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Business News Archive

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Business News
Archive

April 2020

Majority of UK firms have less than three months' cash reserves
Major UK banks will pay no dividends or bonuses this year
Government publishes details on coronavirus grant schemes for small businesses
CBI finds retail sales propped up by stockpiling in March
Directors on PAYE can furlough under job retention scheme
HMRC extends MTD digital links deadline until 2021

March 2020

Research suggests two in five individuals worry about debt levels
Government relaxes insolvency rules during coronavirus pandemic
HMRC urges businesses using VAT deferral to cancel direct debits
HMRC publishes guidance on recognising genuine government contact
Chancellor unveils help for self-employed workers
Pensions at increased risk of being targeted by scammers
Government and financial regulators tell banks to keep lending
Contactless card payment limit set to rise from April
UK facing 'worst recession in modern history'
Regulators request delay in corporate reporting
Increase in home working raises risk of cyber-attacks
Government unveils wage bailout scheme
Coronavirus crisis sees UK interest rates cut to lowest level ever
HMRC delays introduction of off-payroll rules to private sector
View our COVID-19 update
Chancellor unveils £330 billion support package for coronavirus pandemic
HMRC to stop sending automatic paper returns for self assessment
Economists warn of global coronavirus recession
Buy-to-let landlords getting cold feet over sector regulation
View our 2020 Budget Report
Chancellor takes measures to combat coronavirus
Chancellor delivers Budget to meet 'challenging times'
2020 Budget - the economic picture
2020 Budget - the political reaction
2020 Budget - the business reaction
2020 Budget - what to expect
Coronavirus to blame as business confidence falls
Pensions sector loses billions per year to fraud
ICAEW joins industry leaders urging Bank of England to get tough on climate change
Business groups urge Chancellor to take 'strategic approach' to tax policy
Loan charge repayment guidance issued by HMRC
Coronavirus 'gravest threat to global economy since financial crisis', says OECD
FSB states scrapping Entrepreneurs' Relief would 'destroy retirements'

February 2020

Off-payroll working rules get green light for April
IFS urges Chancellor to raise taxes in upcoming Budget
UK public spending to top £1 trillion a year, predicts think tank
Chancellor states IR35 enforcement will not be 'heavy handed'
Government to name and shame minimum wage offenders
Government pledges additional financial support for flooding victims
UK fast becoming cashless, says report
NAO finds tax reliefs cost UK £155 billion per year
Low take-up of TFC linked to poor understanding of scheme
Small landlords exiting buy-to-let market
Rishi Sunak appointed as new Chancellor
Flat growth 'should be a warning to government' ahead of Budget, states FSB
HMRC carries out fewer dawn raids
CBI publishes Budget wishlist
HMRC announces off-payroll changes will not be applied retrospectively
Finance Minister for Scotland outlines tax plans in Scottish Budget
Budget 'must address skills shortages' to boost UK growth, says BCC
UK business confidence bounces back in January
Over 950,000 taxpayers miss self assessment deadline
Company insolvencies increase to highest level since 2013

January 2020

Chancellor raises NIC threshold to £9,500
MTD for VAT proving costly and failing to reduce errors
CIOT warns of 'seismic shift' in CGT rules
IoD calls for government to publish Brexit negotiating objectives
Over three million still to file self assessment returns
HMRC publishes secondary draft legislation for off-payroll reforms
Witchcraft and hamsters amongst worst self assessment excuses
Anti-money laundering penalties total £6.2 billion worldwide in 2019
New legislation aims to tackle late payments
Government promises review of student loans repayment system
WEF states businesses must take action to combat climate change
HMRC issues guidance on recognising phishing emails
Average household debt higher now than during financial crisis, study suggests
Data shows UK GDP shrank in November
Research reveals significant number of UK businesses anticipate a recession in 2020
Self assessment deadline only three weeks away
Employees 'losing five days a year' as result of travel disruption
Government launches review into off-payroll working rules
Chancellor announces post-Brexit Budget date
Data reveals many taxpayers filed self assessment returns over festive period
HMRC raises £5 billion from fraud investigations
UK minimum wage gets largest ever raise

December 2019

Have you made your financial New Year's resolutions?
Don't forget to file your self assessment tax return
Businesses must prepare for festive travel disruption
A quarter of small businesses 'face closure if Christmas trading disappoints'
Late payment delays getting longer, research finds
Government outlines policies in Queen's Speech
UK leading fight against suspicious transactions, financial body finds
WEF states gender pay gap 'will take another century to disappear'
Budget watchdog doubles borrowing forecast
HMRC making fewer tax avoidance deals
Business groups respond to General Election result
Almost half a million taxpayers sought income tax refunds from HMRC, data reveals
ICAEW sounds public finance warning as election approaches
OECD suggests tax revenues 'have reached a plateau'
UK manufacturing jobs cut as sales fall
ICAEW advises employers to take tax implications of seasonal parties into account
UK to press ahead with Digital Services Tax despite warnings from US
Report states counterfeit goods trade costing UK billions
Off-payroll changes to be reviewed
UK SMEs owed £23.4 billion in late payments

