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CBI publishes Budget wishlist February 13, 2020

The Confederation of British Industry (CBI) has published its wishlist ahead of the 2020 Budget, which will be delivered on Wednesday 11 March. In its wishlist, the business group has called for the government to use the Budget to launch a comprehensive review into the UK’s business rates system. The CBI also urged the government
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UK business confidence bounces back in January February 13, 2020

According to a survey carried out by the Institute of Chartered Accountants in England and Wales (ICAEW), UK business confidence bounced back in January after the election of a majority government saw political uncertainty recede. Business confidence was -20.6 at the end of last year, its lowest point for a decade. It has now recovered
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Company insolvencies increase to highest level since 2013 February 6, 2020

According to data from the Insolvency Service, during 2019 the total number of company insolvencies in England and Wales rose to its highest level since 2013. The figures revealed that the increase was largely driven by a rise in creditors’ voluntary liquidations. Creditors’ voluntary liquidations reached their highest annual level since 2009. Meanwhile, the number
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MTD for VAT proving costly and failing to reduce errors February 6, 2020

The implementation of Making Tax Digital for VAT (MTD for VAT) has proved costly and has failed to reduce errors, according to a survey by the Chartered Institute of Taxation (CIOT) and the Association of Taxation Technicians (ATT). The results of the survey of over 1,000 businesses and agents contradict HMRC’s claims in regard to
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Chancellor raises NIC threshold to £9,500 February 6, 2020

The Chancellor of the Exchequer, Sajid Javid, has raised the threshold at which taxpayers start to pay national insurance contributions (NICs) to £9,500 a year. The change will apply for the 2020/21 tax year beginning this April and moves the government closer to its target of a £12,500 threshold for NICs, which would bring it
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