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.
Government borrowing falls as Chancellor hints at tax cuts in Spring Budget
Government borrowing fell to £7.8 billion in December 2023 giving Chancellor Jeremy Hunt more scope to make the tax cuts he has hinted at in the Spring Budget.
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Tax cuts may have to be scrapped due to 'economic bind', warns IFS
Tax cut promises may need to be scrapped as a result of the UK being in an 'unfortunate economic and fiscal bind', the Institute for Fiscal Studies (IFS) has warned.
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HMRC sends warning to cryptoasset users
As the use of cryptoassets continues to grow HMRC is warning people to check if they need to complete a self assessment tax return for the 2022/23 tax year to avoid potential penalties.
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Raise VAT threshold to £100,000, says FSB
The government should raise the turnover threshold for VAT from £85,000 to £100,000, according to the Federation of Small Businesses (FSB).
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Clarity on new border checks is vital, says BCC
The government must clarify plans around new customs processes as firms remain in the dark about crucial aspects of their operation, says the British Chambers of Commerce (BCC).
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Artificial Intelligence will affect jobs and worsen inequality, says IMF
Artificial intelligence (AI) will affect almost 40% of all jobs around the world and deepen inequality, the International Monetary Fund (IMF) has warned.
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Over 50s bucking decline in freelance numbers
Tens of thousands more over 50s are now running their own businesses despite an overall decline in self-employment since 2020, according to the Association of Independent Professionals and the Self-Employed (IPSE).
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Only a third of UK adults confident with self assessment
Just 35% of UK adults are confident they could complete the self assessment tax return form correctly, according to research by Standard Life.
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