November 2019

HMRC collects record £133 billion in VAT
Services sector profits fall sharply
Research reveals UK firms spent £25 billion on R&D in 2018
New version of IR35 checking tool released by HMRC
HMRC issues self assessment scam warning
Firms 'would rather dismiss contractors than deal with IR35', research suggests
Politicians pledge to take action on late payments
Corporation tax cuts put on hold
Number of EIS approvals drops
Dividend payments rise for tenth consecutive year
UK taxes at historical high
Pension scam victims 'could lose 22 years of pension savings in 24 hours'
Off-payroll changes need to be delayed, says FSB
UK avoids recession but economic growth remains slow
Real Living Wage rise boosts pay for thousands
Loan charge review put on hold
OTS calls for overhaul of Personal Tax Accounts
HMRC sets out cryptoasset guidance for businesses
Business confidence at a 10-year low
Improved accuracy for VAT returns under MTD
Committee urges government to fix 'broken' business rates system

October 2019

OBR to publish financial forecast despite scrapping of Budget
More young people saving into pensions due to automatic enrolment
Study reveals UK eighth best country in world for doing business
ONS admits error found in UK public finances
HMRC clamping down on enablers of tax avoidance schemes
Charities failing to implement fraud protection basics
IFS calls for Entrepreneurs' Relief to be scrapped
Investors call for clearer climate-related financial reporting
Government abandons increase in probate fees
Business groups respond to announcement of new Brexit deal
HMRC to give importers no-deal Brexit 'breathing space'
HMRC data reveals significant rise in number of R&D tax credit claims
UK government outlines policies in Queen's Speech
Chancellor announces post-Brexit Budget date
'Lessons must be learned' from loan charge controversy, states ICAEW
OECD considering plans to tax tech giants' profits by jurisdiction
UK productivity suffers worst drop in five years
UK small businesses 'concerned about impact of Brexit on supply chains'
Banking crime cost over £600 million in first half of 2019
UK 'on cusp of recession' after services sector shrinks
Inheritance tax 'could be scrapped', Chancellor hints
Chancellor pledges to increase National Living Wage to £10.50
ATT calls for 'urgent clarity' on off-payroll working changes

September 2019

Bank of England hints at interest rate cut
FCA finds half of pension pots cashed in 'without advice'
Committee calls for frequent flyer tax to tackle emissions
BCC finds 'major gaps' in government no-deal Brexit guidance
BRC urges government to take action in regard to rising card fees
Record inheritance tax take for HMRC
Experts warn Chancellor over insolvency debts
FRC writes to finance directors with advice on preparing for Brexit
One in ten employees 'do not receive a payslip'
UK growth forecast downgraded by ICAEW
IoD states businesses facing 'impossible situation' in regard to Brexit
Think tank calls for tax overhaul
Former NAO chief to lead independent review of loan charge
ICAEW calls for delay to off-payroll working changes
Pace of tax reform has 'slowed', OECD finds
HMRC delays introduction of VAT reverse charge
Tax on sugary snacks 'could be more effective than Soft Drinks Industry Levy'
Chancellor claims 'austerity is over' as he unveils Spending Review
FSB calls on government to tackle 'business crime crisis'
HMRC states around 3.5 million individuals 'yet to benefit from Help to Save'
UK businesses 'negative on economic outlook'

August 2019

£10 million 'Brexit readiness fund' launched for UK businesses
'Bank of Mum and Dad' now one of the UK's biggest mortgage lenders
ICAEW calls for government to simplify Apprenticeship Levy
FTSE 100 companies set aside £4.5bn for tax disputes
HMRC penalties for PAYE late filing and late payment to remain risk-based
HMRC advises VAT-registered businesses to plan for potential no-deal Brexit
UK manufacturing output 'stabilised in three months to August', CBI finds
Think tank urges government to use tax system to combat air pollution
Chancellor states stamp duty liability won't be shifted to property sellers
BRC urges Chancellor to take action on business rates
Four in ten SMEs 'increasing prices as result of higher wages'
MPs call for review of HMRC loan charge
Government fast-tracks Spending Review to give 'financial clarity' on Brexit
Campaigners urge government to introduce 'calorie tax'
UK digital businesses 'struggle with complexity of tax compliance'
Government seeking to end NHS pensions row
Cyber-attacks on small businesses cost £4.5 billion, according to research
ICAEW calls for Prime Minister to tackle 'late payments crisis'
Insolvency figures reach new high
CIOT, IFS and IfG urge Chancellor to 'take a new approach to making tax policy'
Pensions regulator launches consultation on investment governance

