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Business News Archive

News
Business News

May 2022

CBI chief calls for cost-of-living help for people on lower incomes
HMRC issues £14 million in penalties for minimum wage offences
Inflation hits 40-year high of 9%
Charity warns lowest income households will wait longest for council tax rebate
Almost 66,500 filed self assessment returns on 6 April
Pension regulator running spot checks on UK employers
Inflation takes its toll as UK economy contracts in March
New law to protect access to cash announced in Queen's Speech
Shoppers slow spending as consumer confidence dips
FSB finds one in three business owners suffered COVID-related mental health decline
Bank of England warns UK economy to shrink as interest rates rise
Drop online passwords to foil hackers
Number of firms in critical financial distress rises sharply
MPs consider changes to help tackle increasing cost of living

April 2022

Government inaction on long COVID could cost billions
Government borrowing more than halves, data reveals
Data shows IHT receipts up £0.7 billion
Which? warns it is 'now or never' to halt UK's 'cash crisis'
Half of small firms do not expect to grow over coming year, FSB finds
HMRC starts chasing up SEISS overpayments
Energy bosses call for price cap to be scrapped to prevent 'horrific' winter
Export growth is 'stagnant', BCC finds
New HMRC one-stop online shop provides taxpayers with tax relief information
Business groups comment on latest inflation figures
HMRC names avoidance scheme promoters for first time
Research suggests hybrid working saves businesses significant amounts of money
Economic growth slowed in February, data shows
Government pledges major increase in electric car chargers by 2030
UK government unveils energy strategy
Treasury announces it will regulate some forms of cryptocurrency
NIC increase causes businesses to raise prices
Rise in VAT will mean higher prices, businesses warn
Majority of smaller businesses do not understand 'carbon jargon'

March 2022

Report warns 'millions would struggle' in cashless society
HMRC reminds working parents they can receive help with Easter childcare costs
Households on lowest incomes face significant rise in living costs, data finds
Plastic Packaging Tax comes into force this April
Consumer group issues fraud warning on online shopping scams
View our 2022 Spring Statement summary
Chancellor announces rise in national insurance threshold
2022 Spring Statement - what to expect
Chancellor cuts fuel duty in Spring Statement
2022 Spring Statement - the business reaction
2022 Spring Statement - the political reaction
2022 Spring Statement - the economic picture
CMA frees leaseholders from rising ground rents
MTD for VAT brings in an extra £195 million in tax
Bank of England raises interest rates for third month in a row
BCC calls for Spring Statement to tackle cost of doing business crisis
FSB urges Chancellor to 'deliver on low tax pledge' at Spring Statement
HMRC warns taxpayers not to share personal details online
UK economic growth to halve this year, warns BCC
Chancellor must make huge judgment call at Spring Statement, says IFS
Student loan repayments to start at £25,000
82% of VAT registered businesses are still unaware of MTD deadline
FSB calls for relief for small employers in Spring Statement
HMRC collects £30.8 billion through tax probes
SSP Rebate Scheme set to close in March
Over a million take advantage of extra time to file self assessment returns
Manufacturers call for delay to NIC increase
Spring Statement is the time to act, says CBI

February 2022

CBI calls for lateral flow testing to continue
Hybrid working the new norm, survey finds
Two freeports planned for Scotland
Help to Buy scheme pays out £674 million to house buyers
Make super deduction permanent to boost investment, says CBI
Almost 100,000 taxpayers using HMRC's Time to Pay
Real wages fall as pay lags behind inflation
HMRC reminds married couples to utilise Marriage Allowance
Off-payroll rule compliance an issue for HMRC
HMRC raises late payment interest rate to 3%
Businesses urged to apply for remaining COVID-19 support grants
Soaring wage and energy costs force threequarters of UK businesses to raise prices
SDLT 'needs to be reformed', study suggests
FSB urges government to reconsider NICs hike
MPs call for road pricing to replace motoring taxes
Impossible to shield shoppers from rising costs, warns the BRC
CBI says government must protect business from rising energy costs
Government unveils 'Levelling Up' strategy
Over two million still to file self assessment returns
BCC calls for 'urgent action' to improve UK-EU trade

January 2022

National insurance rise 'set to squeeze budgets', warns CBI
Claims portal reopens for Statutory Sick Pay Rebate Scheme
FSB report finds small business growth aspirations 'at pre-pandemic level'
Four million still to file ahead of self assessment deadline
Scam HMRC call reports drop by 97%
Government scheme gives discounts of up to £5,000 on accounting software
Study finds 82% of business owners suffered from poor mental health in pandemic
Treasury writes off £4.3 billion in Covid payments lost to fraud
UK inflation rises at fastest pace for 30 years
No 'convincing case' for digital UK currency, says House of Lords committee
Consumer group urges taxpayers to avoid using refund firms to claim tax rebates
Government launches consultation on global minimum tax for multinationals
COVID-19 support grants must be included on company tax returns
More than one million will be dragged into higher rate tax bracket, research suggests
More than half of SMEs 'confused about plans to level up the UK'
Over £1 billion now recovered by HMRC's fraud squad
HMRC gives self assessment taxpayers more time to ease COVID-19 pressures
Businesses facing 'unprecedented cost pressures', warns BCC
Almost 3,000 file self assessments on Christmas Day
Over 440,000 small firms at risk due to late payment crisis

