Welcome to our monthly newswire designed to keep you informed of the latest business and tax issues. Please contact us if you have any questions. Remember, we're here to help.
HMRC extends deadline for voluntary NICs
HMRC has extended the voluntary national insurance contributions (NICs) deadline until April 2025.
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HMRC closes self assessment helpline for three months
HMRC is planning to close its self assessment tax helpline for three months over the summer to focus call centre resources on dealing with other problem calls.
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MTD expected to cost £1 billion more than originally forecast
A report published by the National Audit Office (NAO) has found that HMRC's Making Tax Digital (MTD) initiative is expected to cost around £1 billion more than was forecast in 2016.
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UK inflation stays at 8.7%
The UK's rate of inflation plateaued at 8.7% in May, data published by the Office for National Statistics (ONS) has shown.
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Bank of England raises UK base interest rate
The Bank of England has raised UK interest rates to a 15-year high of 5% as it continues its battle against inflation.
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More than 200 companies named and shamed for minimum wage breaches
Over 200 employers have been named by the government for failing to pay their lowest paid employees the minimum wage.
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Post-Brexit trade plan must be replaced, says think tank
The Resolution Foundation think tank has called for the government to replace the initial post-Brexit trade plan with a 'far more ambitious' strategy to help protect Britain's manufacturing firms and seek new markets for UK services firms.
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Industrial strategy required to 'focus on innovation', says IoD
The Institute of Directors (IoD) has urged the government to create an industrial strategy to help 'define specific long-term priorities for the UK economy'.
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