The Department for Work and Pensions (DWP) has warned that pensioners retiring in 2050 are set to be worse off than those retiring today. According to the DWP, nearly half of working-age adults in the UK are not saving into a private pension. More than three million self-employed workers do not currently save into a
Recruitment at UK firms remained static in the second quarter of 2025 as businesses continued to assess the impact of the rise in employer National Insurance contributions (NICs), says the British Chambers of Commerce (BCC). The BCC’s latest Quarterly Recruitment Outlook (QRO) showed that 55% of firms attempted to recruit in the last three months,
Personal guarantees risk holding back the growth the economy needs, the Federation of Small Businesses (FSB) has warned. Research by the FSB shows that 60% of limited company directors would borrow to grow their business – if they did not have to put hard-earned assets like savings or their houses on the line. By contrast,
HMRC has issued a warning to be on high alert for scams linked to Winter Fuel Payments after receiving 15,100 reports of bogus activity in June. Fraudsters have been targeting vulnerable individuals using SMS messages and phishing websites. During June, HMRC took action to remove 4,600 fake websites linked to Winter Fuel Payments. HMRC is
HMRC plans to introduce a tax avoidance criminal offence risks overreach, the Chartered Institute of Taxation (CIOT) has warned. HMRC plans to create a new strict liability criminal offence for failing to disclose notifiable arrangements under the Disclosure of Tax Avoidance Schemes (DOTAS) regime without a reasonable excuse. The CIOT argues that DOTAS is much
UK-based holders of cryptoassets will have to provide personal details to crypto service providers or face penalties of up to £300 from HMRC. The regulations will be introduced in the UK on 1 January 2026 and are part of the OECD Cryptoasset Reporting Framework (CARF). This requires crypto platforms to share detailed information with tax
Inheritance Tax (IHT) on pensions is the most unpopular of the tax raising measures introduced by the Labour government during its first year, according to a survey. The survey conducted by investment platform AJ Bell found that 44% of respondents were opposed to the pension IHT proposals while only 21% supported them. Other measures were
More than one in four UK businesses have been the victim of a cyber-attack in the last year with many risking ‘sleepwalking’ into disruption, according to a new report. The survey conducted by the Royal Institution of Chartered Surveyors (RICS) found that 27% of companies said their building had suffered a cyber-attack in the last
The Windsor Framework is creating severe disruption for small businesses and fracturing the UK Internal Market, warns the Federation of Small Businesses (FSB). The Framework was negotiated as part of the UK’s exit from the EU and is intended to unlock opportunities for Northern Ireland. However, FSB research found that 58% of those trading between
HMRC is warning those earning extra income through a side hustle to check if they need to register for self assessment and file a tax return. Side hustles can be any additional income stream, from online selling to content creation, from dog walking to property rental. It also includes gains or income received from cryptoassets.