Category: Business News

Higher tax threshold for side hustles: What could it mean for you?

Higher tax threshold for side hustles: What could it mean for you?

Last week, the tax minister responsible for HM Revenue and Customs (HMRC), James Murray, delivered a speech marking the 20th anniversary of HMRC. Previously, the UK’s tax authority was known as Inland Revenue. During the speech he highlighted some simplifications that are planned. Of particular interest was the announcement of plans to increase the Income Tax Self Assessment (ITSA) reporting threshold for gross income from £1,000 to £3,000.

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Five business failures and the lessons they teach

Five business failures and the lessons they teach

Success in business is never guaranteed, even for brands that dominate their industry for decades. A recent episode of the BBC Radio 4 show, Toast, explored five once-thriving companies: Little Chef, Vine, Mothercare, Green Shield Stamps and Safeway. Each of these businesses were very successful for a period of time, but for one reason or another ultimately failed.

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New legislation aims to drive building boom

New legislation aims to drive building boom

The Planning and Infrastructure Bill was introduced to Parliament last week. The legislation is being heralded as bringing transformative reforms to the UK building sector that will boost homebuilding and remove obstacles to needed infrastructure.

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Your voice could be your password

Your voice could be your password

HM Revenue and Customs (HMRC) have plans to use a callers voice as their password in an effort to speed up phone calls. In systems that are being used by banks, a customer’s voice recording is turned into encrypted biometric data, which is then used when they call to clear security checks. HMRC are planning to trial a system like this.

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Safe working with screens: What employers need to know

Safe working with screens: What employers need to know

The Health and Safety Executive are reminding employers about their responsibilities to protect workers from the health risks that come from working with display screen equipment (DSE), including PCs, laptops, tablets and smartphones. The Health and Safety (Display Screen Equipment) Regulations apply to any worker that uses DSE on a daily basis for continuous periods of an hour or more.

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New import bans following foot and mouth case

New import bans following foot and mouth case

Following a confirmed case of foot and mouth disease at a cattle farm in Hungary’s north-west, new import bans have been announced. The commercial import from Hungary and Slovakia of cattle, pigs, sheep, goats and other non-domestic ruminants and porcines such as deer and their untreated products, such as fresh meat and dairy, are now banned.

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Latest statistics from ACAS: Employers proactive about finding information

Latest statistics from ACAS: Employers proactive about finding information

In their latest blog, ACAS (Advisory, Conciliation and Arbitration Service) revealed some insights from their latest helpline and early conciliation data. They report that the demand for their services continues to trend up. Their helpline service handled around 158,500 calls in the final quarter of 2024, which is an increase of 11% on the previous quarter. Web traffic has also increased significantly: up by nearly 20% on the previous year.

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Funding announced for ‘exporting’ UK music acts

Funding announced for ‘exporting’ UK music acts

The Music Export Growth Scheme (MEGS) will be using their latest round of funding totalling £1.6 million to help support 58 UK artists to tour the world. The funding will help small and medium sized music companies with their marketing and promotion campaigns for their artists touring abroad. The aim is to attract new fans, overseas touring opportunities and revenue.

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Red tape to be cut for payments systems

Red tape to be cut for payments systems

The government has announced plans to lay legislation that will end the Payment Systems Regulator (PSR). The PSR currently looks after payment systems such as Faster Payments and Mastercard. However, its role will be consolidated into the Financial Conduct Authority.

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