Business News

The latest Business and Finance news making the headlines in the UK

Tax gap up to more than £59 billion

The tax gap rose to a record high of £59.2 billion in cash terms for 2024/25, according to the latest data from HMRC.

Brexit burden must be cut, says BCC

The UK government must set out a clear plan to ease the burdens that Brexit has placed on business, says the British Chambers of Commerce (BCC).

More than 100,000 taxpayers yet to register for MTD

Analysis carried out by the Low Incomes Tax Reform Group (LITRG) has suggested that just over half of 216,000 unrepresented taxpayers who must register for Making Tax Digital (MTD) from April 2026 have still not done so.

HMRC urged to understand scale of pension tax relief errors

The Low Incomes Tax Reform Group (LITRG) has urged HMRC to establish the scale of pension tax relief errors that employers make.

Tax system doesn't support entrepreneurs, MPs warn

Over 90 MPs have warned Chancellor Rachel Reeves that the UK tax system doesn't support Britain's entrepreneurs.

Financial losses from scams hit £1.3 billion a year

Cases of fraud in the UK have surged, with almost £1.3 billion stolen by scammers in 2025, according to UK Finance.

UK inflation rate remains at 2.8%

The UK's inflation rate remains at 2.8% in the year to May, according to the latest data from the Office for National Statistics (ONS).

Expansion of 'uncertain tax treatment' rules cause for concern

Government plans to extend the rules requiring some taxpayers to declare 'uncertain' tax positions risk creating more compliance burdens and tax disputes according to the Chartered Institute of Taxation (CIOT).

Pension saving plummets when employees move into self-employment

More than three-quarters of employees who consistently saved into a pension stop doing so when they move into self-employment, according to research from the Institute for Fiscal Studies (IFS).

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