Inflation rises to 10.4% in February

Inflation rose to 10.4% in the year to February 2023 after falling for three consecutive months - up from 10.1% in the year to January. This increase largely came from salad and vegetable shortages, as poor weather conditions in southern Europe and Africa affected...

Finance sector increases female representation

The finance sector is making strides in female representation, according to a new report from the Women in Finance charter. The report shows that the proportion of women in senior management roles across charter signatories rose from 33% to 35% in 2022. Nearly...

GDP rises by 0.3% in January

GDP bounced back by 0.3% in January 2023 after falling by 0.5% in December 2022, according to the latest estimates from the Office for National Statistics (ONS). The services sector saw the most significant monthly growth, rising by 0.5% in January compared to a 0.8%...

MPs criticise HMRC’s approach to furlough fraud

MPs have criticised HMRC's approach to tackling furlough fraud after the tax authority recovered a fraction of fraudulent claims. HMRC estimates it paid around £2.3 billion to employers claiming furlough for staff who continued to work during the pandemic. So far, the...

Accountants call for improved HMRC service

Accountants have signed an open letter urging Chancellor Jeremy Hunt to address HMRC's "unacceptably low" customer service levels in his upcoming Spring Budget. The group of leading professional bodies say that Hunt should prioritise investment in HMRC to tackle...