Alwyns Chartered Accountants

Latest News

• Planning for a prosperous 2012

  30 December 2011

  The coming of the New Year is traditionally a time to take a step back and reflect on the months gone by, and to make plans for the year ahead.

• Slow business prompts thousands of firms to close over festive break

  29 December 2011

  Millions of workers are enjoying an extended Christmas break this year after thousands of businesses chose to remain closed during holiday period, according to the Centre for Economics and Business Research (CEBR).

• Deadline looming for the Self Assessment Tax Return

  28 December 2011

  31 January 2012 marks the deadline for filing the 2011 Self Assessment Tax Return with HM Revenue & Customs (HMRC).

• High Street set for welcome Christmas bonus

  23 December 2011

  The UK’s High Streets are set to receive a much-needed boost this month, with a recent survey reporting the first positive performance since May.

• Banks to scrap foreign currency debit card charges

  22 December 2011

  Customers will no longer be charged a fee for purchasing foreign currency in the UK with a debit card, it has been revealed.

• Business groups ‘welcome banking sector reform’

  21 December 2011

  UK business groups have given a broad welcome to the Government’s statement on reforming the structure of banking in the UK.

• MPs criticise HMRC’s ‘cosy relationships’ with big business

  20 December 2011

  HM Revenue & Customs (HMRC) has been accused of enjoying ‘unduly cosy’ relationships with big business, following the revelation that there remains more than £25 billion worth of unresolved tax issues with major companies.

  In a new report, the Public Accounts Committee said it had ‘serious concerns’ about how some large settlements were reached and singled out Dave Hartnett, permanent secretary for tax, for his role in negotiations with big firms.

  The MPs claim that some big companies had been let off billions of pounds in tax payments because they were receiving ‘preferential treatment’ from the tax authority.

  Margaret Hodge, the former Labour minister who chairs the committee, said: ‘This report is a damning indictment of HMRC and the way its senior officials handle tax disputes with large corporations. We uncovered both specific and systemic failures which must be addressed.’

  However, HMRC rejected the committee’s conclusions. ‘The report is based on partial information, inaccurate opinion and some misunderstanding of facts,’ a spokesman said.

  ‘Senior HMRC officials sought to be co-operative by providing as much information as possible within the legal constraints of taxpayer confidentiality.’

• Business groups unite in call for late payment action

  19 December 2011

  Leading business groups have come together to urge the Government to tackle the problem of late payment, in order to support small businesses and help foster economic recovery in the UK.

• Employment tribunal fees 'will boost business'

  16 December 2011

  The Government has launched a consultation on its proposals to introduce a system of fees for individuals who wish to raise a case in an employment tribunal.

  Two alternative options for the new fee system have been put forward, which involve either:

  An initial fee of £150-£250 to enable an employee to raise a claim, with an additional fee of between £250 and £1250 if the claim goes to a hearing, and no maximum limit to the award; or

  A single fee of £200-£600, with the maximum award capped at £30,000. Those seeking awards above this threshold would be given the option of paying an additional fee of £1,750.

  The stated aim of the proposals is to encourage both parties to work through their issues before reaching the employment tribunal stage, and to discourage weak or ‘vexatious’ claims.

  Commenting on the launch, Justice Minister Jonathan Djanogly said, ‘Currently, the UK taxpayer bears the entire £84 million cost per year of resolving other people’s employment disputes at tribunals. This is not sustainable’.

  Fee waivers will be available to those on low incomes, and the tribunal will have the power to order the unsuccessful party to reimburse the fees of the successful party.

  The British Chambers of Commerce (BCC) has welcomed the proposals, arguing that they will boost employers’ confidence and encourage them to take on staff.

  Adam Marshall, Director of Policy at the BCC, said, ‘The average cost for an employer to defend themselves at tribunal is £8,500. However three-fifths of tribunal claims are settled due to high costs, with the average settlement at £5,400. According to BCC research, one in five businesses has been threatened with a tribunal in the last three years’.

  However, the TUC has raised its concerns over the likely impact of the new system on lower paid workers.

  The TUC’s Brendan Barber commented, ‘Employment tribunals are a key way of enabling workers to enforce their rights. Government proposals to introduce a fee to lodge an initial claim – and then possibly a further charge for a full hearing – will effectively prevent the poorest and most vulnerable workers from ever being able to get justice’.

  ‘Because the fees will be paid upfront and only refunded if a claim succeeds, the poorest workers and those without union backing will struggle to pay these costs. They are also the most likely to be deterred from pursuing a claim.’

  The consultation will run until 6 March 2012.

• New taskforce seeks to ‘diversify business finance’

  15 December 2011

  Business groups have welcomed the introduction of a new industry-led Taskforce which will seek to boost the finance options accessible to UK firms.

• Revenue confirms all businesses must file VAT online

  14 December 2011

  HM Revenue & Customs (HMRC) has confirmed that with effect from 1 April 2012, all VAT-registered businesses must file their VAT returns online and make payments electronically.

• Don’t neglect the High Street this festive season, says FPB

  13 December 2011

  As latest figures reveal a sharp increase in online shopping, a leading business group is advising shoppers not to neglect the high street in the run-up to Christmas.

  The Forum of Private Business (FPB) suggests that consumers refrain from buying all of their festive gifts online and instead spread purchases across both the internet and their local High Street.

  It claims this will help to avoid a repeat of the chaotic scenes from last year, when bad weather crippled postal services and left many items undelivered before Christmas.

  Some experts have predicted that online festive sales could rise by up to 17% when compared with last year.

  ‘With this year’s surge in internet shopping and hundreds of thousands more parcels in the system than anticipated, the delivery network will be even less able to cope in the event of another bout of bad weather,’ said Phil McCabe, Senior Policy Adviser at the FPB.

  ‘With this in mind we would remind Christmas shoppers not to forget their local high street shops, which offer unrivalled levels of service, choice and quality.’

  He added: ‘Shoppers last year saw that there were downsides to shopping exclusively on ‘cyber street’ as opposed the high street. The appalling weather, which left roads blocked, highlighted the problems of relying on second parties to deliver goods when deadlines are crucial.

  ‘With forecasters predicting more wintry weather for parts of the country in the run up to Christmas, people should think twice before putting all their shopping eggs in one basket this year.’

  The warning comes as retail expert Mary Portas prepares to unveil her report into the British High Street, in which she will suggest that years of neglect and the growth of online shopping have contributed to the decline of many town centres across the UK.

• Small business group calls for ‘adequate broadband access for all’

  12 December 2011

  The Federation of Small Businesses (FSB) is calling on the Government to ensure that its broadband policy will allow all small firms access to adequate broadband facilities.

• Tutors and coaches urged to disclose unpaid tax

  09 December 2011

  HM Revenue & Customs (HMRC) has issued a reminder to individuals wishing to take part in its new Tax Catch Up Plan.

• Statutory residence test delayed until 2013

  08 December 2011

  The implementation of the statutory residence test looks set to be delayed after draft legislation was excluded from the 2012 Finance Bill.

• 2012 Budget will be on 21 March, says Osborne

  08 December 2011

  The 2012 Budget will take place on Wednesday 21 March, the Chancellor George Osborne has announced.

• Number of business closures hits record levels

  07 December 2011

  A record number of UK businesses were forced to close last year, new figures have revealed.

• New rules to help ISA investors hit by collapse of financial firm

  06 December 2011

  Plans to enable investors to ‘top-up’ ISA savings lost in the collapse of a financial firm have been outlined by the Treasury.

  Under the current rules, investments or cash lost due to the collapse of a provider or bank would still be treated as falling under the £10,680 annual allowance.

  However, in a statement to MPs, the Financial Secretary to the Treasury, Mark Hoban, said the Government intends to change the ISA rules to permit investors affected by such a failure or default to make certain ISA investments over and above the normal subscription limits.

  ‘We intend that investors who have lost their cash ISA will be permitted to reinstate up to the balance of their account at the time of the firm’s failure in a new ISA, outside the normal subscription limits,’ he told MPs.

  He added; ‘[The changes] will enable investors whose ISAs are affected by the failure or default of a financial firm to continue to benefit from tax-advantaged savings.’

  The new regulations, which are expected to be finalised in spring 2012, formalise arrangements that were put in place following the collapse of several financial providers, including the Icelandic bank Icesave.

  From April 2012 the annual amount that can be invested in a tax-free ISA is due to rise from £10,680 to £11,280, half of which can be saved in cash.

