Industry News

UK SMEs ‘unmindful of risks posed by cyber-attacks’, poll suggests

14th December 2018

A poll commissioned by insurance firm Aon has suggested that UK small and medium-sized enterprises (SMEs) are ‘unmindful of the risks’ that cyber-attacks...

Finance Secretary for Scotland outlines tax plans in Scottish Budget

13th December 2018

In his draft Budget, Derek Mackay, the Finance Secretary for Scotland, outlined his plans for Scottish taxation and spending. Mr Mackay stated that he will ‘not...

Redesign tax system to help ‘fight against climate change’, says ACCA

12th December 2018

The Association of Chartered Certified Accountants (ACCA) has published a report calling on governments to help tackle climate change by redesigning their tax systems. The...

Business groups react to Brexit deal vote delay

11th December 2018

Business groups have responded to the postponing of the vote on the draft Brexit deal. Prime Minister Theresa May intends to meet EU officials and European leaders...

Confidence amongst small businesses ‘falls to seven-year low’

10th December 2018

Confidence amongst UK small businesses has ‘fallen to its lowest point since 2011’, the quarterly Small Business Index (SBI) published by the Federation...

‘Bad payment practices lead to SME failures’, report suggests

7th December 2018

A new report published by the Business, Energy and Industrial Strategy (BEIS) Committee has highlighted how ‘bad payment practices’ have led to the ‘failure’...

UK businesses urged to prepare now for potential ‘no deal’ Brexit

6th December 2018

HMRC has written to 145,000 UK businesses to urge them to begin preparing now for a potential ‘no deal’ Brexit scenario. The letters, which have been...

Report suggests HMRC ‘treating taxpayers unfairly’

5th December 2018

A report published by the Economic Affairs Committee has suggested that HMRC is ‘treating taxpayers unfairly’ and has called for the Revenue’s...

ICAEW urges employers to consider the tax implications of a seasonal party

4th December 2018

The Institute of Chartered Accountants in England and Wales (ICAEW) has urged employers to consider the tax implications associated with a seasonal party. A company...

Prime Minister backs ‘Pensions Dashboards’ initiative

3rd December 2018

Prime Minister Theresa May has outlined her commitment to the launch of the so-called ‘Pensions Dashboards’ initiative. The new Pensions Dashboards...

‘Improve employees’ digital skills via apprenticeships’, organisation urges employers

30th November 2018

Research carried out by not-for-profit organisation The 5% Club has suggested that apprenticeships or training schemes could help to improve employees’ digital...

HMRC writes to taxpayers ahead of introduction of Welsh rates of income tax

29th November 2018

HMRC has started to write to taxpayers ahead of the introduction of the Welsh rates of income tax (WRIT) on 6 April 2019. From this time, taxpayers will pay the...

Late payments and restricted access to finance ‘impacting firms’ ability to grow’

28th November 2018

A survey carried out by data provider Dun & Bradstreet has suggested that small firms’ plans for growth are being adversely affected by late payments and...

Brexit deal ‘will cost UK £100 billion per year’ by 2030, study suggests

27th November 2018

A study carried out by economic think tank the National Institute for Economic and Social Research (NIESR) has suggested that the government’s Brexit deal...

OTS calls for overhaul of inheritance tax regime

26th November 2018

The Office of Tax Simplification (OTS) has urged HMRC to overhaul the UK’s inheritance tax (IHT) regime. In January 2018, Chancellor Philip Hammond commissioned...

Committee warns small firms ‘could pay heavy price’ for MTD for VAT

23rd November 2018

The Economic Affairs Committee has warned HMRC that UK small businesses ‘could pay a heavy price’ for Making Tax Digital for VAT (MTD for VAT). In a...

First-time homebuyers ‘saved £426 million’ as result of changes to stamp duty

22nd November 2018

Data published by HMRC has revealed that first-time homebuyers have collectively ‘saved £426 million’ as a result of changes to Stamp Duty Land...

Statistics reveal ‘sugar tax’ has generated £153 million for HMRC

21st November 2018

Data has revealed that the Soft Drinks Industry Levy generated £153.8 million for HMRC in the year-to-date, up to the end of October. First announced in the...

Older employees ‘would welcome flexible working’, survey suggests

20th November 2018

A survey carried out on behalf of the Department for Business, Energy and Industrial Strategy (BEIS) has found that the majority of workers aged over 50 would ‘welcome...

Official data reveals wages have risen ‘at fastest pace in a decade’

19th November 2018

Data published by the Office for National Statistics (ONS) has revealed that wages rose at the fastest pace in almost a decade in the three months to September. When...