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Category: Business News

Are you an early bird?

Are you an early bird?

HM Revenue & Customs (HMRC) have released figures showing that 295,250 Self Assessment tax returns were filed in the first week of the new tax year. Almost 70,000 were filed on the first day – April 6th. This seems to suggest an increasing trend for filing tax returns early. Last year, 246,210 returns were filed in the opening week.

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Government promise to cut National Insurance confirmed

Government promise to cut National Insurance confirmed

While commenting on the GDP growth and what it indicates about the economy, the Prime Minister again drew attention to National Insurance. The article released by the Prime Minister’s Office noted that the progress in the economy has allowed them to bring down taxes, particularly the recent cuts in National Insurance.

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Ransom payments: New guidance on ransomware demands

Ransom payments: New guidance on ransomware demands

The National Cyber Security Centre has joined forces with three major UK insurance associations to release new guidance designed to help reduce ransom payments made by victims of cyber crime. The guidance sets out best practice and gives recommendations that can help businesses and other organisations make informed decisions when they are faced with ransomware.

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UK benefits from tech investments of over £2 billion in one week

UK benefits from tech investments of over £2 billion in one week

HM Treasury have published a press release pointing out that over £2 billion has been invested by leading tech firms in the UK in the space of just one week. Coreweave, the AI (artificial intelligence) firm, are investing £1 billion in the UK and have confirmed that their new European headquarters will be based in London.

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Recycling collections being revamped to make them simpler

Recycling collections being revamped to make them simpler

Recycling can be confusing, leaving people and businesses wondering what items can be recycled on bin day. So, a new common-sense approach has been announced to make bin day easier and more standard across the country. Councils will now be allowed to collect plastic, metal, glass, paper, and card in one bin in all circumstances.

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How can you save on capital gains tax?

How can you save on capital gains tax?

Over the last two years, the tax-free allowance for capital gains tax has been cut by over three-quarters. For the tax year that recently began on 6 April 2024, the Annual Exempt Amount has been reduced to £3,000 (£1,500 for trustees). These reductions mean that more and more of us are likely to be affected by capital gains tax.

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Official figures show that the UK no longer in recession

Official figures show that the UK no longer in recession

Figures published by the Office for National Statistics on 10 May 2024 show that the UK has officially exited recession. UK gross domestic product (GDP) is estimated to have increased by 0.6% in Quarter 1 (Jan to Mar) 2024, following declines of 0.3% in Quarter 4 (Oct to Dec) and 0.1% in Quarter 3 (July to Sept) 2023.

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