Tax gap falls to lowest recorded rate
The tax gap fell to an estimated 4.7% for the 2018/19 fiscal year, its lowest recorded rate, according to the latest data from HMRC. The tax gap is the difference…
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13/07/2020
IFS warns taxes will rise as result of coronavirus lockdown
The Institute for Fiscal Studies (IFS) has warned that the government will need to raise taxes in order to pay for the economic support measures announced by Chancellor Rishi Sunak…
10/07/2020
HMRC scraps benefit-in-kind charge on coronavirus tests
The government has scrapped plans to get workers to pay income tax on coronavirus (COVID-19) testing kits purchased by their employer. HMRC issued guidance on 6 July which outlined that…
10/07/2020
More than one million businesses access Bounce Back loans
Over one million UK businesses have now accessed government-backed borrowing through the Bounce Back Loan Scheme (BBLS), according to the latest figures from the Treasury. The BBLS allows small businesses…
09/07/2020
Business groups react to Summer Economic Update
Business groups, including the Confederation of British Industry (CBI), the Federation of Small Businesses (FSB) and the British Chambers of Commerce (BCC) have reacted to Chancellor Rishi Sunak's Summer Economic…
09/07/2020
Chancellor unveils a plan for jobs
On 8 July Chancellor Rishi Sunak unveiled a three-point plan to support jobs as the UK economy begins its recovery from the coronavirus (COVID-19) lockdown. The first phase of the…
09/07/2020
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