Business News

£235 billion 'cash mountain' sitting in bank accounts with low interest rates

£235 billion of cash is sitting in low interest bank accounts with rates of under 1%, according to the Bank of England.

New research reveals 'significant shift in businesses' infrastructure priorities'

Research carried out by the Institute of Directors (IoD) has revealed that business leaders' infrastructure priorities have 'shifted' compared with the situation at the start of the current parliamentary term.

Taxpayers spend total of 800 years waiting to speak to HMRC

UK taxpayers spent the equivalent of 800 years on hold to HMRC in 2022/23, according to a report published by the National Audit Office (NAO).

UK lagging behind in global green growth race

The UK is falling behind its international competitors in the race for green growth, the Confederation of British Industry (CBI) has warned.

HMRC to receive extra £51 million in phone funding

The government has announced an extra £51 million in new funding to bring HMRC's phoneline service back up to the published target of 85% of calls to its advisers being answered.

Retirees report £119,000 shortfall in pension savings

UK adults face a significant shortfall in their pension savings at retirement compared to what they wanted to retire on, according to research from Standard Life.

UK economy exits recession as interest rates held

The UK economy grew by 0.6% between January and March, according to figures from the Office for National Statistics (ONS).

300,000 file tax returns in the first week of the tax year

Almost 300,000 self assessment taxpayers filed their return in the first week of the new tax year, HMRC has revealed.

HMRC error means self-employed workers could lose out on state pension

An HMRC error could mean that some low-income, self-employed workers lose out on their entitlement to National Insurance-related benefits like the state pension, warns the Low Incomes Tax Reform Group (LITRG).

New customs rules cause confusion and uncertainty

The new customs checks and charges that came into force on 1 May are causing confusion and uncertainty for business, warns the British Chambers of Commerce (BCC).

UK economy will see slowest growth in G7 next year

The UK will see the slowest growth of the G7 nations next year, the Organisation for Economic Co-operation and Development (OECD) has warned.

Business leaders' economic confidence rose in April, data shows

Optimism amongst UK business leaders in regard to the UK economy rose in April 2024, data published by the Institute of Directors (IoD) has revealed.

Business group 'concerned' over impact of new customs charges on small firms

The British Chambers of Commerce (BCC) is concerned over the impact of new customs checks and charges on small firms in the UK.

HMRC launches online voluntary national insurance payment service

HMRC has launched a new online voluntary national insurance payment service.

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