Business News

Creating an official digital currency in the UK could pose significant risks to banks, a House of Lords committee has warned.

Consumer group Which? has urged taxpayers to avoid using so-called 'refund firms' to claim tax rebates.

The government has launched a consultation on the framework for rolling out the 15% global minimum tax on profits which will be payable by the largest multinationals from 2023.

HMRC has warned that businesses must declare any coronavirus (COVID-19) support grants or payments on their company tax returns and stated that the grants and payments are taxable.

The Treasury's decision to freeze income tax thresholds will drag over one million people into the higher rate tax band over the next four years, according to research commissioned by the Liberal Democrats.

Research published by Nucleus Commercial Finance has revealed that over half of small and medium-sized enterprises (SMEs) in the UK are confused about the government's plans to 'level up' the country.

HMRC's Fraud Investigation Service (FIS) has now recovered more than £1 billion from proceeds of crime and tax offenders.

HMRC is waiving late filing and late payment penalties for self assessment taxpayers for one month.

The British Chambers of Commerce (BCC) has warned that businesses are facing 'unprecedented cost pressures', with inflation predicted to surge.

HMRC has revealed that 2,828 customers filed their self assessment tax return on Christmas Day, compared to 2,700 in 2020.

More than 440,000 small firms could be forced out of business by the late payment crisis, according to the Federation of Small Businesses (FSB).

With 2022 just around the corner, you may wish to consider creating some financial New Year's resolutions to ensure that you remain on course for a successful and profitable year ahead.

The deadline for submitting your 2020/21 self assessment tax return is midnight on 31 January 2022.

With the festive period underway, businesses are advised to be prepared for adverse weather conditions during the winter months.