How the off-payroll rules will affect you and your business. Contractors and freelancers operate through a private company to enjoy a better tax treatment compared to sole traders — but a more favourable tax position is actually never guaranteed because…
Rising interest rates and frozen thresholds will force over one million more taxpayers to pay taxes on their savings interest this tax year, new data reveals. Over 2.7 million individuals will pay tax on cash interest in the 2023/24 tax…
Real wages in June 2023 were higher than a year ago for the first time in 18 months, ending a pay squeeze across Britain. Wages grew by 7.8% in the three months to June, the fastest annual rate since records…
Growth remained sluggish between April and June 2023, with GDP growing by 0.2% in the second quarter of 2023 following a 0.1% rise in the first. Monthly estimates also show that GDP grew by an estimated 0.5% in June 2023…
One in five British importers have altered their supply chains because of geopolitical tensions, particularly with China, new research suggests. A survey by the Institute of Directors (IoD), found that 20.5% of importers have altered their supply chains because of…
How to find the best option for your business. In today’s fast-paced and competitive business environment, having the right tools and systems in place is crucial for success. However, one tool that sometimes goes overlooked is accounting software, which can…
Hunt says changes will unlock £75bn of investment. On the evening of Monday 10 July 2023, Chancellor Jeremy Hunt delivered a speech at Mansion House in the City of London framed around “looking further ahead”, rather than just dealing with…
In evidence submitted to the Public Accounts Committee’s Progress with Making Tax Digital inquiry, contributors from across the accounting profession handed down a blistering verdict on the project, and HMRC’s ability to deliver on its new timeline. The written submissions…
After “a successful trial period”, HMRC has decided to extend its call time information messages to more of its helplines in a bid to give taxpayers and agents a better understanding of how long they can expect to be waiting…
Monthly GDP fell by 0.1% in May after growth of 0.2% in April, according to the Office for National Statistics (ONS), suggesting the economy remains on shaky ground. In the three months to May 2023, GDP has “shown no growth”…