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Interest rate held at 4.5% amid global tensions

Bank of England votes to leave interest rate unchanged at 4.5%, despite three members voting for a cut, as inflationary pressure and geopolitical risk kicks in

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Tax gap estimated at 5.3%

Every year, HMRC estimates the tax gap using the most up to date information available, though figures may be revised as more data becomes available.

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10,000 companies removed from register for ‘illicit activities’

Companies House has removed thousands of companies from the register after finding just 30 entities had incorporated up to 50,000 companies

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Spending Review 2025: Takeaway Points for Your Business

Last week, the Chancellor unveiled her Spending Review setting out how government departments will allocate money over the coming years.

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109k jobs cut as first signs of NI increase strikes

The fallout from the 1.2% rise in employers’ national insurance has hit employment figures with 109,000 job losses in May, the worst figure for four years

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Named and Shamed: Employers Failing to Pay Minimum Wage

In its latest round of investigations, HM Revenue and Customs (HMRC) have named 518 employers who have failed to pay the National Living or National Minimum Wage correctly to their staff.

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826,000 families boost finances with childcare savings

Nearly 826,000 working families saved up to £2,000 per child with Tax-Free Childcare in the 2024 to 2025 tax year

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Bonus as Salary or Dividend: Which Pays Off?

If you run your own company, you might have the option to take a bonus either as salary or as a dividend. But which one leaves you better off?

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When is Diversification a Good Business Strategy?

Diversification isn’t just about chasing trends. It’s about making your business more adaptable and more resilient

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HMRC stops posting letters for CT reminders and receipts

From June 2025, HMRC will start a trial to see how companies respond if they are not sent reminder letters by HMRC about corporation tax reminders, instalment payment reminders and interest statements, known as CT208 letters.

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HMRC Advisory Fuel Rates from 1 June 2025

HMRC have published their new Advisory Fuel Rates for company users of petrol and diesel cars, which have been slightly tweaked, while electric rates are unchanged

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Employer national insurance raises £2.1bn extra in single month

More than £2bn was raised from employer’s national insurance in April alone even before the full impact of rises are felt, while inheritance tax was up 14% in a single month

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Chancellor backs off plan to slash £20k ISA limit

Savers can breathe a temporary sigh of relief as the Chancellor ditches plan to cut ISA tax-free limit but could see allowance split between shares and cash

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Don’t Miss Out: Parents of Teenagers Need to Extend Child Benefit by 31 August

If you’re a parent of a 16 to 19-year-old who’s staying in full-time education or training, HM Revenue and Customs (HMRC) is reminding families to extend their Child Benefit claim by 31 August to avoid the payments stopping altogether.

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Thinking About Your Tax Return?

H M Revenue and Customs have reported that a record number of people- nearly 300,000 - have already filed their 2024–25 tax return

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New Immigration Changes: What Businesses Need to Know

The government announced major changes last week to the immigration system as part of its plan to reduce net migration and encourage more home-grown skills.

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New Reforms Aim to Tackle the Growing Problem of Small Pension Pots

The government has announced plans to address the growing issue of small, forgotten pension pots

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UK-India Trade Deal Set to Unlock Major Export Opportunities for UK Businesses

The UK and India signed a new trade agreement last week that will reduce tariffs and open up one of the world’s fastest-growing markets to British businesses

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New Rules Aim to Curb Sudden Bank Account Closures

From April 2026, banks and payment service providers will face stricter rules around how and when they can close customer accounts

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Cyber Attacks on Retail Giants: What Every Business Should Learn

The advice from NCSC seems to indicate that these recent incidents are not about high-tech hacking. It’s about gaining trust and then gaining access. This makes it vital to see cyber security not as an IT issue, but a business-wide responsibility.

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