Business news
New VAT penalty regime starts from 1 January
Default surcharge to be replaced by a fixed rate, points based system.Government sets out overhaul of banking rules
The package of over 30 reforms will “cut red tape” and “turbocharge growth”.Registration criteria updated for MTD ITSA
Both individual taxpayers and agents will be affected.SMEs owed £23.4bn in late payments
A Government review into outstanding invoices to be launched.One in four of small firms fear closure.
Businesses fear closure if energy relief ends in Spring 2023.Energy price cap removes risk for one in four businesses
Government urged to extend support for businesses.Government launches review into tackling late payments for SMEs
UK businesses are currently owed £23.4bn in outstanding invoices.Government urged to boost economic growth
The CBI says the UK will lose ten years of growth if no action is taken.Inflation and energy prices remain top business concerns
Businesses showing signs of strain towards winter.Black Friday sees upturn in retail sales
Spending data shows a 33% increase in retail footfall.
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Current news
HMRC discontinues tax clearance for MVLs
Clearance service withdrawn with immediate effect.
House prices expected to dip by 1% in 2024
Rightmove advises sellers to be mindful of pricing strategies.
UK economy faces stagnation until 2025
Multiple challenges contributing to subdued growth.