UK pension providers have joined forces to establish a new UK scale-up fund of more than £1 billion to back the next generation of high-growth science and technology companies. The new fund aims to increase UK growth capital and give pension savers greater access to returns from successful UK companies. It would seek to deliver
Prime Minister Andy Burnham has slashed business rates for pubs, clubs and live music venues in England by 20%. The reduction will take effect from April 2027 and will save the typical pub an estimated £1,100 next year, according to the government. Designed to cut costs for working people and communities, the move will benefit
HMRC’s performance data for 2025/26 shows it has made progress on customer service but still has a way to go, according to the Chartered Institute of Taxation (CIOT). The data shows a mixed picture with progress on compliance activity, digital adoption and HMRC’s telephone service. However, challenges remain around debt levels, correspondence handling and customer
The government recently announced that VAT will be cut from household electricity bills from 1 October in time to impact the next Ofgem price cap. The move is part of new Prime Minister Andy Burnham’s commitment to help ease the cost of living. The cost of this immediate action for this financial year is being
HMRC is reminding people with side hustles that they will need to tell it if they earn more than £1,000. The Help for Hustles campaign aims to assist individuals with side hustles to ‘get their tax right, quickly and easily’. New entrants to self assessment should register for the 2025/26 tax year by 5 October
Firms supporting people to buy, trade and hold crypto will need to meet new standards under landmark rules set out by the Financial Conduct Authority (FCA). All firms must meet financial resilience requirements including capital and stress testing. The FCA is also introducing new market integrity rules. These cover areas such as insider trading and
Significant reforms to small business finance have been announced by the government. The centrepiece of the plans is an expansion of the British Business Bank’s (BBB) Growth Guarantee Scheme (GGS) which provides a 70% government guarantee on commercial loans to SMEs of up to £2 million. The scheme will scale up to facilitate an additional
HMRC says it is making it easier for informants to report serious tax fraud and avoidance through the Strengthened Reward Scheme. Informants may be eligible for a financial reward if the information they provide leads to HMRC recovering at least £1.5 million in unpaid tax. The strengthened scheme encourages reporting of high-value tax fraud and
The UK government must set out a clear plan to ease the burdens that Brexit has placed on business, says the British Chambers of Commerce (BCC). Over half of UK exporters think the current trade deal with the EU is making it harder to export and the need for change is urgent, according to BCC
Four in ten of Generation Z say they wish they had learnt the basics about tax when they were younger, according to data from HMRC. The tax authority is now encouraging those looking for work this summer to download the HMRC app to find the answers they need. It says that as exams are finishing