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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...]

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...]

Greater Manchester hospitality group announces closures

Tameside-based Revolution Bars Group has become the latest hospitality brand to announce it is closing sites amid rising costs for the sector. The Greater Manchester headquartered group has announced eight closures across its brands, including at Wilmslow and Liverpool St Peters in the North … [Read more...]

Timetable for zero emission vehicle transition becomes law

The UK government's timetable for phasing out petrol and diesel powered cars and transitioning to zero emission vehicles by 2035 has become law. Plans put forward a pathway for vehicle manufacturers to phase out production and sale of fossil fuel-powered cars and vans. By 2030 80% of new cars and … [Read more...]

Less than one month remains before Self Assessment deadline

Self Assessment taxpayers have less than one month to file their 2022-23 returns and pay any tax due before the 31st January deadline. Over 6.5 million people have already filed their tax returns for the 2022-23 financial year, however, around 5.7 million Self Assessment taxpayers have yet to … [Read more...]

ONS reveals further fall in inflation

The latest Consumer Price Index (CPI) figure published the Office of National Statistics (ONS) shows that the headline rate of inflation fell to 3.9% in November. The latest fall recorded by the ONS means that average price rises are now at their slowest rate of growth since 2021, down from 4.6% … [Read more...]