December 2021

Have you made your financial New Year's resolutions?
Don't forget to file your self assessment tax return
Safeguard your business against adverse winter weather
One in five businesses rely on Christmas sales to survive
Banks join forces to help protect cash services
Chancellor announces £1 billion fund for businesses
Welsh government delivers Budget
Government must act to restore confidence, says CBI
Bank of England raises interest rates to 0.25%
Self assessment taxpayers must declare COVID grants on tax returns
HMRC's Time to Pay plan raises £46 million
Bank of England issues cryptocurrency warning
Climate Change Committee calls for higher tax on household gas
FCA to introduce new consumer duty
New Covid restrictions are a 'setback for businesses', warns CBI
CBI lowers growth forecasts as economy faces headwinds
Gender pay gap has seen 'barely any change' over past 25 years, IFS finds
Rising inflation could push family spend up £1,700 a year
FCA urges banks to free 'mortgage prisoners'
Government responds to OTS report on CGT
Government sets out tax details on TAM Day

November 2021

Services sector continues to recover despite rising costs
Third of UK manufacturers struggling with debt and rising costs, research suggests
House sales drop dramatically after stamp duty holiday ends
Data requests 'costing businesses thousands each year', research suggests
PM announces electric vehicle revolution
Taxpayers warned over refund companies
Customs Declarations from EU changing on 1 January
Jobs recovery continues despite end of furlough
Three-day wait for Statutory Sick Pay to return next year
HMRC issues warning on self assessment scams
Real Living Wage increases as cost of living rises
Only a third of businesses taking action to cut emissions
UK economic recovery slowed by supply problems
Time running out for HMRC customers with Post Office card accounts
Cryptocurrency tax gap triples
New law introduced to help protect pension savers from scammers
HMRC's tax take falls by billions due to pandemic
Bank of England hints interest rates could rise in coming months
Household finances not set to return to pre-COVID levels until 2023
Costs 'weighing on businesses' sustainability intentions', FSB finds
Payment period on residential CGT is doubled
IFS predicts millions to be worse off next year due to tax rises

October 2021

Treasury received five million malicious emails over past three years, research finds
Chancellor makes significant changes to fuel duty and alcohol duty
View our 2021 Autumn Budget Report
2021 Autumn Budget - what to expect
Chancellor delivers Budget to lay foundation for a strong economy
2021 Autumn Budget - the economic picture
2021 Autumn Budget - the political reaction
2021 Autumn Budget - the business reaction
CBI urges government not to introduce business tax rises
'Bank of mum and dad' financing half of first-time purchases, research finds
Manufacturing activity remains firm, but supply pressures mount, says CBI
FSB study shows small firms losing £25 billion per year to tax admin
Heat pump grants worth £5,000 to help replace gas boilers
Pensions experts say a minimum of £10,900 a year needed to retire
Applications now open for freeports
Over 40 trade associations back statement on business rate reform
Deadline for 2020/21 self assessment tax returns approaching
Chancellor has 'little room for manoeuvre' in the Budget
ICAEW calls for Autumn Budget to 'accelerate work to build modern tax system'
Three in ten firms to employ fewer people as result of NIC increase, IoD finds
Business groups warn that fragile economy is on shaky ground
IoD urges government to introduce tax super-deduction for investment in retraining
FSB warns tax rises 'threaten recovery from pandemic'
Chancellor commits £500 million to extend job support schemes
Working Tax Credit customers must report changes to working hours
Off payroll rules the forgotten factor driving the HGV crisis, says IPSE

September 2021

Chancellor warned of redundancies as furlough scheme ends
New emergency fraud hotline launched
£800 million Reinsurance Scheme opens for live events
Government announces plans to make requesting flexible working a day one right
Making Tax Digital for Income Tax self assessment delayed for a year
IoD urges government to reduce planned level of business tax rises
British Business Bank provided £81.5 billion of COVID-19 support
CBI survey finds three quarters of firms worried about labour shortages
COVID-19 sick pay rebate scheme to end on 30 September
OTS says changing date of tax year end would be beneficial
FSB survey suggests unemployment to rise by 50,000 as result of NICs rise
Inflation sees sharpest increase on record
Higher taxes and lower business investment 'not a plan for growth', warns CBI
Thousands of teenagers missing out on Child Trust Fund cash
1.6 million still on furlough in July
Chancellor to deliver Autumn 2021 Budget on 27 October
Business groups warn over tax increases
Staff shortages could continue for two years, warns CBI
Tax-Free Childcare can ease the cost of the return to school, says HMRC
Drop proposed basis period reform, urges ICAEW
FSB suggests business rates system 'disincentivises investment'
UK business confidence at four-year high

