CBI publishes wishlist for 2018 Autumn Budget

The Confederation of British Industry (CBI) has published its wishlist ahead of the Autumn Budget, which is set to be delivered on Monday 29 October. Within its Budget submission, the CBI outlines ways to ‘unlock enterprise, increase the country’s competitiveness and attract more investors’. Carolyn Fairbairn, Director General of the CBI, has urged Chancellor Philip Hammond to focus on [&hellip
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Government publishes further ‘no deal’ Brexit documents

The government has published the latest batch of ‘no deal’ Brexit documents. A range of issues are covered within the documents, from consumer rights to existing free trade agreements. The latest technical notices also outline the consequences of a no deal scenario on accounting, corporate reporting and auditing. The government has stated that the corporate [&hellip
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TS launches consultation on impact of taxation on UK firms

The Office of Tax Simplification (OTS) has launched a new call for evidence, seeking views in regard to the impact of taxation on UK businesses. The call for evidence comes following the OTS’s April publication of a report which examined how the UK tax system affects firms at each of the key stages of their [&hellip
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Prime Minister announces fuel duty freeze

Prime Minister Theresa May has announced that fuel duty will be frozen for the ninth consecutive year. Speaking at the Conservative party conference, the Prime Minister stated that the government is ‘on the side of hard-working families’. She continued: ‘It’s for them that we cut income tax, introduced a National Living Wage (NLW) and extended [&hellip
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Government announces stamp duty surcharge for overseas buyers of UK property

The government recently announced that it intends to introduce a new stamp duty surcharge of 1% to 3% for foreign buyers of UK property. Prime Minister Theresa May announced the new surcharge during the Conservative party conference. The surcharge forms part of the Prime Minister’s plans to tackle the housing crisis and the issue of [&hellip
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BCC suggests UK economic growth is ‘flatlining’

A survey carried out by the British Chambers of Commerce (BCC) has suggested that the UK economy is ‘stuck in a rut’, with economic growth ‘flatlining’. The BCC also found that Brexit uncertainty has helped to ‘weaken’ confidence amongst firms. The survey of 5,600 UK businesses suggested that the percentage of services firms attempting to [&hellip
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Business rates ‘could be changed’ to help high street retailers

Business Secretary Greg Clark has suggested that business rates ‘could be changed’ in order to help high street retailers in the UK. Experts have stated that rising business rates, increasing staff costs and the rise in popularity of online shopping have created a so-called ‘perfect storm’ for UK retailers. Speaking at the Conservative party conference, [&hellip
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Research reveals £500 million stolen via fraud in first half of 2018

Research published by trade association UK Finance has revealed that, during the first half of this year, criminals stole £503.4 million from the UK public via fraud and scams. Over the same period, the UK finance industry helped to ‘prevent £705.7 million of unauthorised fraud’, the research found. So-called ‘purchase scams’ proved to be the [&hellip
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Chancellor announces Autumn Budget date

Chancellor Philip Hammond has announced that he will deliver the Autumn Budget on Monday 29 October. The 2018 Autumn Budget will be the final Budget before the UK leaves the EU in March 2019. The Chancellor will deliver this year’s Budget earlier than usual, in a bid to avoid important final Brexit negotiations and a [&hellip
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Significant number of UK firms ‘unaware of Making Tax Digital for VAT’

Research carried out by the Institute of Chartered Accountants in England and Wales (ICAEW) has suggested that over 40% of UK businesses are ‘not yet aware’ of Making Tax Digital for VAT (MTD for VAT). MTD for VAT is set to come into effect from 1 April 2019 for businesses with a taxable turnover above [&hellip
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