• One in three office parties 'risks legal issues'

  05 December 2011

  A recent survey has suggested that the office Christmas party can represent something of a legal minefield for employers.

• Businesses given one month to comply with VAT rules

  02 December 2011

  Those businesses that should be registered for VAT, but have failed to register with HM Revenue & Customs (HMRC), have been given until the end of the month to complete the registration process.

  Earlier this year, HMRC launched a VAT initiative offering businesses that had not yet registered for VAT the opportunity to put things right.

  Under the scheme, those businesses which notified their intention to make a tax disclosure must now register for VAT by 31 December. They will then receive their VAT registration number and will need to submit their first VAT return and make arrangements to pay. The majority of businesses registering with HMRC before 31 December will face a lower penalty rate on the VAT owing.

  All eligible businesses which have an annual turnover in excess of the threshold (currently £73,000) must register for VAT.

  Since the closure of the initiative, HMRC has been identifying those businesses trading above the VAT registration threshold but which have still not registered, and intends to target them early in the New Year. Such businesses could be subject to significantly higher penalties, and run the risk of criminal prosecution.

  We can help with all your VAT planning needs – please contact us for further advice and assistance.

• Auto-enrolment delay ‘could restrict new jobs’

  01 December 2011

  Plans to delay pension auto-enrolment for small firms could lead to businesses imposing a cap on the number of new employees that they take on, some experts have claimed.

• Autumn Statement: Rise in state pension age brought forward

  30 November 2011

  Millions of people will need to work for longer after the Chancellor George Osborne announced that the state pension age will rise to 67 between 2026 and 2028 – eight years earlier than planned.

• Chancellor vows to ‘protect against the debt storm’

  30 November 2011

  With the latest report from the Office for Budget Responsibility painting a sombre outlook for the UK economy, Chancellor George Osborne has vowed that the Government will do whatever it takes to protect against ‘the sovereign debt storm’.

• Business reacts to Autumn Statement announcements

  30 November 2011

  The UK’s leading business organisation, the Confederation of British Industry (CBI), has given a broad welcome to the 2011 Autumn Statement, which it has described as the Government’s “Plan A Plus” in all but name.

• 2011 Autumn Statement: the political reaction

  30 November 2011

  Opposition politicians and public bodies have given mixed reactions to Chancellor George Osborne’s 2011 Autumn Statement.

• Business calls for measures to boost growth, as Autumn Statement looms

  29 November 2011

  As Chancellor George Osborne prepares to unveil his 2011 Autumn Statement, business groups have reiterated their calls for measures to boost the UK’s ailing economy and support long-term growth.

• Credit easing scheme to ‘provide £40bn in business loans’

  28 November 2011

  Chancellor George Osborne has unveiled further details on the Government’s new ‘credit easing’ scheme ahead of tomorrow’s Autumn Statement.

• Government launches £1bn scheme for young unemployed

  25 November 2011

  The Government is to create 400,000 work and training placements to help tackle record levels of youth unemployment.

• Micro businesses ‘need targeted support’, argue MPs

  24 November 2011

  The definition of ‘micro businesses’ should be changed to enable Britain’s smallest firms to benefit from targeted support and legislation, MPs have argued.

• Business groups react to ‘radical employment law reform’

  23 November 2011

  The Government has unveiled a series of sweeping changes to employment law, which will make it more difficult for workers to raise a claim against their employer for unfair dismissal, and easier for employers to hire – and fire – their staff.

• Cameron outlines strategy for growth but warns of ‘tough times ahead’

  22 November 2011

  The Prime Minister David Cameron has outlined the Government’s strategy for growth, conceding that Britain faces challenging economic times ahead.

  Speaking at the CBI conference this week, Mr Cameron said the Chancellor’s upcoming Autumn Statement would include plans to improve the country’s infrastructure by building on investment in transport, energy and superfast broadband networks.

  He also signalled that George Osborne would use next week’s Statement to unveil a new credit easing scheme to boost lending to small and medium-sized businesses.

  However, the Prime Minister reaffirmed the Government’s commitment to its deficit reduction plan, adding that this was still ‘line one, clause one, part one’ of the strategy for economic recovery.

  He also admitted that the Government was braced for disappointing growth figures next week when the Office for Budget Responsibility publishes its latest forecasts.

  ‘We are recovering from a debt crisis, not a traditional recession,’ he told the conference.

  He continued: ‘I am absolutely clear about the right answer for the UK economy. It can be summed up in one sentence – we need to deal with our debts and go for growth.

  ‘We need a fundamental rebalancing of the economy – more investment, more exports, and a broader base to an economic future. If policy is not directed towards this goal it will fail’.

• New ‘small claims’ service for intellectual property cases

  21 November 2011

  The Government has confirmed its plans to introduce a new small claims service at the Patents County Court, in order to simplify the system for small and medium-sized businesses (SMEs) that wish to enforce their intellectual property rights, while reducing the financial risk to business owners through the introduction of new financial limits.

• Government announces new incentives for apprenticeships

  18 November 2011

  The Government has announced a series of new measures aimed at encouraging small businesses to offer apprenticeships to young people.

• Bank of England warns of ‘difficult economic recovery ahead’

  17 November 2011

  The Bank of England has cut its economic growth forecast amid increasing uncertainty over the UK’s economic recovery.

• Small business group welcomes new ‘Finance Fitness’ scheme

  16 November 2011

  The Forum of Private Business (FPB) has welcomed the Government’s new Finance Fitness initiative, which aims to improve the finance and cash flow issues faced by small businesses.

• Government unveils plans for simpler personal taxes

  15 November 2011

  The Government has launched a new consultation setting out its vision for a simpler and more transparent personal tax system.

• Film tax relief extended to 2015

  14 November 2011

  The British film industry has welcomed the extension of the film tax relief scheme to 31 December 2015.

• Business group labels solar tariff cut ‘an own goal’

  11 November 2011

  Business group labels solar tariff cut ‘an own goal’

• Online shoppers warned of unexpected tax bill

  10 November 2011

  Online shoppers have been warned that they could face an unexpected tax bill when ordering gifts from outside the EU.

• Calls for extension to national insurance ‘holiday’ scheme

  09 November 2011

  The Government is being urged to extend the scope of its regional employer national insurance (NIC) ‘holiday’ scheme, as figures reveal continuing low levels of take-up by small businesses.

• R&D tax reform could ‘create thousands of jobs’

  08 November 2011

  Business groups have welcomed plans to reform the tax relief available for research and development (R&D), after it was reported that the changes could create thousands of extra jobs.

• Businesses urged to prepare for harsh winter weather

  07 November 2011

  Small businesses are being urged to start planning now for adverse winter weather, as forecasters predict the arrival of harsh weather conditions towards the end of the month.

• Small businesses ‘hit by record levels of late payment’

  04 November 2011

  The UK’s late payment culture is getting worse, with the amount owed to small and medium-sized enterprises reaching record levels, a new report has revealed.

• Further changes to VAT relief ‘in the pipeline’

  03 November 2011

  The Treasury is investigating further changes to VAT relief on goods imported from outside the EU, it has revealed.

• Small business group calls for energy price regulation

  02 November 2011

  Small businesses are struggling to deal with spiralling inflation, with rising energy costs proving the most damaging, according to a new report from the Forum of Private Business (FPB).

• New Junior ISA is launched

  01 November 2011

  An estimated six million children are now eligible for a new Junior ISA following the launch of the tax-free savings account on 1 November.

• Give firms a tax break for hiring jobless young, urges CBI

  31 October 2011

  UK firms should be given a tax incentive for taking on jobless young people as part of a range of measures to curb rising youth unemployment, according to a leading business group.

• Employers’ relief would reduce sickness absence costs, says FSB

  28 October 2011

  The Government is being urged to introduce a small employers’ relief to help firms alleviate the financial effects of staff sickness absence.

• UK families ‘failing to plan for later life’

  27 October 2011

  The majority of UK parents have not made a Will or carried out any form of inheritance tax planning, according to a new survey.

• Leaked report calls for unfair dismissal rules to be scrapped

  26 October 2011

  The unfair dismissal rules should be scrapped to make it easier for employers to sack unproductive workers, a leaked Government report suggests.

• Paper Tax Return deadline looming

  25 October 2011

  Taxpayers only have a few days to file their Tax Return on paper without incurring a penalty.

