The world of work is always changing, especially with the ever increasing advancements in technology. Recently, something intriguing is happening: more and more people over the age of 50 are becoming their own bosses. This trend, shown by research from…
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As of April 1st, 2023, significant changes are underway regarding Corporation Tax for businesses operating in the United Kingdom. This alteration will have a shift in tax rates for corporations with annual profits exceeding £50,000. The new tax changes will…
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It’s important for individuals to stay vigilant and cautious regarding emails, texts, and phone calls claiming to be from HMRC (Her Majesty’s Revenue and Customs) or other government agencies. These messages are often part of scams aimed at deceiving people…
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In the race towards the UK’s 2050 net zero target, small businesses find themselves struggling to keep pace with the changing tides of support initiatives. The recent research by the Federation of Small Businesses (FSB) and Warwick Business School paints…
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In recent years, the issue of tax fraud has become an ever-growing concern all around the world. Governments and Tax authorities, such as Her Majesty’s Revenue and Customs (HMRC) in the United Kingdom, have a way to combat this problem….
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The government has recently released a list containing the names of over 200 employers who have been found guilty of not paying their lowest paid employees the minimum wage. This revelation sheds light on the prevalent issue of wage theft…
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A new report released by the Institute for Fiscal Studies (IFS) has revealed a startling projection: by the year 2027, one in every five workers in the United Kingdom will fall into the higher rate tax bracket. The findings have…
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Scammers are becoming more sophisticated with their tactics, and recent data published by UK Finance reveals that the UK is losing millions of pounds to impersonation scams each year. The trade association found that in 2022, £177.6 million was lost…
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HMRC (HM Revenue and Customs) has issued a warning to VAT-registered businesses in the UK to ensure that they file their VAT returns and pay the due amount on time. This is because new penalties have been introduced by HMRC,…
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The new Advisory Fuel Rates (AFRs) published by HMRC are effective as of Wednesday, March 1 and apply to company car drivers who are claiming back fuel costs from their employer. The new AFRs include a 1 pence per mile…
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On December 15, 2022, the Bank of England raised the interest rate (bank rate) from 3.0% to 3.5%. This will have a significant impact on the economy, as it will affect a wide range of interest rates across the country….
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The Institute for Fiscal Studies has warned that household income will see its biggest fall in generations following the autumn declaration. The think tank warned that growth in living standards had been weak since 2008 and was now set to…
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