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Following the Prime Minister's policy speech in Europe in January 2013, the British Chambers of Commerce has conducted a survey to understand the relationship between Britain's businesses and the European Union (EU). Approximately 4,400...
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An online toolkit has been released by Employment Relations Minister Jo Swinson which helps start-up employers to access advice and information when it comes to taking on their first employee. The toolkit is an update to one that was launched last year,...
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The Low Pay Commission's (LPC's) recommendations for adult and youth National Minimum Wage (NMW) rates have now been approved by the Government. This is set to raise the adult rate by 12p, up to £6.31 an hour, whereas the rate for 18 to...
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60% of small firms in the UK suffered financially due to a record-breakingly cold March, the Federation of Small Businesses (FSB) has reported. On average, each business lost £1,580 as a result of the ice and snow which covered the UK last month,...
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HM Revenue & Customs (HMRC) has warned those with offshore assets to disclose their financial details before the necessary information is released by banks in Jersey, Guernsey and the Isle of Man. The announcement comes following agreements between the UK...
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Since Real Time Information (RTI) was implemented on 6 April, some 70,000 PAYE returns have been submitted to HM Revenue & Customs (HMRC). The programme means that employers must report the details of payment to employees on each separate occasion, rather...
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Following disappointing trade figures announced by the Office of National Statistics (ONS), the Confederation of British Industry (CBI) has announced a package to help British firms capitalise on overseas opportunities. As part of the package, the CBI...
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Global trade is expected to expand by 3.3% in 2013, the World Trade Organisation (WTO) suggests. This figure is 1.2 percentage points less than what was previously estimated. The expectations were amended following the expansion of global trade by just 2% in...
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Vince Cable will today (10 April) allocate funds of £300 million to be made available to small and medium-sized enterprises (SMEs) via the government's business bank. The move will allow these businesses to access finance that was previously...
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The Trades Union Congress (TUC) has commented on a report from the Chartered Management Institute, which has claimed that a 15.8% rise in pay was seen by UK chief executives last year, a figure mostly made up by bonus payments. General secretary of the TUC...
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A number of webinars have now been launched by HM Revenue & Customs (HMRC), which will see staff covering different topics to help taxpayers across the country. The webinars will not only give advice on topics such as business record keeping for the...
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One announcement from the Budget will mean that pensioners will be pitted against working-age people for their share of the welfare bill, according to the Social Market Foundation (SMF). The SMF claimed this was "a little-noticed announcement on public...
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The personal tax allowance has been raised to £9,440, following changes put into effect on 6 April, exempting employees with lower yearly income than £9,440 from income tax. Further tax changes include the reduction of the top rate of income tax...
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Changes to the PAYE system introduced on Saturday (6 April) will have a big impact on UK businesses, according to the British Chambers of Commerce (BCC). One of the major changes to the system is the introduction of Real Time Information (RTI) which requires...
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Small and medium-sized employers now have an additional method of reporting end of year expenses and benefits, following the introduction of 'Online end of year Expenses and Benefits forms' from HM Revenue & Customs (HMRC) earlier this month. A...
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A net balance of -5% in the three months ending February 2013 has represented a slight improvement in the Scottish economy, the Royal Bank of Scotland reports. Increased turnover was recorded by 29% of firms, while 34% recorded a decrease. Static turnover was...
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The Bank of England (BoE) has said that the Funding for Lending scheme (FLS) will "be little changed" in the second quarter, despite the scheme so far making little impact on business loans. The BoE announced this in its latest snapshot of lending...
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The EU tax on securities transactions could add billions to the cost of issuing debt in the UK, with companies and government feeling the force of the rise, a City of London Corporation study has reported. Despite the fact that the UK will not impose the...
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The Work and Pensions Committee has welcomed the proposed improvements to retirement income in the UK in a report released today (4 April). However, the committee has said the Government needs to give the public the necessary information about how these will...
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As a number of Government reforms came into force yesterday (1 April) the Confederation of British Industry (CBI) has welcomed the reduction of Corporation Tax to 23%. The organisation has said that the UK system needs to be "internationally...
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The value of shopping centre deals has increased by 194% on figures from the previous year, as reported by property agent Savills. The rise from £488 million to £1.43 billion shows positivity in the retail market, with an increase of investment...
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An increase in revenue by 18% has been seen following tax inspections on a number of construction companies and contractors by HM Revenue & Customs (HMRC). A rise in revenue from £67 million in 2011/12 to £79 million this year was seen, after...
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Companies that become insolvent in order to dodge tax obligations will soon come under five-year scrutiny from HM Revenue & Customs (HMRC). Launched yesterday (27 March), the Managing Serious Defaulters (MSD) scheme is set to closely examine the affairs...
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Measures to help businesses deal with sickness pay unveiled in last week's Budget announcement will provide tax relief to help employees return to the workplace. For expenditure up to £500 in covering support, employers are to receive some tax...
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Scottish devolution could leave a pension gap of £400, Work and Pensions Secretary Iain Duncan Smith has warned. Mr Duncan Smith was speaking in Edinburgh about the bedroom tax and pensions. He told delegates that Scottish independence could lead to...