• Call to boost support for ‘forgotten army’ of medium-sized firms

  24 October 2011

  The Confederation of British Industry (CBI) has called on the Government to provide more support to the UK’s ‘forgotten army’ of medium-sized businesses.

• ‘Small business confidence plummets’ amid rising costs

  21 October 2011

  Confidence among small business owners has fallen significantly as a result of weak demand and rising costs, a new report from the Federation of Small Businesses (FSB) has warned.

• Third of workers ‘may opt out of pension auto-enrolment’

  20 October 2011

  Around one in three employees will opt out of the Government’s new national pension scheme unless providers are open about their charges, the National Association of Pension Funds (NAPF) has warned.

• ‘Millions of taxpayers’ set for rebate

  19 October 2011

  As many as six million taxpayers will be entitled to a tax rebate in the coming months, with an average value of £400, HM Revenue & Customs (HMRC) has confirmed.

• Employers urged to check PAYE paperwork

  18 October 2011

  Employers are being urged to check their PAYE paperwork after HM Revenue & Customs (HMRC) revealed that it had encountered problems with a large number of returns due to incorrect or misleading information.

• Business calls for manufacturing boost ahead of Autumn Statement

  17 October 2011

  The UK’s leading manufacturers’ organisation, the EEF, has called on the Government to introduce urgent measures to help boost business growth, including tax cuts and industry incentives, in next month’s Autumn Statement.

• Second rise in state pension age delayed by six months

  14 October 2011

  The Government has delayed its plans to increase the state pension age to 66, following concerns that many thousands of women will have to wait longer to collect their pensions.

• Report calls for targeted tax cuts to kick-start economy

  13 October 2011

  Tax cuts targeted at business and Britain’s top earners would help to kick-start the UK’s ailing economy, according to a new report.

• Small businesses urged to protect against online fraud

  12 October 2011

  A leading business group is urging small business owners to do more to protect themselves against online fraud.

• Record number of fines issued to late filers

  11 October 2011

  The number of fines issued for late Tax Returns has reached a record high, according to recent press reports.

• Stress ‘becomes top cause of workplace absence’

  10 October 2011

  Stress has now become the main cause of long-term sickness in the workplace, overtaking medical conditions such as cancer and repetitive strain injury, a new survey has revealed.

• Government launches new online patent service

  07 October 2011

  The Intellectual Property Office (IPO) has launched a new online patent information system, which could save businesses nearly £100,000 a year.

• Business calls for tax incentives to boost private lending

  06 October 2011

  The Government is being urged to cut taxes for private lenders and equity investors in a bid to increase the flow of credit to small firms.

• Unfair dismissal rule change ‘could save business millions’

  05 October 2011

  The Government has announced changes to the rules on unfair dismissal, which could save British businesses nearly £6 million a year.

• New credit easing scheme to ‘help struggling businesses’

  04 October 2011

  The Chancellor George Osborne has outlined plans to introduce a new multibillion-pound ‘credit easing’ scheme in a bid to help small businesses gain access to finance.

• New employment regulations come into force

  03 October 2011

  A raft of new employment regulations have come into effect, including a 15p increase in the national minimum wage, new rights for agency workers, and the final abolishment of the default retirement age.

• Agency workers gain greater rights

  30 September 2011

  Employers must ensure that they give agency workers similar rights in pay and benefits to those of permanent workers, following the introduction of new legislation.

• UK will ‘resist new EU financial tax’

  29 September 2011

  The UK will ‘resist’ plans to impose a new tax on financial transactions between EU members, it has emerged.

• ‘Urgent action’ needed to boost creative industries skills gap

  28 September 2011

  The Confederation of British Industry (CBI) is calling for urgent action to be taken to boost the UK creative industries sector.

• Government publishes red tape report

  27 September 2011

  The Government has published a new report on the status of its programme to reduce red tape for UK businesses.

• Business group calls for new growth measures

  26 September 2011

  The Government must do more to promote UK growth, the British Chambers of Commerce (BCC) has warned.

• HMRC closes the ‘tax gap’

  23 September 2011

  The difference between the amount of tax that should in theory be collected by HMRC and what actually is collected – known as the ‘tax gap’ – has fallen by £4 billion.

• Warning of ‘soar’ in fake HMRC phishing emails

  22 September 2011

  HM Revenue and Customs has reported a 300% rise in fraudulent ‘phishing’ emails over the past year, with over 24,000 scam emails reported to HMRC in August alone.

• New guidance on minimum wage for work experience staff

  21 September 2011

  The Government has issued new guidance for businesses who offer work experience, placements and internships, designed to clarify when someone is entitled to the National Minimum Wage (NMW).

• Quantitative easing ‘prevented new recession’, claims Bank of England

  20 September 2011

  An analysis by the Bank of England claims that its policy of injecting money into the economy through quantitative easing (QE) saved Britain from a double-dip recession.

• Cable demands that top companies justify executive salaries

  19 September 2011

  Firms should be forced to justify large executive salaries and bonuses to their shareholders, according to Business Secretary Vince Cable.

• IFS calls for radical overhaul of the UK tax system

  16 September 2011

  The Institute for Fiscal Studies (IFS) – a leading financial think tank – has published a review which calls for radical reform of the UK tax system, including abolishing fuel duty and stamp duty, expanding VAT and fully integrating National Insurance and income tax.

• HMRC issues reminder on new Self Assessment penalties

  15 September 2011

  HM Revenue & Customs has issued a reminder about the new Self Assessment penalties for late returns and late payments, which come into effect this autumn and apply to returns for 2010/11, and all future financial years.

• 50p tax rate “may not raise any extra revenue” claims

  14 September 2011

  The Institute for Fiscal Studies (IFS) has found that the 50p tax rate for Britain’s highest earners may not raise any extra revenue for the Treasury and could actually reduce it, according to a report by the Sunday Times, as wealthy Britons either move abroad or take advantage of permissible tax avoidance schemes to escape the rate.

• ICB report calls for major reform of banking structure

  13 September 2011

  The Independent Commission on Banking (ICB), backed by the Government and led by Sir John Vickers, has concluded that banks should ring-fence their retail banking divisions from their riskier ‘casino’ investment banking operations, to protect customer savings and prevent future taxpayer-funded bailouts.

• State pension age to ‘rise earlier than planned’

  12 September 2011

  The Government is to consider accelerating the rise in the state pension age following concerns that the current timetable is ‘too slow’.

• Recession fuels decline in pension contributions

  09 September 2011

  The number of people saving into a pension scheme has dropped by almost a half during the past two decades, new figures have shown.

• Savers ‘miss out on £43bn in interest’

  08 September 2011

  Historically low interest rates are adding to the woes of millions of savers looking to boost the return on their investments, new research suggests.

• Autumn Statement date is announced

  07 September 2011

  The Chancellor George Osborne will make his Autumn Statement on 29 November, the Treasury has announced.

• 50p tax rate doing ‘lasting damage’, say economists

  07 September 2011

  The Chancellor George Osborne is being urged to scrap the 50p tax rate amid concerns over the UK economy.

• New measures to help employers take on apprentices

  06 September 2011

  The Government has unveiled a package of measures aimed at making it easier for employers to take on apprentices.

• Auto-enrolment plans ‘will lead to fall in pension contributions’

  05 September 2011

  A third of employers are planning to cut their spend on workplace pensions in an attempt to mitigate the cost of the forthcoming reforms to the pension regime, a new study has found.

• BCC cuts economic growth forecast to 1.1%

  02 September 2011

  The British Chambers of Commerce (BCC) has cut its UK economic growth forecast for the third time this year following disappointing results in the second quarter of 2011.

• HMRC to check mortgage applications

  01 September 2011

  Mortgage applications could come under scrutiny from HMRC following the launch of a new scheme designed to tackle fraud.

• Gender pay gap ‘could take 98 years to close’

  31 August 2011

  The gender pay gap between men and women could take nearly 100 years to close, according to recent estimations.

• Small firms could benefit from simpler reporting requirements

  30 August 2011

  Up to five million small businesses could benefit from simplified reporting requirements if Government plans are given the go-ahead.

• UK businesses ‘turning to eBay’

  26 August 2011

  The online marketplace eBay has reported a ‘surge’ in the number of businesses using its services since the start of the recession.

• More shops left empty as consumer numbers fall

  25 August 2011

  More than 10% of shops in towns and cities across the UK were vacant at the end of May, latest figures have revealed.

