MPs are demanding urgent improvements to HMRC’s “unacceptable service standards” after a parliamentary report discovered an “eye-watering” £42 billion is owed to HMRC from unpaid tax.

Soaring inflation remained a key concern for businesses at the end of 2022, according to the latest quarterly economic survey from the British Chambers of Commerce (BCC).

The Government has announced a new energy bills discount scheme (EBDS) for UK businesses, set to replace the current energy bills relief scheme (EBRS) once it ends in March.

Businesses at any stage in their life cycle can benefit heavily from creating and implementing a business plan. Not only is a business plan there to map out your goals and aspirations, but also to identify any financial risks and operational challenges you may encounter.

One in four business leaders (24%) believe the Government’s energy bill relief scheme (EBRS) has removed a “serious risk” to their business, according to a poll by the Institute of Directors (IoD).

Large businesses owe their small suppliers £23.4 billion in late payments, according to the Government, sparking a review by the Department for Business, Energy and Industrial Strategy (BEIS).

Monthly GDP grew by around 0.5% in October 2022, following 0.6% drop in September, according to the Office for National Statistics (ONS).

The Treasury has confirmed that Making Tax Digital for income tax self-assessment (MTD for ITSA) will be delayed a further two years until April 2026.

A number of changes are coming to income tax in April 2023 that will affect taxpayers across the UK Many of these measures were announced by Chancellor of the Exchequer Jeremy Hunt in his Autumn Statement on 17 November.

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The statement, delivered to the House of Commons on 17 November, included several tax threshold freezes and cuts in annual allowances

The majority of working people will begin receiving the 1.25% tax cut in their payslips from November onwards.

HMRC is reminding taxpayers to declare their self-employed income support scheme (SEISS) payments in their self-assessment return for the 2021/22 tax year.

The Bank of England (BoE) decided to increase the base interest rate from 2.25% to 3% last month in a bid to curb inflation.

With the new year just around the corner and tax season fast-approaching, now’s a good time to get a head start on your self-assessment tax return.

With the rising costs of living affecting every aspect of almost everyone’s finances, there’s no time like the present to start considering your retirement plans.

Changes for businesses were also confirmed following Kwarteng’s September mini-budget.

Changes for businesses were also confirmed following Kwarteng’s September mini-budget.

A few changes for individuals had already been confirmed ahead of the Autumn Statement, either as part of Kwarteng’s mini-budget or its aftermath.

Hunt began his statement with a summary of expectations for the economy according to the Office for Budget Responsibility, which is required to publish an economic report at least twice a year.