Business News

The latest Business and Finance news making the headlines in the UK

Time for taxpayers to get ready for Making Tax Digital for Income Tax

Self-employed taxpayers and landlords should file their 2024/25 tax return early to find out if Making Tax Digital (MTD) will apply to them from next April, says the Low Incomes Tax Reform Group (LITRG).

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SMEs missing out on £2.7 billion in National Insurance savings

Most UK SMEs are not using salary exchange so are missing out on a potential £2.7 billion in employer National Insurance contribution (NIC) savings, according to insurance broker Howden.

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HMRC launches online PAYE service

HMRC has launched a new online PAYE service, which it says will give 35 million workers more control over their tax affairs.

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CGT revenue falls by 18%

Statistics published by HMRC have revealed that Capital Gains Tax (CGT) revenue fell by 18% in the 2023/24 tax year.

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IFS calls for 'decisive action' to future-proof pension system

The Institute for Fiscal Studies (IFS) has called for the government to take 'decisive action' to ensure the pension system is future-proofed for the next generation.

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IHT to be charged on unused pension pots from 2027

The government will charge Inheritance Tax (IHT) on unused pension pots and death benefits from April 2027.

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Government urged to 'harness optimism to grow economy'

The British Chambers of Commerce (BCC) has called on the government to harness retail investor optimism to help grow the UK economy.

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Government publishes Finance Bill supporting documents

The government recently published draft legislation for Finance Bill 2025-26 for consultation.

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Pensioners 'set to be worse off', warns DWP

The Department for Work and Pensions (DWP) has warned that pensioners retiring in 2050 are set to be worse off than those retiring today.

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