Following a consultation on its Product Safety Review, the government has announced new legislation to introduce digital labelling on imports. Digital labelling will allow British businesses to put regulatory and manufacturing information online, rather than printed onto products, when importing … [Read more...]
News for: General Business News
3.8 million Self Assessment returns still to be filed a week before deadline
With just one week to go before the 31st January Self Assessment deadline, HMRC estimates that 3.8 million are risking a £100 penalty if they do not file their tax return in time. HMRC is anticipating more than 12.1 million Self Assessment tax returns to be filed for the 2022-23 tax year, along … [Read more...]
New guidelines announced to support business leaders with cyber resilience
A new draft Code of Practice on cyber security governance has been published to help UK business leaders to bolster their resilience to cyber attacks. Aimed at business directors and senior leaders, the guide aims to ensure businesses treat cyber threats as seriously as they would legal or … [Read more...]
£185 million phase of support to launch to help manufacturers and industrial businesses cut emissions and energy use
A new phase of the Industrial Energy Transformation Fund is to launch to support manufacturers to reduce CO2 emissions and energy consumption. The fund will support businesses with a further £185 million to help companies transform their operations with new, more efficient equipment, or switch to … [Read more...]
44,800 customers opt to spread the cost of Self Assessment tax bills
Nearly 44,800 Self Assessment taxpayers have set up a payment plan with HMRC to settle near £148 million of tax bills ahead of the 31st January deadline. More than 7.7 million Self Assessment customers have already filed their tax return for the 2022 to 2023 tax year, but HM Revenue and Customs … [Read more...]
Company insolvencies exceeded 25,000 in 2023
Corporate insolvencies exceeded 25,000 for the first time since the 2009 financial crisis in 2023, new December insolvency statistics have shown. Figures also showed that December, typically a quieter month for company insolvencies saw more than 2,000 firms close their doors, surpassing the … [Read more...]
ONS records December uptick in inflation
The Office of National Statistics (ONS) has found that its core measure of inflation, the Consumer Price Index (CPI) rose slightly in December 2023 to 4%. The slight rise, up from 3.9% in November last year, is the first increase in the rate of inflation seen since February of the same year. … [Read more...]
UK economy grew 0.3% in November 2023
The Office for National Statistics (ONS) has revealed that the UK economy grew 0.3% in November 2023 according to its latest GDP estimates. Despite the modest growth, UK output is estimated to to have fallen 0.2% in the three months to November 2023 when compared to the previous quarter, with … [Read more...]
HS2 to offer slower trains and reduced capacity between Manchester and London, MPs told
Sir John Thompson, Chief Executive of HS2 Ltd, has told MPs on the House of Commons' Transport Select Committee that cancelling HS2's northern leg between Birmingham and Manchester would mean reduced capacity and slower services than at present. Prime Minister Rishi Sunak announced the … [Read more...]
Government to quash wrongful convictions for postmasters
Rishi Sunak has announced he will exonerate postmasters who were wrongfully convicted as a result of errors in the Post Office's Horizon software. The Prime Minister announced legislation that will overturn convictions later this year, and ensure victims are compensated; payments will be … [Read more...]
National Insurance rate cut takes effect for employees
The rate of National Insurance paid by employees fell from 12% to 10% from Saturday 6th January 2024, following the announcement of the cut in the Chancellor's Autumn Statement last year. For a typical salaried worker earning £35,400, HMRC expects this will equate to a reduction in tax of around … [Read more...]
Record registrations of electric vans seen in 2023
2023 saw record new vehicle registrations for battery electric vans, with more than 20,000 registered according to data from the Society of Motor Manufacturers and Traders (SMMT). Across commercial vehicles, businesses and fleets invested in over 340,000 new light commercial vehicles (including … [Read more...]
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