• Cheque payments need to be improved, say MPs

  24 August 2011

  A Committee of MPs has called for improvements to be made to cheques, including reducing the ‘delays and uncertainty’ surrounding cheque payments.

• Communities secretary warns against ‘mansion tax’

  23 August 2011

  Imposing a tax on properties worth £1 million or more would be a ‘very big mistake,’ according to the Communities Secretary, Eric Pickles.

• Household finances ‘worse than in the recession’

  22 August 2011

  Household finances are declining at their fastest pace since the height of the recession in February 2009, new research suggests.

• Skills shortage ‘hampering micro firms’ ability to grow’

  19 August 2011

  Micro businesses are struggling to fulfil their ambition to grow because they are unable to find the right staff, a new report has claimed.

• Cameron pledges to support business as latest enterprise zones revealed

  18 August 2011

  The Government has announced the locations of 11 new enterprise zones in England in a bid to boost local economies.

• HMRC proposes to move more VAT filing online

  17 August 2011

  HM Revenue and Customs has launched a consultation on the next steps for moving VAT online.

• Government closes capital allowances loophole

  16 August 2011

  The Government has brought forward the closure of a loophole which allowed businesses to accelerate capital allowances claims for plant and machinery and obtain advantageous early tax relief.

• Chancellor confirms 50p tax rate ‘under review’

  15 August 2011

  The Chancellor George Osborne has confirmed that HMRC is reviewing the 50% top rate of income tax, fuelling speculation that the rate will be scrapped next year.

• Osborne warns of ‘long hard recovery’ ahead

  12 August 2011

  The Chancellor George Osborne has conceded that the UK’s economic recovery will take ‘longer and be harder than hoped’ following recent turbulence in the global financial markets.

• First-time buyer loans on the rise

  11 August 2011

  Around 18,000 loans for first-time buyers were approved in June, the highest number in 10 months.

• Tax and red tape ‘hampering small firms’ efforts to go green’

  10 August 2011

  Tax and red tape are hampering small firms’ efforts to become more environmentally friendly, according to new research by the Forum of Private Business (FPB).

• Flexible working plans ‘could undermine deregulatory drive’

  09 August 2011

  Plans to extend the right to request flexible working to all employees could undermine the Government’s efforts to tackle red tape, a leading business group has claimed.

• Pay freeze for three-quarters of staff, says CIPD

  08 August 2011

  More than three-quarters of UK workers have had their pay frozen this year, latest figures from the Chartered Institute of Personnel and Development (CIPD) have shown.

• Intellectual property laws to be overhauled

  05 August 2011

  The Government has unveiled plans to overhaul the UK’s intellectual property laws in a bid to boost economic growth.

• No rate rise until 2012, predict economists

  04 August 2011

  It is unlikely that interest rates will rise before next year, according to some of the country’s leading economists.

• Deregulatory measures ‘to help SMEs access equity finance’

  03 August 2011

  Two deregulatory amendments to the EU Prospectus Directive have been brought into force a year early in a bid to make it easier for small firms to access equity financing.

• Pensions system in ‘urgent need of reform’

  02 August 2011

  The UK pensions system is in ‘urgent need of reform’ after it emerged that some 14 million people do not have a workplace pension.

• HMRC apologises for ‘poor performance’

  01 August 2011

  HMRC has apologised to taxpayers after a new report exposed a raft of problems with its services.

• OTS seeks views on latest tax simplification proposals

  29 July 2011

  Firms are being invited to give their views on new proposals aimed at simplifying small business taxation.

• Capital allowances ‘too complicated’ for small businesses

  28 July 2011

  Tax breaks designed to encourage businesses to invest in new equipment are overly complex and fail to boost spending, a new study suggests.

• Delay in tax statements as HMRC fails to order enough paper

  27 July 2011

  Statements about self assessment balancing payments will be delayed this year for some 500,000 people after HMRC failed to order enough special paper.

• Cost of red tape compliance on the rise

  26 July 2011

  Businesses are spending more time and money on complying with regulations than a year ago, latest research has shown.

• Low interest rates ‘deter young savers’, study suggests

  25 July 2011

  Low interest rates on children’s savings accounts are deterring many parents from investing in their future, a new study suggests.

• Mortgage lending still a concern

  22 July 2011

  Total mortgage lending in June was down 3% on the equivalent month last year, according to the Council of Mortgage Lenders (CML), reflecting the poor state of the economy.

• Bank of England unlikely to raise interest rates in near future

  21 July 2011

  Earlier this month the Bank of England’s Monetary Policy Committee decided to keep interest rates on hold at 0.5%, and minutes released from the meeting suggest that a rise is unlikely in the near term.

• Junior ISA limit set to increase

  20 July 2011

  The Treasury is expected to announce next week that the annual tax-free investment limit for the new Junior Individual Savings Accounts (JISA) will be £3,600, instead of the originally announced cap of £3,000, according to The Telegraph.

• Government reaffirms intention to reform business rates system

  19 July 2011

  Following a six-month review into council finance, Communities Secretary Eric Pickles has reaffirmed the Government’s intention to overhaul the way councils are allocated income from business rates.

• OFT investigates websites reselling government services

  18 July 2011

  The Office of Fair Trading (OFT) is to investigate the growing number of websites that try to sell government services that are normally very low cost or free of charge.

• Call for fast-track planning applications for small firms

  15 July 2011

  The Government is being urged to fast-track small business planning applications to help firms cut through bureaucracy and drive economic growth.

• Better news for retail

  14 July 2011

  Early summer sales have meant that the annual rate of decline of retail sales has slowed, according to figures from the British Retail Consortium.

• Inflation shows surprise dip in June

  13 July 2011

  New data from the Office of National Statistics (ONS) reveals an unexpected drop in the rate of inflation in June.

• Rise in SME loan approvals but ‘small firms still struggling’

  12 July 2011

  A significant number of SMEs have successfully secured bank credit in the last 12 months, according to an independent survey conducted by the British Bankers’ Association (BBA) Taskforce.

• Business voices concerns over pace of economic growth

  11 July 2011

  The Government is being urged to take action on the economy amid fears that the pace of economic growth is faltering.

• Government to encourage investment in small firms

  08 July 2011

  The Government has launched a consultation on plans to boost investment in small businesses through reform of the Enterprise Investment Scheme (EIS) and Venture Capital Trusts (VCTs).

• VAT rule-breakers given final chance to come forward

  07 July 2011

  HMRC has launched a new campaign to tackle businesses trading above the VAT threshold who have not registered for VAT.

• Pay gap between private and public sector widens

  06 July 2011

  The average pay gap between private and public sector workers has widened by 47% in the last three years, latest figures have shown.

• UK employment laws ‘deter sole traders from hiring’

  05 July 2011

  UK employment regulations deter many sole traders from recruiting their first employee, a new survey has found.

• New business mentoring scheme unveiled

  04 July 2011

  Small and medium-sized enterprises (SMEs) will be offered more support on key business issues under a new scheme being launched by the banks.

• Plumbers’ tax campaign prompts mixed response

  01 July 2011

  A campaign to recoup unpaid tax from tradespeople has received a mixed response, after HMRC gathered £328,756 from voluntary disclosures.

• Cheque guarantee scheme comes to an end

  30 June 2011

  Today marks the final day for the cheque guarantee card following a decision by the UK Payments Council to withdraw the scheme.

• HMRC admits millions have not paid correct amount of tax

  29 June 2011

  HM Revenue & Customs (HMRC) has said that up to 4.7 million taxpayers will be sent letters later this year telling them they paid either too much or too little income tax in 2010/11.

• NI number cards to be withdrawn from July

  28 June 2011

  From next month HMRC will no longer send out National Insurance number cards, it has confirmed.

• Online shoppers to gain greater protection under EU law

  27 June 2011

  Consumers are to gain greater protection when purchasing goods on the internet after new measures were approved by the EU.

• FSB hails rise in apprenticeships

  24 June 2011

  The Federation of Small Businesses (FSB) has welcomed news of a large increase in the number of apprenticeships in UK businesses, particularly in sectors including advanced manufacturing and IT.

• Mortgage lenders criticised over standard variable rates

  23 June 2011

  Banks and building societies have been accused of exploiting homeowners on standard variable rate mortgages by Which?, the consumer interest group.

