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Business tax changes take effect at start of new financial year

Changes to how businesses can deduct capital expenditure, as announced in the Spring Budget, have come into effect from the 1st April. The changes, comprising 100% full expensing and a 50% first-year allowance, are estimated to save businesses around £27 billion in corporation tax over the next … [Read more...]

Campaign launched to help businesses drive down energy bills

The government has launched a new campaign to encourage businesses, charities and public sector organisations to improve energy efficiency and reduce their bills. The campaign is being targets at SMEs, highlighting simple low- and no-cost changes that can offer significant savings to energy … [Read more...]

UK Government sets out approach to AI innovation

The UK Government has published its first White Paper, setting out how it will guide innovation in artificial intelligence (AI) to both deliver economic growth and ensure public trust in the technology. In the White Paper, A pro-innovation approach to AI regulation, the government establishes … [Read more...]

Vulnerability found in 3CX Desktop app

Users of 3CX's Desktop app, allowing business to make phone calls via their computers, are being advised to uninstall the app following vulnerability in the software. The vulnerability is affecting versions 18 and above of the 3CX Desktop on both Windows and macOS operating systems (pictured). … [Read more...]

HMRC late payments interest rates revised

Following the Bank of England's decision to increase its base interest rate to 4.25%, HMRC has confirmed that interest on late payments will also increase. HMRC interest rates are linked to the Bank of England base rate, and set at the base rate plus 2.5%. Repayment interest is set at the higher … [Read more...]

Emergency Alert System now live in the UK

A new system to provide alerts to smartphones and other devices in the event of life-threatening emergencies has now gone live in the UK. Alerts will be sent from either government departments or emergency services in the event of a nearby situation where there is a danger to life. Events that … [Read more...]

Interest rates rise further to 4.25%

The Bank of England's Monetary Policy Committee (MPC) has voted to raise the bank's base rate to 4.25%, the eleventh consecutive rise in interest rates since January 2022. The rate rise follows the release yesterday of the February's Consumer Prices Index which found inflation had risen to 10.4%, … [Read more...]

February saw slight rise in inflation

Inflation rose to 10.4% in February, the Office of National Statistics (ONS) has revealed with the publication of its latest Consumer Price Index (CPI) data. The 0.3-percentage point rise on the annual rate of inflation from January's figures ends three months of consecutive falls and goes … [Read more...]

UK and Ukraine sign digital trade deal

The UK has signed a new digital trade deal with Ukraine, enhancing UK-Ukraine trade and investment relationships and supporting the Ukrainian economy. On Monday 20th March, Business and Trade Secretary Kemi Badenoch and Ukrainian Economy Minister, Yulia Svyrydenko virtually signed a … [Read more...]

Chancellor announces 2023 Spring Budget

Chancellor of the Exchequer Jeremy Hunt has delivered his 2023 Spring Budget, setting out plans for levelling up all parts of the UK and restoring growth to the UK economy. The Chancellor's first Budget since taking on the role in October 2022 comes against a backdrop of slow economic growth, … [Read more...]