT returns from 1 November.

By law, all VAT-registered businesses…

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