Business News

The government's scheme that enables small businesses to recoup statutory sick pay costs caused by the coronavirus (COVID-19) will end at the end of September.

Adopting a tax year which is either aligned with the calendar year or with a calendar month-end would have clear benefits, according to a review from the Office of Tax Simplification (OTS).

A survey carried out by the Federation of Small Businesses (FSB) has suggested that the UK unemployment rate could rise by 50,000 as a result of the increase in national insurance contributions (NICs) for employers, sole traders and employees.

Inflation rose to 3.2% last month from 2% in July ? its largest ever recorded increase, according to the Office for National Statistics (ONS).

The UK government faces big choices this autumn if it wants to stimulate economic growth, the Confederation of British Industry (CBI) has said.

HMRC is urging young people to check if they have a Child Trust Fund (CTF) account.

At the end of July, 1.6 million people were still on furlough, the lowest level since the start of the pandemic and 340,000 fewer than a month earlier.

HM Treasury has announced that Chancellor Rishi Sunak will deliver the Autumn 2021 Budget on Wednesday 27 October.

Business groups have warned that the government's plan to raise national insurance contributions (NICs) and add a surcharge to dividend income will hamper the economic recovery.

Labour supply problems could last for up to two years and will not be solved by the end of the Coronavirus Job Retention Scheme (CJRS), the Confederation of British Industry (CBI) has warned.

Families may be eligible for Tax-Free Childcare (TFC) to help pay for breakfast clubs and after school clubs as their children go back to school, HMRC has said.

Pushing through proposals to change basis periods ahead of the expansion of Making Tax Digital (MTD) will cause as many problems as it solves, the Institute of Chartered Accountants in England and Wales (ICAEW) has warned.

The Federation of Small Businesses (FSB) has stated that the current business rates system in England serves to 'disincentivise businesses to invest in net zero and employee wellbeing measures'.

British business confidence is at its highest level since April 2017, according to the latest Lloyds Bank Business Barometer.