Business News

07 Apr 2020

UK economic output reduces to 31% as result of coronavirus lockdown

Research published by the Centre for Economics and Business Research (CEBR) has revealed that UK economic output has reduced to 31% as a result of the coronavirus (COVID-19) lockdown.

07 Apr 2020

Start of new tax year ushers in raft of fiscal changes

The 6 April start of the new tax year saw important fiscal changes come into effect, including the changes to the deadline for sellers of residential property who are liable for capital gains tax (CGT).

06 Apr 2020

Business groups respond to Chancellor's overhaul of business loan measures

Business groups, including the Confederation of British Industry (CBI), the Federation of Small Businesses (FSB) and the British Chambers of Commerce (BCC) have responded to Chancellor Rishi Sunak's overhaul of coronavirus (COVID-19) business loan measures.

06 Apr 2020

Chancellor announces changes to Business Interruption Loan Scheme

On 3 April, Chancellor Rishi Sunak announced changes to the COVID-19 Business Interruption Loan Scheme following criticism that businesses have struggled to access loans.

03 Apr 2020

Majority of UK firms have less than three months' cash reserves

A significant number of UK firms face the prospect of running out of cash within three months, according to a survey carried out by the British Chambers of Commerce (BCC).

03 Apr 2020

Major UK banks will pay no dividends or bonuses this year

The seven largest banks in the UK have agreed to the proposal put forward by the Prudential Regulation Authority (PRA) that they suspend dividends and bonuses until the end of 2020.

02 Apr 2020

Government publishes details on coronavirus grant schemes for small businesses

The government has published details on the COVID-19 support schemes for small businesses and retailers.

02 Apr 2020

CBI finds retail sales propped up by stockpiling in March

The Confederation of British Industry (CBI) has revealed that retail sales during March were propped up by households stockpiling goods.

01 Apr 2020

Directors on PAYE can furlough under job retention scheme

Company directors who receive salaries through Pay as You Earn (PAYE) are eligible for furlough under the government's Coronavirus Job Retention Scheme.

01 Apr 2020

HMRC extends MTD digital links deadline until 2021

HMRC will delay the requirement to implement digital links for Making Tax Digital (MTD) due to the coronavirus (COVID-19) pandemic.

31 Mar 2020

Research suggests two in five individuals worry about debt levels

Research published by insolvency firm R3 has suggested that two in five individuals worry about their debt levels.

31 Mar 2020

Government relaxes insolvency rules during coronavirus pandemic

The government has relaxed the insolvency regulations during the COVID-19 pandemic in order to give restructuring businesses time to continue trading.

30 Mar 2020

HMRC urges businesses using VAT deferral to cancel direct debits

Businesses that have been affected by the COVID-19 pandemic and are seeking to make use of the VAT deferral have been urged to cancel their direct debits 'as soon as they can'.

30 Mar 2020

HMRC publishes guidance on recognising genuine government contact

HMRC has published guidance on recognising genuine contact from the tax authority during the COVID-19 pandemic.

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