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Industry News

Business groups respond to announcement of new Brexit deal

18th October 2019

Business groups, including the Confederation of British Industry (CBI), the British Chambers of Commerce (BCC) and the Institute of Directors (IoD) have responded...

HMRC to give importers no-deal Brexit ‘breathing space’ image

HMRC to give importers no-deal Brexit ‘breathing space’

17th October 2019

HMRC intends to give importers up to six months to submit customs declarations and pay import duties in the event of a no-deal Brexit on 31 October. HMRC says the...

HMRC data reveals significant rise in number of R&D tax credit claims image

HMRC data reveals significant rise in number of R&D tax credit claims

16th October 2019

Figures published by HMRC have revealed that the total number of claims for R&D tax credits has increased by 20%. The latest figures cover the 2017-18 tax year...

UK government outlines policies in Queen’s Speech

15th October 2019

On 14 October, the UK government laid out its policies on trade, crime, the environment and Brexit in the Queen's Speech. Amongst the 26 bills outlined at Parliament’s...

Chancellor announces post-Brexit Budget date image

Chancellor announces post-Brexit Budget date

14th October 2019

Chancellor Sajid Javid has announced that he will deliver the 2019 Autumn Budget on Wednesday 6 November. The 2019 Autumn Budget will be the first Budget to be delivered...

‘Lessons must be learned’ from loan charge controversy, states ICAEW image

‘Lessons must be learned’ from loan charge controversy, states ICAEW

11th October 2019

The Institute of Chartered Accountants in England and Wales (ICAEW) has stated that ‘lessons must be learned’ from the controversy surrounding the loan...

OECD considering plans to tax tech giants’ profits by jurisdiction image

OECD considering plans to tax tech giants’ profits by jurisdiction

10th October 2019

Large multinational tech companies would have to pay taxes in the jurisdictions where profits are generated under new tax proposals from the Organisation for Economic...

UK productivity suffers worst drop in five years

9th October 2019

Productivity in the UK fell at its fastest annual rate for five years during the second quarter of 2019, according to the Office for National Statistics (ONS). Productivity...

UK small businesses ‘concerned about impact of Brexit on supply chains’

8th October 2019

Research carried out by insolvency trade body R3 has suggested that a third of UK small businesses are concerned about the impact Brexit will have on their supply...

Banking crime cost over £600 million in first half of 2019

7th October 2019

Banking customers lost over £600 million to crime during the first half of 2019, according to data from industry group UK Finance. According to UK Finance’s...

UK ‘on cusp of recession’ after services sector shrinks

4th October 2019

The UK economy is ‘on the cusp of recession’ after the services sector suffered an unexpectedly sharp downturn last month, according to research from...

Inheritance tax ‘could be scrapped’, Chancellor hints image

Inheritance tax ‘could be scrapped’, Chancellor hints

3rd October 2019

Chancellor Sajid Javid has suggested that the government ‘may be prepared’ to scrap inheritance tax (IHT). IHT is levied on a person’s estate...

Chancellor pledges to increase National Living Wage to £10.50 image

Chancellor pledges to increase National Living Wage to £10.50

2nd October 2019

Chancellor Sajid Javid has pledged to raise the National Living Wage (NLW) to £10.50 within the next five years. Speaking at the Conservative Party Conference,...

ATT calls for ‘urgent clarity’ on off-payroll working changes image

ATT calls for ‘urgent clarity’ on off-payroll working changes

1st October 2019

The Association of Taxation Technicians (ATT) has called for ‘urgent clarity’ on next April’s changes to the off-payroll working rules. From April...

Accountancy firm powers forward despite uncertain times image

Accountancy firm powers forward despite uncertain times

1st October 2019

L to R: Usman Ali, Masum Ahmed, Sandra White, Andy Carey, Charles Antwi, Tanya Hamilton, John Shea, Nick Paterno, Andy Warren, Mark Grady, Nigel Kimber, Rashed...

Bank of England hints at interest rate cut

30th September 2019

The Bank of England (BoE) may cut interest rates in the near future if the uncertainty around Brexit continues, according to economist Michael Saunders, who is a...

FCA finds half of pension pots cashed in ‘without advice’ image

FCA finds half of pension pots cashed in ‘without advice’

27th September 2019

Nearly half of pension pots were accessed without advice or guidance being sought last year, according to the latest retirement income data from the Financial Conduct...

Committee calls for frequent flyer tax to tackle emissions image

Committee calls for frequent flyer tax to tackle emissions

26th September 2019

A frequent flyer tax should be introduced to help curb the UK’s air miles and ensure the country meets its commitments to cutting carbon emissions, according...

BCC finds ‘major gaps’ in government no-deal Brexit guidance

25th September 2019

The British Chambers of Commerce (BCC) has found ‘major gaps’ in the government’s no-deal Brexit guidance for UK businesses. The business group...

BRC urges government to take action in regard to rising card fees

24th September 2019

The British Retail Consortium (BRC) has urged the government to take action to reduce card fees charged by card companies. Data published by the BRC revealed that...

Record inheritance tax take for HMRC image

Record inheritance tax take for HMRC

23rd September 2019

HMRC collected a record sum of £5.4 billion in inheritance tax (IHT) during the 2018/19 tax year, according to figures released by the tax authority. The increase...

Experts warn Chancellor over insolvency debts

20th September 2019

Prioritising HMRC over other creditors in insolvencies will have a ‘negative impact on the UK’s economic growth’, experts have warned Chancellor...