• Government urged to support simpler EU contract law

  22 June 2011

  The Government is being urged to support plans to simplify European contract law for small businesses.

• Government to proceed with pension age reform

  21 June 2011

  The Government is to proceed with its plans to raise the state pension age for women from 60 to 65, despite cross-party opposition on the matter.

• ‘Limitless’ domain suffixes to be made available

  20 June 2011

  From next year, internet address names will be able to end with almost any word and be in any language, after the global internet body Icann voted to dramatically increase the number of possible domain endings.

• HMRC warns of tax credit email scams

  17 June 2011

  HMRC has warned of a surge in the number of ‘phishing’ e-mails from fraudsters, ahead of the 31 July deadline for people to submit their tax credit renewal forms.

• Bank risk ‘watchdog’ FPC holds inaugural meeting

  16 June 2011

  The Bank of England’s new Financial Policy Committee (FPC) – the new body tasked with monitoring whether banks and other financial institutions are taking unreasonable risks – will hold its first quarterly meeting today.

• HMRC ‘facing tax debt after businesses defer £1bn in tax payments’

  15 June 2011

  Experts have raised fresh concerns over the Government’s Time to Pay scheme after it emerged that HMRC could be left with up to £650 million in tax debts.

• HMRC to target e-traders in new tax campaign

  14 June 2011

  HM Revenue and Customs (HMRC) is to launch a series of new campaigns to tackle tax avoidance, it has announced.

• Government launches inheritance tax consultation

  13 June 2011

  The Government has launched a consultation on proposals to lower the rate of inheritance tax (IHT) to incentivise charitable giving.

• INHERITANCE TAX VALUATIONS TARGETED BY HMRC

  10 June 2011

  Evidence exists that HM Revenue & Customs launched nearly 10,000 enquiries into valuations made last year for Inheritance Tax purposes, targeting estates and beneficiaries.

• New website to protect online shoppers from rogue retailers

  10 June 2011

  A new website has been launched to help consumers avoid purchasing counterfeit goods online.

• Banks and businesses ‘must unite to stimulate economic growth’

  09 June 2011

  Banks and businesses ‘must unite to stimulate economic growth’

• Money laundering changes ‘to reduce burden on business’

  08 June 2011

  The Treasury has published its recommendations for improving the Money Laundering Regulations and reducing the burden on British businesses.

• Cutting NICs ‘would boost small business employment’

  07 June 2011

  Reducing national insurance contributions (NICs) would encourage small firms to take on more staff, a leading business group has said.

• Small firms will drive economic revival, study predicts

  06 June 2011

  Small firms will be instrumental in shaping the landscape of future business in Britain and rebalancing the economy, a new report suggests.

• Business Records Check initiative

  03 June 2011

  HM Revenue and Customs (HMRC) has begun the ‘test and learn’ phase of its Business Records Check (BRC) initiative.

• Simpler accounting rules ‘could benefit 1.5 million small firms’

  03 June 2011

  Up to 1.5 million small UK firms could benefit from proposed changes to the accounting rules after EU ministers reached a new agreement earlier this week.

• New advisory fuel rates are issued

  02 June 2011

  HM Revenue & Customs (HMRC) has published new advisory fuel rates, which apply to all relevant journeys made on or after 1 June 2011.

• Lending under finance guarantee scheme plummets

  01 June 2011

  Lending under the Enterprise Finance Guarantee scheme (EFG) has fallen to a new low, latest figures reveal.

• Warning over red tape challenge response

  31 May 2011

  The Business Secretary Vince Cable has warned that Government plans to reduce red tape for businesses may be compromised amid growing concern from the public.

• UK’s ‘ostrich generation’ is failing to plan for retirement

  27 May 2011

  A new report suggests that only 39% of Britons have a financial plan to save for their retirement, even though a majority expect work pensions to become less generous.

• OECD calls for UK interest rate rise

  26 May 2011

  The Organisation for Economic Co-operation and Development (OECD) – the association of 34 developed countries that sponsors economic reform – has said that the Bank of England should start raising interest rates order to combat inflation.

• Small loan interest rates reach 10-year high

  25 May 2011

  Despite record low interest rates, the rates charged on small loans have reached their highest level for more than a decade, according to financial information group Moneyfacts.co.uk.

• Minister warns employers on pension transfer incentives

  24 May 2011

  Pensions Minister Steve Webb has expressed concern at an increasing trend for employees being offered inducements to give up valuable pension rights.

• Banks expected to miss targets for business loans

  23 May 2011

  The Bank of England will today publish the latest figures for Project Merlin – the agreement which set business loan targets for the major banks – and they are expected to show that the banks are falling short of expectations.

• Business Growth Fund ‘unlikely to help small firms’

  20 May 2011

  The majority of small firms seeking affordable finance will miss out on a new £2.5 billion funding scheme, the Forum of Private Business (FPB) has warned.

• Review to examine small business tax administration

  19 May 2011

  The Office of Tax Simplification (OTS) is to carry out a review of how bureaucracy in the tax system is hindering small businesses.

• Government launches review into future of British High Street

  18 May 2011

  The Government has launched an independent review aimed at halting the ‘decline of the British High Street’.

• Government consults on ‘radical reform’ of workplace entitlements

  17 May 2011

  The Government has launched a consultation on plans to introduce a new system of parental leave and extend flexible working rights from 2015.

• Consumers welcome the return of inflation-linked bonds

  16 May 2011

  National Savings & Investments (NS&I) has reintroduced one of its most popular products – tax-free, inflation-proof savings bonds.

• Fit notes failing to cut workplace absence, says CBI

  13 May 2011

  Workplace absence cost the UK economy around £17 billion last year, despite the introduction of the acclaimed new ‘fit note’ system.

• Government review to focus on redundancy reform

  12 May 2011

  The rules on redundancy and the compensation limits for workplace discrimination are to be reviewed as part of Government plans to simplify employment law.

• Figures reveal strongest ISA season in nine years

  11 May 2011

  The 2010/11 ISA season was the strongest in nine years, with net sales of almost £1 billion, latest figures reveal.

• Employers reminded of annual return deadline

  10 May 2011

  Employers are being urged to file their annual return (P35 and P14s) by the 19 May deadline or risk incurring a penalty.

• Charities issue warning over cheque abolition

  09 May 2011

  Plans to phase out cheques could lead to a ‘devastating’ decline in charitable donations, a fundraising body has warned.

• Entrepreneurs advised to explore alternative funding options

  06 May 2011

  Smaller entrepreneurs are being advised to explore the alternative funding options when setting up or growing a business.

• Business warns against interest rate rise

  05 May 2011

  The Bank of England has been urged to keep interest rates on hold ahead of today’s decision by the Monetary Policy Committee (MPC).

• Smaller manufacturers see fastest rate of growth in 16 years

  04 May 2011

  Domestic and export orders amongst the UK’s small and medium-sized manufacturers have grown at their fastest rate in 16 years, new figures suggest.

• SMEs urged to prepare for pension changes

  03 May 2011

  Small and medium-sized enterprises (SMEs) are being urged to prepare for the forthcoming changes to the pension regime after new research found that almost a half do not have a pension scheme in place.

• Business reacts to UK economic growth figures

  28 April 2011

  Business groups have given their reactions to the latest economic figures, with the Forum of Private Business (FPB) calling for a ‘two-pronged’ approach to boost economic growth.

• HMRC targets tradespeople in new tax amnesty

  27 April 2011

  HM Revenue and Customs (HMRC) is writing to around 50,000 tradespeople as part of a new campaign to target tax evaders.

• ISAs ‘failing to encourage savers’, says think-tank

  26 April 2011

  Individual Savings Accounts (ISAs) should be scrapped in favour of a new ‘Lifetime Bonus Savings Account’, according to a leading think-tank.

• Treasury rules out early access to pensions

  21 April 2011

  The Government has ruled out plans to give people early access to their company pension, arguing that it would be unlikely to encourage saving.

• HMRC begins first phase of Business Records Checks

  20 April 2011

  Over 1,000 small and medium-sized enterprises (SMEs) will be targeted in HMRC’s first round of Business Records Checks (BRC).

• Government urged to remove ‘stumbling blocks’ to investment

  19 April 2011

  Industry leaders have called on the Government to remove the ‘stumbling blocks’ to investment and make the UK a more attractive place to do business.

