Jan 27, 2023 | Current AffairsGovernment Announcements
In a hearing on Thursday (26 January), HMRC chief Jim Harra told the Public Accounts Committee that the level of small business tax debt is growing. This can be partly attributed to businesses struggling with poor economic conditions as inflation soars and the cost of...
Jan 24, 2023 | Current AffairsPersonal Tax
According to a new analysis from think tank Civitas, the top 20% of earners pay two-thirds (66%) of all income tax. In the tax year 2020/21, 83% of income tax came from the top 40% of earners, while the top 10% contributed over half the total - three times as much as...
Jan 19, 2023 | Current Affairs
Inflation eased slightly from 10.7% to 10.5% in December 2022, according to the latest figures from the Office for National Statistics (ONS). Falling transport costs, particularly motor fuels, played the most significant role in this change. The inflation rate for...
Jan 6, 2023 | Current Affairs
Soaring inflation remained a key concern for businesses at the end of 2022, according to the latest quarterly economic survey (QES) from the British Chambers of Commerce (BCC). Of the 5,600 firms surveyed - 92% of which are SMEs - 80% said that inflation was a growing...
Dec 16, 2022 | Current Affairs
The Bank of England (BoE) is raising the base interest rate by 0.5% to 3.5% following a Monetary Policy Committee (MPC) meeting on Wednesday (14 December). The MPC voted by a majority of 6-3 to increase the rate by 0.5%. Two committee members voted to maintain the...
