In a letter to the Treasury, the Office for Budget Responsibility (OBR) has stated that it will publish forecasts for the UK’s public finances despite cancellation of the 6 November Autumn Budget. The OBR highlighted the fact that the forecasts were prepared on...
Experts have warned Chancellor of the Exchequer Sajid Javid that prioritising HMRC over other creditors in insolvencies will have a ‘negative impact on the UK’s economic growth’. The letter that issued the warning was signed by 11 business...
HMRC published figures that revealed that the total number of claims for R&D tax credits has increased by 20%. The latest figures cover the 2017-18 tax year, and show that 48,635 R&D tax credit claims were made. 42,075 of these were made by small and...
Productivity in the UK fell at its fastest annual rate for five years during the second quarter of 2019, according to the Office for National Statistics (ONS). After two previous quarters of zero growth, productivity (measured by output per hour) fell by 0.5%. The ONS...
UK businesses have been urged to review their Brexit plans by the Financial Reporting Council (FRC). The FRC has written to finance directors and audit committee chairs setting out the measures firms should consider. The letter, written by the FRC’s Chief...
1 in 10 UK employees don’t receive payslips, while 1 in 20 are missing out on their legal holiday entitlement, reports think tank the Resolution Foundation. The Resolution Foundation’s analysis into UK labour market violations has been released to mark a...
The Institute for Public Policy Research (IPPR) have reported that a new tax system in the UK which brings rates on wealth and assets into line with those on income. The report claims that bringing taxation for assets into line with income tax rates could raise over...
Chancellor Sajid Javid, revealing his new Spending Review, said that ‘austerity is over’ announcing significant increases in spending across most government departments. He also claimed that the increases showed that although cuts over the past decade had...
The government could be forced to change pensions rules in order to end conflict with NHS doctors. Doctors have recently been refusing overtime shifts after being hit with ‘punitive tax bills’ following changes to the amount that can be accrued tax-free. A...
According to data published by the Confederation of British Industry (CBI), manufacturing output in the UK has stabilised in the three months to August. The Industrial Trends Survey, published by the CBI, revealed that 15% of UK manufacturers reported total order...