• Watchdog warns of ‘crippling’ energy bills for small businesses

  18 April 2011

  Thousands of small businesses have been presented with unexpected and costly energy bills after they were undercharged by their supplier, a consumer watchdog has warned.

• Employment tribunal system ‘requires major overhaul’

  15 April 2011

  The employment tribunal system requires a ‘major overhaul’ if it is to meet the needs of businesses and individuals, a leading business group has said.

• MPs react to tax simplification measures

  14 April 2011

  A group of MPs has welcomed plans to reduce the complexity of the UK tax system, but warns that much more work needs to be done.

• Savers still under pressure despite fall in inflation, experts warn

  13 April 2011

  The surprise fall in the rate of inflation will do little to counter the effects of the cost of living on savers, some experts have warned.

• £450m Regional Growth Fund boost for business

  12 April 2011

  Selected businesses will receive a share of £450 million worth of investment as part of the Regional Growth Fund scheme, the Government has announced.

• Late tax return fines to rise sharply

  11 April 2011

  People who submit their tax return after the 31 January deadline will face significantly higher penalties, HMRC has announced.

• National Minimum Wage to rise to £6.08 from October

  08 April 2011

  The main adult rate of the National Minimum Wage (NMW) will rise by 15p – or 2.5% – to reach £6.08 later this year, the Government has announced.

• Cameron launches assault on red tape

  07 April 2011

  Businesses, individuals and community organisations have been given a welcome boost after the Prime Minister David Cameron vowed to ‘rip up’ 21,000 rules and regulations.

• New financial year sees raft of tax and benefit changes

  06 April 2011

  As a raft of changes to the tax and benefits system comes into force, many experts are warning that families and middle income earners will feel the pinch.

• Plans for single flat-rate state pension are published

  05 April 2011

  A new flat-rate state pension may be introduced as part of radical plans by the Government to simplify the current system.

• New paternity leave rules come into effect

  04 April 2011

  New fathers may be able to take up to six months’ leave during their baby’s first year after changes to the paternity leave regulations came into effect.

• Junior ISA details are revealed

  01 April 2011

  A new Junior Individual Savings Account (ISA) will be available from 1 November, the Government has announced.

• Government criticised for ‘no win no fee’ attack

  31 March 2011

  The Government’s stated intention to crack down on the ‘no win no fee’ culture in personal injury claims has been criticised for potentially ‘denying justice’ to claimants.

• HMRC issues final reminder for offshore tax evaders

  30 March 2011

  HM Revenue and Customs (HMRC) has issued a final reminder alerting individuals to the forthcoming changes to the penalty regime for offshore non-compliance.

• Pensioners warned over HMRC error

  29 March 2011

  Thousands of pensioners are due to receive an unexpected tax bill after HM Revenue and Customs (HMRC) made an error when calculating their tax code.

• Cameron to launch StartUp Britain scheme for entrepreneurs

  28 March 2011

  A new scheme aimed at encouraging would-be entrepreneurs to start up their own business will be unveiled by the Prime Minister later today.

• Savers ‘overlooked by Budget’

  25 March 2011

  Saving groups have expressed their disappointment following the Chancellor’s Budget on Wednesday.

• Gift Aid reforms ‘to benefit charities’

  24 March 2011

  New measures to encourage charitable giving have been outlined by the Chancellor, George Osborne.

• 2011 Budget: the business reaction

  24 March 2011

  Business groups have given their reactions to the Chancellor’s 2011 Budget Statement.

• Budget 2011: Corporation tax to be cut by 2% from April

  24 March 2011

  The main rate of corporation tax will fall by 2% from April before reaching 23% by 2014, the Chancellor has announced.

• Chancellor presents ‘a Budget for growth’

  24 March 2011

  Chancellor George Osborne heralded his second Budget as one ‘for enduring growth and jobs’. Despite downgrading the economic growth forecast for 2011 from 2.1% to 1.7%, the Chancellor insisted that the Government’s fiscal plans were on course.

• Osborne to raise income tax threshold in ‘pro-growth Budget’

  23 March 2011

  The personal income tax allowance will rise by £600 from next April, the Chancellor will announce in today’s Budget.

• Chancellor tipped to unveil plans for NI and income tax merger

  22 March 2011

  Plans to merge national insurance (NI) and income tax could be unveiled in tomorrow’s Budget, it has been reported.

• Health and safety regulations ‘to be relaxed’

  21 March 2011

  The Government will today outline plans to relax health and safety regulations to help reduce the ‘red tape burden’ on UK businesses and encourage economic growth.

• Small firms to be given ‘three-year exemption from new laws’

  18 March 2011

  Small firms with fewer than 10 staff will be given a three-year moratorium on new employment regulations under plans to be unveiled by the Government.

• Fuel duty rise would ‘stifle economic growth’, says FSB

  17 March 2011

  The Federation of Small Businesses (FSB) has urged the Government to reverse next month’s increase in fuel duty amid fears that it will stifle economic growth.

• Middle income families ‘will struggle to pay debts,’ warns CCCS

  16 March 2011

  Tax and benefit changes, coupled with job losses and rising interest rates, could leave many middle income families struggling to repay their debts, a charity has warned.

• Government ‘considering maternity leave exemptions for small firms’

  15 March 2011

  Small businesses could benefit from changes to the maternity and paternity rules as part of a major ‘deregulation drive’ by the Government, according to recent reports.

• Treasury ‘missing out on £16bn in unpaid tax’

  14 March 2011

  HM Revenue and Customs (HMRC) and Companies House have failed to collect around £16 billion in taxes after thousands of firms ‘disappeared’ from their radar, a new report has claimed.

• Small business taxation needs ‘major structural change’

  11 March 2011

  The Office of Tax Simplification (OTS) has called for ‘major structural change’ to small business taxation following a review into the future of the tax and IR35 system.

• Report calls for public pensions shake-up

  10 March 2011

  Those in the public sector should work for longer and pay more for their pension as part of a major overhaul of the current system, a new report has stated.

• Companies reminded of corporation tax changes

  09 March 2011

  UK companies are being alerted to the forthcoming changes to corporation tax filing and payment.

• New ‘enterprise zones’ to ‘boost UK economy’

  08 March 2011

  New ‘enterprise zones’ are to be set up throughout Britain to help boost economic growth, the Chancellor George Osborne has announced.

• Cameron pledges to fight ‘enemies of enterprise’

  07 March 2011

  The Prime Minister David Cameron has pledged to remove the ‘barriers to growth’ and fight the ‘enemies of enterprise’ ahead of the upcoming Budget.

• OTS publishes final recommendations on UK tax reliefs

  04 March 2011

  Tax-free luncheon vouchers and relief on late night taxis are just some of the allowances that may be culled following a report by the Office of Tax Simplification (OTS).

• Increasing number of pensioners in work, says ONS

  03 March 2011

  Pensioners are making up an increasing proportion of the UK working population, new figures from the Office for National Statistics (ONS) have revealed.

• New fuel rates published as petrol prices climb to record high

  02 March 2011

  HM Revenue and Customs (HMRC) has issued new fuel advisory rates, which apply to all relevant journeys made on or after 1 March 2011.

• Business voices concerns over proposed HMRC spot checks

  01 March 2011

  The Federation of Small Businesses (FSB) has warned that proposed spot checks on company records could be used purely as a ‘revenue raising exercise’ by HMRC.

• Disappointing GDP figures highlight ‘need for growth Budget’

  28 February 2011

  Business groups have called for the upcoming Budget to focus on growth following the release of worse than expected GDP figures.

  The British Chambers of Commerce (BCC) has urged the Government to take ‘pro-growth steps’ and deliver a Budget which ‘boosts business confidence’.

• ISA savers ‘missing out on £1,300 in interest’

  25 February 2011

  Savers who leave their money in poorly paying ISAs could be losing out on up to £1,300 a year in interest, new research has found.

• Corporation tax rates may need to be reduced further, warns CBI

  24 February 2011

  The Confederation of British Industry (CBI) has applauded plans to phase in a reduction in corporation tax, but warns that rates may still need to be lowered further.

• HMRC announces new plan to target tax evaders

  23 February 2011

  People who persistently evade tax will have their tax affairs scrutinised more closely following the launch of a new scheme by HM Revenue and Customs (HMRC).

• Small businesses call for internship programme to be extended

  22 February 2011

  The Government is being urged to extend its Graduate Internship Scheme amid rising concerns over youth unemployment.

