Business News

This section contains the latest business news stories.

Ombudsman calls for swift action for victims of 'authorised scams'

29 Jun 2022

The Financial Ombudsman Service recently published its annual complaints data for the 2021/22 financial year and found that complaints about 'authorised scams' increased by a fifth.

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FSB urges government to learn regulatory lessons from COVID pandemic

28 Jun 2022

The Federation of Small Businesses (FSB) has urged the government to 'lean lessons from the implementation of coronavirus (COVID-19) health measures' to generate a regulatory business environment that steers away from recession.

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Paper £20 and £50 notes to be withdrawn from circulation by end of September

27 Jun 2022

The Bank of England (BoE) has reminded the public that it will be withdrawing the legal tender status of paper £20 and £50 banknotes after 30 September 2022.

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Tax gap remains steady at 5.1%

24 Jun 2022

The estimated tax gap for the 2020/21 tax year is 5.1% - the second lowest recorded percentage - and is unchanged from the previous year, according to the latest data from HMRC.

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UK outlines plans to tighten 'buy now pay later' rules

23 Jun 2022

The UK government has announced plans to strengthen rules on 'buy now pay later' services, improving protection for users of the short-term credit.

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Inflation hits 40-year high of 9.1% amid cost-of-living crisis

22 Jun 2022

UK inflation has risen to 9.1% in May from 9% in April as the cost-of-living crisis continues, according to the latest data from the Office of National Statistics (ONS).

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Manufacturers call for support package

21 Jun 2022

Manufacturing trade body Make UK is calling for an emergency, pre-recess package of business support measures.

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MTD for income tax pilot extended

20 Jun 2022

HMRC is extending the pilot for Making Tax Digital for income tax self assessment (MTD ITSA) to more self-employed workers and landlords.

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Bank of England raises UK interest rates to 13-year high of 1.25%

17 Jun 2022

The Bank of England (BoE) has raised UK interest rates to a 13-year high of 1.25% and is now predicting inflation will hit 11% this autumn, when energy bills are set to rise again.

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IoD launches new inquiry into governance arrangements and framework

16 Jun 2022

The Institute of Directors (IoD) has launched a new inquiry to analyse how good corporate governance can drive innovation.

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Trade body urges Chancellor to keep tax rates low on electric company cars

15 Jun 2022

The British Vehicle Rental and Leasing Association (BVRLA) has urged Chancellor Rishi Sunak to keep benefit-in-kind (BiK) tax rates low on electric company cars to promote their usage amongst UK workers.

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COVID-19 emergency loan schemes may have saved 500,000 businesses

14 Jun 2022

The government's coronavirus (COVID-19) emergency loan guarantee schemes may have saved between 150,000 and 500,000 businesses, according to research from the British Business Bank (BBB).

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CBI downgrades forecast and warns of recession

13 Jun 2022

The government must take 'vital action' to avoid a recession after the forecast for economic growth was downgraded, warns the Confederation of British Industry (CBI).

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New homeowners warned over tax refund claims

10 Jun 2022

New homeowners are being warned about cold calls from rogue tax repayment agents advising them to make speculative Stamp Duty Land Tax (SDLT) refund claims, which could leave them with large tax bills.

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