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Business News
Keep informed regarding the world of business. There’s always something new to learn or a piece of information that could be vital for your business going forward. We keep you as updated as we can, with regular updates regarding tax, legislation, payroll changes, and everything in between. If you feel like we’ve missed something important, then let us know. We’re not too proud to do some research into an area we don’t know about. In fact, we enjoy it.
Late payment interest rate rises to 7%
Interest has doubled since May 2022.HMRC plans to simplify construction industry scheme
The scheme may be causing “unnecessary” administrative burdens.One in five taxpayers will pay higher tax rate
Threshold freezes could see 7.8 million pay 40%.VAT registration helpline set to close
HMRC will prioritise registration applications.Company insolvencies fall in April
Figures remain higher than pre-pandemic levels.Retail sales grow steadily in April
Retailers hope sales will improve over the summer.Economy fell by 0.3% in March
GDP grew slightly in Q1 of 2023.Bank of England raises interest rates to 4.5%
Rate increases for 12th time since December 2021.ICAEW asks HMRC to rethink quarterly reports
The administrative burden dubbed “disproportionate”.Strike action will impact HMRC helplines.
Over 400 HMRC employees will strike from 10 May.
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