• Business welcomes sickness absence review

  21 February 2011

  Business and employer groups have welcomed the launch of a Government review aimed at reducing the cost of sickness absence in the UK.

• Time to train regulations delayed for SMEs

  18 February 2011

  The Government has postponed its plans to extend the ‘time to train’ regulations to small and medium-sized enterprises (SMEs) following criticism from business groups.

• Call to extend NICs holiday to existing businesses

  17 February 2011

  The Regional Employer National Insurance Contributions (NICs) holiday should be extended to help curb rising unemployment, a leading business group has said.

• Warning over cost of employment law changes

  16 February 2011

  New employment legislation set to come into force later this year will cost businesses £22.87bn, the British Chambers of Commerce (BCC) has warned.

• Study finds nearly half of pensioners plan to continue working

  16 February 2011

  Nearly half of pensioners due to retire this year may be forced to continue working, according to new research

• Small firms to gain improved access to Government contracts

  14 February 2011

  Plans to make it easier for small businesses to compete for public sector contracts have been outlined by the Prime Minister David Cameron.

• Business reacts to MPC’s interest rate decision

  11 February 2011

  Business groups have largely welcomed the decision by the Monetary Policy Committee (MPC) to hold interest rates at a record low of 0.5%.

• New measures to boost small business exports

  10 February 2011

  Plans to encourage exporting amongst smaller companies have been outlined by the Business Secretary, Vince Cable.

• HMRC issues fresh warning over fraudulent emails

  09 February 2011

  Taxpayers are being urged to remain vigilant after HM Revenue and Customs (HMRC) reported a surge in the number of phishing emails being sent in the wake of the Self Assessment deadline.

• Government urged to take action on apprenticeships

  08 February 2011

  As National Apprenticeship Week gets underway, the Federation of Small Businesses (FSB) is calling on the Government to ‘remove the barriers to employment’.

• New online Budget portal is launched

  07 February 2011

  A new online portal which allows people to submit their ideas for the 2011 Budget has been launched by the Chancellor George Osborne.

• Record number of tax returns filed online

  04 February 2011

  A record number of people filed their self-assessment tax return online this year, HM Revenue and Customs (HMRC) has revealed.

• Call to delay compulsory use of new accounts software

  03 February 2011

  Some of the UK’s main accountancy bodies have expressed ‘deep concerns’ over plans to force companies to submit their accounts using the new inline Extensible Business Reporting Language (iXBRL) format from 1 April.

• New penalties for offshore tax evasion

  02 February 2011

  Changes to the penalty regime for tackling offshore tax evasion are set to come into force later this year, HM Revenue and Customs (HMRC) has confirmed.

• Rise in the number of tax deferral applications refused

  01 February 2011

  HM Revenue and Customs (HMRC) doubled the number of tax deferral applications that it rejected last year, new data has shown.

• Extra 750,000 people to pay 40% tax from April

  31 January 2011

  Three quarters of a million people will start paying income tax at the higher rate when changes to the tax thresholds come into effect in April, a leading think-tank suggests.

• Government unveils employment tribunal reforms

  28 January 2011

  New plans to reform the system for resolving workplace disputes have been unveiled by the Government.

• First round of bidding for Regional Growth Fund comes to an end

  27 January 2011

  Almost 450 bids were submitted during the first round of the Regional Growth Fund, the Department for Business, Innovation and Skills has revealed.

• Shrinking economy prompts fresh warnings over ‘double dip threat’

  26 January 2011

  The UK economy shrank by 0.5% in the last three months of 2010, according to new figures from the Office of National Statistics (ONS).

• Coalition ‘lacks vision on economic growth’, says CBI leader

  25 January 2011

  The leader of one of Britain’s biggest business groups has accused the Coalition Government of ‘lacking vision’ on economic growth and taking initiatives for ‘political reasons’.

• Small firms ‘under pressure’ as fuel costs soar

  24 January 2011

  The increasing cost of fuel may lead to many small firms imposing pay freezes and cutting jobs, a leading business group has warned.

• Warning over empty property rate charges

  21 January 2011

  A leading business group is warning that landlords could be in for a shock when changes to the empty property rates exemption take effect later this year.

• Employers to be ‘named and shamed’ for NMW breaches

  20 January 2011

  Employers who pay their staff less than the National Minimum Wage (NMW) risk being ‘named and shamed’, following the introduction of a new scheme earlier this month.

• Inflation climbs to 3.7% as commodity prices soar

  19 January 2011

  UK inflation climbed to 3.7% in December, adding further pressure on the Bank of England to raise interest rates.

• Firms willing to pay more for simpler tax system, says FPB

  18 January 2011

  Small businesses would be prepared to pay more tax if it led to simpler laws and a reduction in avoidance amongst big companies, according to a new survey.

• Government to unveil shared maternity leave plan

  17 January 2011

  Plans to allow workers to share maternity leave will be outlined by the Deputy Prime Minister later today.

• Government to confirm withdrawal of Default Retirement Age

  13 January 2011

  The Default Retirement Age (DRA) will be withdrawn later this year, the Government will confirm later today.

• Call to introduce wage for internships

  12 January 2011

  The Government is being urged to consider introducing a £2.50-an-hour wage for internships lasting three months or longer.

• Business leaders pledge to create more jobs

  11 January 2011

  Prime Minister David Cameron and bosses from some of the UK’s major employers have pledged to create thousands of new jobs in a bid to rebalance Britain’s economy.

• Treasury considering ‘fuel stabiliser’ as business concerns grow

  10 January 2011

  David Cameron has confirmed that the Treasury will investigate the possibility of a ‘fair fuel stabiliser’ amid mounting pressure from the business community.

• HMRC issues alert over corporation tax changes

  07 January 2011

  HM Revenue and Customs (HMRC) has issued a reminder alerting businesses to the forthcoming changes to corporation tax.

• Tax freedom day ‘will be on 30 May 2011’

  06 January 2011

  Britons will need to work for 149 days to pay their taxes this year, three days longer than in 2010, new research suggests.

• Cost deters small businesses from offering a pension, report finds

  05 January 2011

  Two-thirds of small businesses do not currently offer a pension scheme to their staff, according to a new report from the Association of Consulting Actuaries (ACA).

• Warning over retail sales as VAT rises to 20%

  04 January 2011

  The standard rate of Value Added Tax (VAT) has risen from 17.5% to 20%, prompting concerns over a possible decline in retail sales over the coming weeks.

• Businesses urged to prepare for VAT rise

  23 December 2010

  Businesses are being urged to prepare for January’s increase in Value Added Tax (VAT) or risk encountering problems when the rate changes.

• Call for more business support in the New Year

  23 December 2010

  The Federation of Small Businesses (FSB) is calling on the Government to give small firms some ‘breathing space’ during the early part of 2011.

• Firms advised to tighten security ahead of Christmas holidays

  23 December 2010

  Businesses are being urged to tighten their security measures after a new report revealed that many firms leave confidential documents on display during the festive season.

• Tax return deadline looming

  23 December 2010

  Taxpayers should remember that their 2010 tax return must be filed online by 31 January 2011.

• Businesses ‘need more clarity’ over migrant worker cap

  23 December 2010

  A leading business group is calling on the Government to provide more guidance on the non-EU migrant workers cap, following a High Court ruling on the issue last week.

• Too little progress made on rent reform, claims BRC

  22 December 2010

  The British Retail Consortium (BRC) is calling for landlords to move away from the ‘archaic’ practice of quarterly upfront payments in favour of monthly instalments.

• Red tape ‘hindering small business exports’

  21 December 2010

  Red tape is one of the main barriers that small businesses face when exporting goods, a new report suggests.

• Rising inflation will lead to higher interest rates, warns CBI

  20 December 2010

  The Confederation of British Industry (CBI) is warning that rising inflation will lead to higher interest rates in the spring.

• VAT rise is ‘not temporary’, says Osborne

  17 December 2010

  Chancellor George Osborne has signalled that the new 20% rate of Value Added Tax (VAT), which comes into effect on 4 January, will be made permanent.

• New measures to ‘ensure EU legislation will not harm UK firms’

  16 December 2010

  New measures to prevent British firms being unfairly restricted by European legislation have been announced by the Business Secretary, Vince Cable.

• Empty rates relief to be cut for small properties

  15 December 2010

  The Government is considering cutting empty rates relief for small business properties, according to recent reports.

