Business News

26 Oct 2020

NAO finds 'significant levels of furlough fraud occurred' during start of pandemic

A report published by the National Audit Office (NAO) has revealed that significant levels of furlough fraud occurred during the first few months of the coronavirus (COVID-19) pandemic.

23 Oct 2020

Chancellor increases financial support for businesses affected by COVID restrictions

On 22 October Chancellor Rishi Sunak announced increases to the coronavirus (COVID-19) financial support measures first outlined in the Winter Economy Plan.

22 Oct 2020

IoD outlines reforms to Prompt Payment Code

The Institute of Directors (IoD) has outlined reforms to the Prompt Payment Code.

21 Oct 2020

HMRC urges businesses to ensure they are ready for new customs and tax rules

HMRC has urged businesses to make sure they are prepared for new customs and tax rules so that they can continue to trade with the EU from 1 January 2021.

20 Oct 2020

PAC calls on government to give 'honest picture' of UK tax gap

The Public Accounts Committee (PAC) has urged the government to give a 'more honest' picture of the likely levels of the UK tax gap.

19 Oct 2020

Government outlines plans to protect future of cash

The government has outlined plans to protect the UK's cash system and ensure people have easy access to cash.

16 Oct 2020

Government launches new coronavirus fraud hotline

The government has launched a new coronavirus (COVID-19) fraud hotline in conjunction with independent charity Crimestoppers.

15 Oct 2020

Over 54,000 workers claim home working tax relief using online portal

HMRC has received over 54,800 claims from customers using a new online portal that allows employees to claim tax relief for working at home.

14 Oct 2020

Tax rises 'inevitable', says IFS

The Institute for Fiscal Studies (IFS) has suggested that the UK will require tax rises of £40 billion or more per year during the middle years of this decade to stop debt spiralling upwards as a result of the coronavirus (COVID-19) pandemic.

13 Oct 2020

Resolution Foundation warns of a 'lost COVID generation'

Think tank the Resolution Foundation has suggested that the coronavirus (COVID-19) has created a 'U-shaped crisis', with young adults and pensioners most likely to have stopped working during the pandemic.

12 Oct 2020

Job Support Scheme expanded for local lockdowns

The government's Job Support Scheme (JSS) will be expanded to protect jobs and support businesses required to close their doors due to local lockdowns as the number of coronavirus (COVID-19) cases continues to rise in some areas.

09 Oct 2020

Government to proceed with plans to create freeports across UK

The government has confirmed that it will create new freeports across the UK in 2021.

08 Oct 2020

NAO warns loan scheme could result in £26 billion in losses

The National Audit Office (NAO) has warned the government that it faces a potential loss of £15 billion to £26 billion as a result of criminals taking advantage of the coronavirus (COVID-19) Bounce Back Loan Scheme (BBLS).

07 Oct 2020

Survey finds business conditions remained weak in third quarter of 2020

A survey carried out by the British Chambers of Commerce (BCC) has found that, despite the UK economy reopening, business conditions 'remained weak' in the third quarter of 2020.

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