TAX HMRC consultation draws tax gap warning City AM Blick Rothenberg has raised concerns over HMRC's consultation on tax rules for small businesses, warning that it will not effectively close the tax gap. The 12-week consultation is looking at plans to mandate...

OUTLOOK More firms in 'critical distress' as costs climb Daily Mail The Independent Research from BTG reveals a 36.9% increase in UK businesses facing "critical financial distress," with the total hitting 62,193 in Q1. The latest quarterly red flag report also notes a...

ECONOMY Think-tank: UK faces £35bn economic hit The Guardian The Daily Telegraph The Independent The UK economy could suffer a £35bn hit and face recession risks due to the Iran war, according to the National Institute of Economic and Social Research (NIESR). The...

TAX UK wealth tax would backfire, warns IFS Financial Times The Daily Telegraph City AM After a six-year inquiry into the UK's social and economic disparities, the Institute for Fiscal Studies has concluded that an annual wealth tax is not the answer to inequality....

TAX Trump threatens tariffs over UK tax City AM The Independent UK US President Donald Trump has warned of potential tariffs on the UK if it does not abolish its digital services tax. Speaking from the Oval Office, he stated that the US could easily retaliate by...

TAX Thousands of offices at risk of closure from tax hikes The Daily Telegraph Nearly 90,000 serviced office spaces across England and Wales could be exposed to as much as £1.5bn in backdated tax bills, the Telegraph reports. Labour’s changes to how business rates are...

TAX HMRC spends £186m recovering £44m in loan charge tax The Daily Telegraph HMRC has spent £186m to recover only £44m from its loan charge initiative, according to recent figures. Approximately 50,000 workers engaged in disguised remuneration schemes, believing they...

TAX Rigby recognises importance of tax for UK listings City AM Lucy Rigby, economic secretary to the Treasury, has acknowledged the importance of the tax regime for attracting fintech listings in the UK. During the Innovate Finance Global Fintech Summit, she...

OUTLOOK Consumer optimism slides Reuters The Daily Telegraph S&P Global says its consumer sentiment index has fallen ⁠to 42.3 from 44.1, with confidence over their financial wellbeing at its lowest level since July 2023. The report, which involved a survey of...

TAX Tax burden climbs and could pass 40% of GDP The Sunday Telegraph Britain is heading for one of the sharpest tax rises among advanced economies, with the International Monetary Fund forecasting that Government tax revenues will exceed 42% of GDP by the start of the...