Treasury delays MTD for ITSA until 2026
The delay will give businesses more time to adapt.
Help to grow digital scheme scrapped
Businesses have less than two months to apply for the programme.
Bank of England raises base interest rate to 3.5%
MPC votes 6-3 to increase the rate by 0.5%.
Inflation rate drops slightly in November
The annual inflation rate reduced by 0.4% in the past month.
HMRC urges taxpayers to file returns before Christmas
Submitting self-assessments early will avoid late penalties.
Economic outlook bleak despite 0.5% rise in GDP
Recession looms as the economy shrinks in the three months to October.
New VAT penalty regime starts from 1 January
Default surcharge to be replaced by a fixed rate, points based system.
Government sets out overhaul of banking rules
The package of over 30 reforms will “cut red tape” and “turbocharge growth”.
Registration criteria updated for MTD ITSA
Both individual taxpayers and agents will be affected.
SMEs owed £23.4bn in late payments
A Government review into outstanding invoices to be launched.
One in four of small firms fear closure.
Businesses fear closure if energy relief ends in Spring 2023.
Energy price cap removes risk for one in four businesses
Government urged to extend support for businesses.