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Coronavirus ‘gravest threat to global economy since financial crisis’, says OECD March 5, 2020

The Organisation for Economic Co-operation and Development (OECD) has warned that the coronavirus represents the ‘gravest threat’ to the global economy since the 2008 financial crisis. The OECD has called on governments around the world to act immediately in order to limit the spread of the virus and protect people and businesses from its effects.
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IFS urges Chancellor to raise taxes in upcoming Budget March 5, 2020

The Institute for Fiscal Studies (IFS) has urged Chancellor Rishi Sunak to use the forthcoming Budget to raise taxes. The think tank stated that the Chancellor either needs to raise taxes or ‘break a fiscal rule’ in order to avoid day-to-day spending cuts beyond 2021. However, the Conservative Party’s election manifesto promised not to raise
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Off-payroll working rules get green light for April March 5, 2020

The government has confirmed that reforms to off-payroll working rules for the private sector will be implemented from 6 April 2020. The introduction of the off-payroll rules, which are known as IR35 and have applied to the public sector since 2017, has been under review. The review has now concluded, and the changes will go
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UK fast becoming cashless, says report February 26, 2020

The UK will become a cashless society within the next 15 years unless the government takes action, according to the Access to Cash Review. The Review, which published its final report a year ago, said action is needed to protect cash for as long as people need it. However, 12 months on issues with the
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NAO finds tax reliefs cost UK £155 billion per year February 26, 2020

Research carried out by the National Audit Office (NAO) has found that UK tax reliefs cost £155 billion per year. The NAO identified 362 ‘tax expenditures’. It classes these expenditures as tax reliefs that ‘support government economic and social objectives’. According to the NAO, HMRC only costed 111 tax expenditures. These had a combined cost
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