The UK government has sold a further £1.26 billion of shares in the NatWest banking group, reducing its stake to 38.6%. NatWest, which includes both the NatWest and Royal Bank of Scotland (RBS) high street banks, was brought largely under government control to protect the deposits of UK business … [Read more...]
News for: General Business News
HMRC urges workers to claim tax refunds of work-related expenses
HMRC is reminding employed workers to make sure they claim a tax refund for any work-related expenses through the government website. It is estimated that 70% of claimants in the 2021-22 tax year missed out on getting the full amount owed due to using an agent to make the claim, rather than … [Read more...]
HMRC late payments interest rates revised following base rate rise
Following the Bank of England’s decision to increase its base interest rate to 4.5%, 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...]
Bank of England base rate rises by a further 0.25 percentage points
The Bank of England's top economists have agreed a further 0.25 percentage point increase in its base rate of interest, which now stands at 4.5%. The bank's Monetary Policy Committee (MPC) have followed in the footsteps of the US Federal Reserve and the Eurozone's European Central Bank in raising … [Read more...]
Longer lorries to offer £1.4 billion economic boost
Longer lorries are to be permitted on British roads as part of efforts to cut the environmental impact of road emissions and support supply chains, in a move estimated to boost the economy by £1.4 billion. Legislation is being laid today (10th May) to safely roll out lorry trailers up to 2.05 … [Read more...]
New car market continued to grow in April
New car registrations in the UK recorded their ninth consecutive month of growth in April according to the latest data from the Society of Motor Manufacturers and Traders (SMMT). The SMMT found registrations were up 11.6% to reach 132,990 registrations, and reached their highest level since April … [Read more...]
CMA to review the impact of the growing use of AI
The Competition and Markets Authority (CMA) is to review how the development and deployment of AI by businesses could impact on competition and consumer protections. Foundation models, which include large language models and generative artificial intelligence (AI), that have emerged over the past … [Read more...]
Digital Markets, Competition and Consumers Bill introduced to crack down on unfair business practices online
The government has today (25th April) set out new legislation to strengthen consumer protections when using and purchasing goods and services online. The Digital Markets, Competition and Consumers (DMCC) Bill will enhance the role of the UK's Competition and Markets Authority to crack down on … [Read more...]
UK workplaces letting down LGBT+ women, concludes recruiter survey
LGBT+ women are the most unsatisfied group when discussing pay, progression and the workplace in general, according to the findings of a survey by recruitment firm, Robert Walters. In a survey of 6,000 professionals, the recruiter found LGBT+ women are the most likely cohort to be living … [Read more...]
Stockport businesses invited to champion Supported Internships
Stockport businesses which offer or are keen to offer Supported Internships to young people with a learning disability or autism are being invited to attend an online CPD course to get the most out of the placements.] The course has been organised by the national Internships Work programme which … [Read more...]
March CPI inflation remains above 10%
Inflation in March continued to remain above 10% according to the latest Consumer Price Index (CPI) data from the Office of National Statistics (ONS). The ONS found that in March 2023, the average price of goods monitored rose by 10.1% compared to March last year. This represents a 0.3-percentage … [Read more...]
Over 50s account for nearly half of UK’s self-employed people
Almost half of all self-employed working people (48%) in the UK are aged 50 and over, according to ONS data analysed by over-50s digital community, Rest Less. The analysis of bespoke ONS data found the proportion of over 50s becoming self-employed has grown year on year for the last decade, … [Read more...]
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