July 2019

New OTS project aims to explore simplifying tax reporting for the self-employed
Report suggests neither UK nor EU ready for no-deal Brexit
FMB urges government to delay 'disruptive' VAT changes
TPR warns changing name of a business 'doesn't change pensions duties'
Government set to implement 'plastic packaging tax' in 2022
Government aiming to simplify VAT on capital goods scheme
UK economy 'may have already entered recession'
Many firms 'support extension of pensions auto-enrolment', CBI finds
Public borrowing 'could double in 2020 as result of no-deal Brexit', OBR cautions
Fraud 'costing UK businesses £130 billion each year', report suggests
Wage growth 'accelerates to highest rate since financial crisis'
HMRC urges firms to register for MTD for VAT before August
Research suggests women 'save just a third of amount men do' for retirement
Government publishes Finance Bill 2019-20 draft legislation
OTS outlines alterations to IHT system
UK corruption risks are 'significantly underestimated', Fraud Advisory Panel cautions
Brexit uncertainty 'crippling UK business investment', warns CBI
FSB states small businesses 'incurring mammoth costs' as result of business crime
TPR issues pension scheme warning to savers
Many working parents eligible for tax-free childcare this summer
Economic growth 'stalling', BCC warns
Survey finds business leaders 'committed to tackling climate change'
MPs condemn HMRC for long helpline wait times

June 2019

UK tax gap 'remains low'
Significant number of small firms experienced a cyber-attack in last year, data reveals
Typical UK SME 'worth £2.9 million', according to research
Research suggests small businesses 'unaware of AIA'
TUC calls for mandatory reporting of disability pay gaps
Many businesses 'including climate-related information in financial disclosures'
Government suspends scheme for naming employers who fail to pay NMW
Significant rise in number of data breach notifications since introduction of GDPR
HMRC repays tax penalties worth £1.8 million to nearly 5,000 parents
Rise in rental costs 'deterring young people from moving around country for jobs'
ICAEW responds to government 'off-payroll working rules' consultation
Government tax investigations 'taking three years to complete', data suggests
Business groups outline principles for UK trade policy
Government Equalities Office 'considering gender pay gap reporting for small firms'
Significant number of individuals 'choosing to live cashless life', research suggests
DIT launches online tool for international investors
HMRC launches consultation on the operation of Insurance Premium Tax
OECD outlines timetable for reaching agreement on digital taxation of multinationals
HMRC introduces new system to tackle scam phone calls
FSB urges government to 'push through late payments reform package'

May 2019

UK 'can afford higher minimum wage', states Resolution Foundation
Research suggests data protection fines have 'risen by 14% in a year'
Investment Association calls for 'greater transparency' on dividends
Banking code offering 'increased protection from criminals' takes effect
Millennials living in 'relative poverty', according to think tank
MPs urge government to make 'radical improvements' to apprenticeship programme
Research suggests many individuals 'unaware of IHT rules' when gifting money
OTS calls for review of PAYE system
ATT suggests couples 'could be affected' by increase in stamp duty for non-residents
CBI calls for UK firms to 'improve people management practices'
Welsh taxpayers urged to check payslips following income tax code mix-up
Government launches consultation on Companies House reforms
Cuts to grants 'affecting sales of electric cars in the UK'
Research suggests UK workers 'unaware of entitlement to paid travel time'
FSB urges government to create 'small business plan for Europe'
UK workers 'fear requesting a pay rise', research suggests
Stockpiling by SME manufacturers 'reached record high' last quarter, research finds
CIOT warns Digital Services Tax 'not a cure for struggling high streets'
Bank of England upgrades UK growth forecast
'Record number' of UK workers being underpaid, Commission suggests
AAT urges government to 'fix broken business rates system'

April 2019

Review to outline future of 1p and 2p coins
Government pledges additional £200 million in funding for UK firms
Research suggests 'less than a quarter' of UK SMEs plan to expand overseas
Scottish government announces further delay to Air Departure Tax plans
HMRC warns young people to 'stay vigilant' as number of tax scams rises
Business believes UK tax system is 'fundamentally unfair', research suggests
UK SMEs 'exploring new sources of finance', research finds
Study suggests UK employees 'work longest hours in EU'
Survey reveals businesses 'investing significantly in tax technology'
Experts urge government to simplify Apprenticeship Levy
IFS states high earners 'increasingly hit by lack of indexation'
Business groups react to 'flexible extension' of Article 50
IMF downgrades global growth forecast
TUC states shared parental leave scheme needs 'overhauling'
Government commits to implementation of pensions dashboard initiative
Business leaders urged to 'do more' to help prevent cyber-attacks
Older workers 'may be paying unnecessary tax on State Pension', research suggests
Survey suggests indicators of UK economic health have 'weakened'
MTD for VAT takes effect for over one million businesses
Survey finds awareness of gender pay gap reporting requirements is 'low'

03 Apr 2020

Majority of UK firms have less than three months' cash reserves

A significant number of UK firms face the prospect of running out of cash within three months, according to a survey carried out by the British Chambers of Commerce (BCC).

03 Apr 2020

Major UK banks will pay no dividends or bonuses this year

The seven largest banks in the UK have agreed to the proposal put forward by the Prudential Regulation Authority (PRA) that they suspend dividends and bonuses until the end of 2020.

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