Cuts to grants ‘affecting sales of electric cars in the UK’

A report published by the European Automobile Manufacturers’ Association (EAMA) has suggested that sales of electric cars in the UK are being affected by the government’s decision to reduce the grant for buyers of so-called ‘green’ vehicles. In the Autumn of 2018, the government made the decision to slash the grant for buyers of electric [&hellip
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Government launches consultation on Companies House reforms

The government has launched a consultation on new Companies House reforms, including a ‘major upgrade’ of its register. The consultation aims to tackle misuse of the register. It also strives to provide business owners with ‘greater protection from fraud’. Some of the key measures proposed by the government include a ‘robust’ identity check for company [&hellip
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CIOT warns Digital Services Tax ‘not a cure for struggling high streets’

The Chartered Institute of Taxation (CIOT) has warned that the government’s planned Digital Services Tax (DST) won’t serve as a cure for the UK’s ‘ailing high streets’. From April 2020, the DST will apply a 2% tax to the revenues of certain digital businesses. A double threshold will exist, meaning that businesses will have to [&hellip
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Bank of England upgrades UK growth forecast

The Bank of England has upgraded its 2019 growth forecast for the UK economy. It now predicts that the UK economy will grow by 1.5% in 2019, 1.6% in 2020 and 2.1% in 2021. Additionally, the Monetary Policy Committee (MPC) voted to keep interest rates on hold at 0.75% at its recent meeting. The rates [&hellip
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AAT urges government to ‘fix broken business rates system’

The Association of Accounting Technicians (AAT) has urged the government to ‘fix the broken business rates system’. The AAT advocates a complete overhaul of the system, stating that it is currently ‘unfit for purpose’. According to the professional body, the retail sector is ‘suffering significant problems’ as a result of rising business rates. It has [&hellip
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HMRC warns young people to ‘stay vigilant’ as number of tax scams rises

HMRC has warned young people in the UK to ‘stay vigilant’ in order to avoid falling victim to tax refund scams. According to HMRC, criminals often target young individuals or the elderly as these groups of people are ‘more likely to be less familiar with the UK tax system’. HMRC has warned taxpayers to be [&hellip
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Government pledges additional £200 million in funding for UK firms

The government has stated that it will provide high-growth UK businesses with an additional £200 million in funding. According to the government, the funds will be made available to innovative businesses to ensure they can ‘access the finance they need to grow’. The Exchequer Secretary to the Treasury, Robert Jenrick, said that the government is [&hellip
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Research suggests ‘less than a quarter’ of UK SMEs plan to expand overseas

Research carried out by DocuSign has found that just 22% of small and medium-sized enterprises (SMEs) plan to expand their business beyond the UK. SMEs stated that the most significant barriers to growth include a lack of available finance, a lack of inexperience and large amounts of red tape. The survey of 1,000 small business [&hellip
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Business believes UK tax system is ‘fundamentally unfair’, research suggests

According to research published by the British Chambers of Commerce (BCC), businesses believe that the UK tax system is ‘fundamentally unfair’. The BCC polled more than 1,000 businesses, and found that 58% of firms believe that the tax system is ‘unfair to businesses like theirs’. 67% of firms ‘don’t believe HMRC applies tax rules fairly [&hellip
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Study suggests UK employees ‘work longest hours in EU’

A study carried out by the Trades Union Congress (TUC) has suggested that UK employees ‘work the longest hours in the EU’. According to the study, full-time employees in the UK worked an average of 42 hours per week in 2018. Employees in countries such as Ireland, Italy, France and Belgium worked an average of [&hellip
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