August 2021

Contactless limit to increase to £100 from 15 October
HMRC urges taxpayers to stay alert to digital scams
UK recovery slows as staff shortages take their toll
CIOT warns over stamp duty refund claims
HMRC outlines changes to late payment penalty regime
Deadline looms for parents to update Child Benefit for 16-year-olds
Study reveals 83% of businesses not aware of Plastic Packaging Tax
FSB warns inflationary pressure threatens to 'stifle recovery among small firms'
HMRC publishes list of excuses given by employers for not paying minimum wage
Wage rises could result in price spikes, employers warn
IoD warns staff shortages 'could undermine recovery'
Two-fifths of freelancers lost over 40% of turnover during pandemic
UK partners and sole traders face bigger tax bills in 2022
Almost 1.8 million couples claiming marriage allowance
Only 11% of businesses are measuring their carbon footprint
Employers 'named and shamed' for paying less than minimum wage
Digital marketplaces to report sellers' incomes from 2023, HMRC confirms
SME manufacturing activity grew at record pace, CBI survey reveals
BCC calls for government to extend skills training
CBI survey reveals bumper growth in private sector activity
Empty shop numbers continue to rise

July 2021

Data reveals nearly two million workers remain on furlough scheme
ICAEW urges HMRC to scrap exemptions to simplify VAT rules
Public trust in charities reaches highest level since 2014
SMEs 'keen to invest in growth but struggle to find financial backing', says survey
Government announces simplified tax reporting for self-employed and small firms
FSB urges government to provide SMEs with better access to support and advice
UK to overhaul funding of research and development
HMRC launches consultation on basis period reform
CIOT urges government to make tax system easier to navigate
CBI calls for urgent solution to 'crippling staff shortages'
Over 40% of UK employers planning to increase investment in skills
Job vacancies increase to over pre-pandemic levels
High Street sales bounce back in spring
Government urged to provide more clarity over reopening
International tax reform backed by 130 countries
HMRC publishes guidance on the fifth SEISS grant
Average losses from pensions scams now over £50,000
Businesses borrowed £79 billion in COVID-19 support loans
Questions remain over re-opening, say business groups
Aftermath of COVID-19 pandemic has caused 'significant rise in costs for businesses'
800,000 claim tax relief for working from home
Furlough scheme starts to wind down

June 2021

13,000 investigations launched into COVID-19 support scheme fraud
CBI warns of 'perfect storm' of staff shortages
Schemes create one stop shop for VAT on EU trade
Flexible rail fares must be just the start of changes, says BCC
Cash payments fell by over a third during 2020
UK economy back to pre-covid level by end of year
UK Infrastructure Bank opens for business
Delayed EU import declarations due
Commercial rent moratorium extended until March 2022
Over 280,000 families now using Tax-Free Childcare
Finance Act 2021 receives early Royal Assent
Business groups press for further support after lockdown easing delayed
HMRC outlines intention to recover £1 billion in fraudulent furlough funds
R&D relief regime ready for update, says ICAEW
Cash boost for apprenticeships launched
OTS considers moving tax year end
G7 announces global tax agreement
Bounce Back Loan repayments due for many small businesses
TUC suggests UK 'lagging behind G7 peers in green jobs plans'
Fifth SEISS grant will be open to claims from late July
Remote working was most common form of working during pandemic, BCC finds
Economic growth accelerates in three months to May

May 2021

Trade credit insurance scheme to close
Optimism across UK services sector has 'improved significantly', CBI finds
Number of freelancers increases for first time since onset of pandemic
Finance Bill outlines amendments to super-deduction
Plastic bag charge doubled in all shops in England
HMRC's VAT Deferral New Payment Scheme to close in June
NIC reliefs set for Freeports
Almost 950,000 have already filed 2020/21 self assessment returns
UK unemployment rate falls to 4.8% in March
Government confirms start date for Plastic Packaging Tax
Effectiveness of OTS set to be reviewed by Treasury
Data finds HMRC received 91,000 calls to report fraud in first months of pandemic
UK economy shrank 1.5% in first quarter of 2021, data reveals
Record level of Apprenticeship Levy funds expired in 2020, research finds
Next step of roadmap out of lockdown to take effect from 17 May
UK economy set to grow rapidly once COVID restrictions are relaxed
Optimism amongst SME manufacturers has risen significantly, survey suggests
Businesses planning to adopt 'hybrid' working after easing of COVID restrictions
CBI calls for more clarity on COVID-19 roadmap

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