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Comments Off on Finance sector increases female representation

Finance sector increases female representation

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 to 35% in 2022. Nearly three-quarters of the charter’s signatories increased female representation in senior management, while 6% maintained … Continued

Comments Off on Deadline to top up national insurance contributions extended to 31 July 2023

Deadline to top up national insurance contributions extended to 31 July 2023

Deadline to top up national insurance contributions extended to 31 July 2023

It is normally possible to make voluntary National Insurance Contributions (NIC) for the past six years.  By doing this you ensure that your entitlement to state benefits including state pension are maximised. There is currently an extension to this top up which allows individuals to fill gaps in their NIC record from 6 April 2006 … Continued

Comments Off on Calls for R&D reforms to be paused

Calls for R&D reforms to be paused

Calls for R&D reforms to be paused

The Association of Taxation Technicians (ATT) welcomes a report by the House of Lords expressing concern over proposed reforms to the R&D scheme. The report, published on 31 January, highlights the need to pause any upcoming changes to the SME and R&D expenditure credit (RDEC) schemes. Some of the changes are due to come into … Continued

Comments Off on Chancellor outlines four ‘Es’ for economic growth

Chancellor outlines four ‘Es’ for economic growth

Chancellor outlines four ‘Es’ for economic growth

Speaking at Bloomberg’s European HQ in London on 27 January, Chancellor Jeremy Hunt outlined plans to grow the UK economy and turn the country into “one of the most prosperous countries in Europe”. Hunt set out four ‘pillars’ for growth, including ‘enterprise’, ‘education’, ‘employment’ and ‘everywhere’. Ideas include turning the UK into the next ‘silicon … Continued

Comments Off on Over 300,000 taxpayers miss self-assessment deadline

Over 300,000 taxpayers miss self-assessment deadline

Over 300,000 taxpayers miss self-assessment deadline

Despite a record 11.7 million people submitting their tax returns on time, over 300,000 taxpayers missed the self-assessment deadline. On 31 January, 861,085 taxpayers filed online to meet the deadline, some with minutes to spare – 36,767 individuals filed in the last hour before the deadline. The peak filing hour on the day was between … Continued

Comments Off on Bank of England raises interest rate to 4%

Bank of England raises interest rate to 4%

Bank of England raises interest rate to 4%

The Bank of England (BoE) has raised its interest rate by 0.5% to 4% following a monetary policy committee (MPC) meeting on 2 February. This is the tenth consecutive time the Bank has increased interest rates, resulting in the highest base rate in 14 years. The MPC voted by a majority of 7-2 to increase … Continued

Comments Off on MPs call for urgent improvements to HMRC’s performance

MPs call for urgent improvements to HMRC’s performance

MPs call for urgent improvements to HMRC’s performance

MPs are demanding urgent improvements to HMRC’s “unacceptable service standards” after a parliamentary report discovered an “eye-watering” £42 billion is owed to HMRC from unpaid tax. The report also highlighted a dramatic drop in HMRC staffing levels, with 6,000 employees being cut over the past five years. Dame Meg Hillier, chair of the committee, said: … Continued

Comments Off on Research & development relief guidance under review

Research & development relief guidance under review

Research & development relief guidance under review

HMRC is inviting people to comment on draft guidance relating to the upcoming R&D tax credit relief reforms. The reforms, expected to be implemented from 1 April 2023, will change how R&D works in practice and set out additional information requirements when applying for the relief. Anyone wishing to comment can do so until 28 … Continued

Comments Off on Inflation remains a key concern for business

Inflation remains a key concern for business

Inflation remains a key concern for business

Soaring inflation remained a key concern for businesses at the end of 2022, according to the latest quarterly economic survey 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 worry for their business in Q4 of 2022. Nearly … Continued

Comments Off on Chancellor reveals new energy discount for businesses

Chancellor reveals new energy discount for businesses

Chancellor reveals new energy discount for businesses

The Government has announced a new energy bills discount scheme (EBDS) for UK businesses, set to replace the current energy bills relief scheme (EBRS) once it ends in March. The new support package will last from 1 April 2023 to 31 March 2024, giving organisations a discount on high wholesale prices instead of capping energy … Continued