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UK business distress hits record high
Over 49,000 firms face critical financial pressure.
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The latest tax, employment, business and economic news affecting firms and individuals alike. Updated each day.
PAYE processing time delayed
HMRC needs nine days to process new PAYE direct debits.FSB criticises plans to reduce SME R&D support
Small businesses less likely to invest after the cuts.Treasury receives £5.4 billion surplus in January
Income tax receipts hit £21.9 billion – the highest take on record.ATT urges the Government to revise AIA rules
“Strange arithmetic intricacies” could "catch out" taxpayers.CIOT calls for fairer HMRC repayment interest rates
Late payment penalties are up to 17 times higher than repayment amounts.HMRC targets short-term landlords over unpaid tax
Airbnb and Booking.com hosts must report rental income to HMRC.Inflation drops slightly to 10.1%
Falling fuel prices and the cost of eating out drove down inflation in January.UK “narrowly avoids recession”
ONS figures show zero growth in the last quarter of 2022.UK sets out plans to regulate cryptocurrency
HMRC aims to provide clarity for businesses and consumers.Industry calls for pause of R&D reforms
The House of Lords has expressed concern over some new measures.