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06 Oct 2022
The government has abandoned its plan to abolish the top rate of income tax due to the negative reaction it has received.
Chancellor Kwasi Kwarteng used the 2022 Mini Budget to announce a series of tax cuts for businesses and individuals.
The International Monetary Fund warned the UK government against 'large and untargeted fiscal packages' following the Mini Budget.
Wholesale energy prices for businesses will be capped at 'less than half' of the anticipated winter levels under the government's support package.
HMRC is reminding businesses that they will no longer be able to use their existing Value Added Tax online account to submit VAT returns from 1 November.
Eight in ten small businesses are finding it difficult to recruit staff, according to a report published by the Federation of Small Businesses (FSB).
HMRC will raise interest rates on tax debt from 11 October following the 0.5% increase in the base rate.
Action Fraud has warned that criminals are using the ongoing cost-of-living crisis to target the public with energy rebate scams.
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