• OTS publishes recommendations for reforming UK tax reliefs

  14 December 2010

  The Office of Tax Simplification (OTS) has published its provisional recommendations for reforming a selection of the UK’s tax reliefs.

• Call to postpone withdrawal of default retirement age

  13 December 2010

  The Government is being urged to postpone its plans to scrap the default retirement age (DRA) amid business concerns over the changes.

• Raising VAT threshold would ‘create up to 35,000 extra jobs’

  10 December 2010

  Increasing the threshold at which small firms begin to pay Value Added Tax (VAT) could create an additional 35,000 jobs, new research suggests.

• Treasury to give retirees more flexibility over pension

  09 December 2010

  Retirees will no longer be required to purchase an annuity from next April under new plans set to be unveiled by the Government.

• New paper-based payment system being considered

  08 December 2010

  Cheques will not be phased out until an acceptable ‘paper-based’ alternative has been found, the Payments Council has said.

• Business criticises tax avoidance changes

  07 December 2010

  A leading business group has criticised the Government’s plans to introduce a General Anti Avoidance Rule (GAAR), arguing that it ‘would not be in the interest of the Government, taxpayers, or UK competitiveness’.

• VAT rise will cost average household £225, report finds

  06 December 2010

  The rise in the standard rate of Value Added Tax (VAT) will cost the average household an estimated £225, new research has suggested.

• Government relaxes plans on gender pay disclosure

  03 December 2010

  Businesses will not be obliged to disclose how much they pay men and women after the Coalition Government relaxed plans to impose gender pay audits.

• Cold snap could ‘cost UK economy £1.2bn’ a day

  02 December 2010

  As the cold snap continues, some experts are claiming that the severe weather could cost the UK economy up to £1.2 billion a day.

• New advisory fuel rates published

  01 December 2010

  HM Revenue & Customs (HMRC) has published new advisory fuel rates, which apply to all relevant journeys made on or after 1 December 2010.

• Autumn Statement: Britain ‘on the path to economic recovery’

  30 November 2010

  Presenting his first Autumn Statement as Chancellor of the Exchequer, Chancellor George Osborne has asserted that Britain is ‘on track’ to recover from the deepest recession of post-war times.

• Business group issues warning over higher car parking charges

  29 November 2010

  A leading business group is warning against sharp increases in car parking charges, claiming that such hikes could ‘kill off’ high street trade.

• Retailers poised for ‘bumper festive period’

  26 November 2010

  Retailers are reporting stronger than expected sales in November, leading some economists to suggest that traders will enjoy bumper sales over the festive period.

• FSB welcomes changes to small business rates

  25 November 2010

  Plans to automatically apply the small business rate could lead to lower bills for up to half a million firms, experts have said.

• HMRC issues profit reminder for the self-employed

  24 November 2010

  Self-employed tax credit claimants are being urged to disclose their total profits for the 2009/10 tax year ‘as soon as possible’.

• Shoppers reminded of consumer rights over festive period

  23 November 2010

  With online Christmas shopping expected to reach its peak this week, the Government is alerting people to their consumer rights.

• Immigration cap will be ‘business friendly’, says Cameron

  22 November 2010

  The proposed cap on immigration will not harm British businesses, the Prime Minister David Cameron has said.

• Government borrows record £10.3bn in October

  19 November 2010

  The rise in October borrowing came despite signs that the improving economy was boosting the tax take, with corporation tax revenues up 29% and VAT receipts also higher.

• Fuel prices drive rise in inflation

  17 November 2010

  New figures show that the CPI rate of inflation in the UK rose to 3.2% in October, from 3.1% in September.

• New CBI leader named

  16 November 2010

  John Cridland has been named as the new director general of the CBI.

• Government in talks to impose tax on new offshore accounts

  15 November 2010

  The UK Government is entering into talks with three tax havens in an attempt to claw back billions of pounds in undeclared funds from British citizens.

• Call for freeze on new employment law as publicity budget cut

  12 November 2010

  A leading business group has called for a freeze on new employment law after it emerged that the Government plans to slash the amount it spends on publicising regulatory changes.

• Warning over cost of pension changes

  11 November 2010

  The cost of automatically enrolling employees into a pension scheme could prove to be ‘extortionate’ for many small firms, a leading business group has warned.

• IFS calls for overhaul of UK tax

  10 November 2010

  The Institute for Fiscal Studies (IFS) has called for an overhaul of the UK tax system, including significant changes to Value Added Tax (VAT).

• Review identifies over 1,000 tax reliefs

  09 November 2010

  Experts have identified more than 1,000 reliefs in the UK’s tax system, prompting warnings that the Chancellor may scrap ‘dozens or even hundreds’ of tax breaks.

• HMRC scales back helpline service

  08 November 2010

  HM Revenue and Customs (HMRC) is scaling back its helpline service, following a ‘realignment’ of its contact centre opening hours.

• Changes to the state pension age are confirmed

  05 November 2010

  The Government has published details of its plans to increase the state pension age (SPA) to 66 by 2020.

• 2011 Budget date announced

  04 November 2010

  The 2011 Budget will take place on Wednesday 23 March, the Chancellor has announced.

• Small firms striving to ‘improve green credentials’

  04 November 2010

  An increasing number of firms are striving to improve their green credentials despite economic pressures, new research has shown.

• Stocks and shares ‘outperforming cash ISAs’

  03 November 2010

  Savings in stocks and shares ISAs (Individual Savings Accounts) are outperforming those in cash ISAs, according to figures from HM Revenue and Customs (HMRC).

• Savers’ compensation limit set to rise

  03 November 2010

  The deposit protection limit for savings is set to increase from 1 January 2011, the Financial Services Compensation Scheme has announced.

• Spending cuts and VAT rise ‘could lead to 1.6m job losses’

  03 November 2010

  Up to 1.6 million jobs could be lost as a result of the Government’s spending cuts and the increase in VAT, a leading employment body has warned.

• Small business support package published

  02 November 2010

  David Cameron’s new Enterprise Adviser, Lord Young, is to write a ‘brutally honest’ report examining how Government departments interact with and affect small businesses.

• Government unveils new plans to boost local economic growth

  01 November 2010

  Plans to create 24 local enterprise partnerships (LEPs) have been given the go-ahead by the Government.

• Small firms 'reap benefits of £100bn internet economy'

  29 October 2010

  Small and medium-sized businesses are reaping the benefits of the web, with their savvy use of the internet leading to an increase in sales and profitability.

• Business criticises plans to include micro firms in pension reforms

  28 October 2010

  Business groups have expressed their ‘disappointment’ over the Government’s decision to include micro firms in its overhaul of private sector pensions.

• Government unveils 'Junior ISA' plan

  27 October 2010

  Plans to create a new tax-free savings account to replace the Child Trust Fund (CTF), have been unveiled by the Government.

• CBI claims private sector can replace lost public sector jobs

  27 October 2010

  CBI director general Richard Lambert has said that private industry can create new jobs to replace those lost in the public sector cutbacks announced in the Government’s Comprehensive Spending Review.

• ISA investment limit 'to increase by £470'

  20 October 2010

  The amount that can be invested in an Individual Savings Account (ISA) is expected to rise by £470 next year, experts have said.

• Cap on pensions tax relief to be reduced

  20 October 2010

  The annual tax-free amount that individuals can invest into a pension will be significantly reduced from next April, the Government has announced.

• Osborne confirms date for autumn statement

  18 October 2010

  The Coalition Government is abolishing the Pre-Budget Report (PBR) in favour of a more concise statement on the economy, the Chancellor has announced.

• State pension age to rise to 66 by 2020

  16 October 2010

  The state pension age will now rise to 66 by 2020 for both men and women, six years ahead of the plan put in place by the previous Labour government.

• Support firms through national mentoring scheme, says FSB

  13 October 2010

  A new national mentoring service should be set up to support UK enterprises, a leading business group has said.

• Health and safety review 'should focus on tackling red tape'

  13 October 2010

  A leading business group is calling for a forthcoming review to focus on removing the ‘excessive bureaucracy’ surrounding health and safety legislation.

• Consumer champion 'could be scrapped'

  13 October 2010

  The watchdog Consumer Focus could be axed as part of the Government’s drive to abolish the UK’s quangos, according to recent reports.

• Small firms urged to claim backdated rate relief

  23 September 2010

  A leading business group is calling on small firms to claim their share of £200 million in backdated rate relief.