Read on for the latest accounting, tax & business news from TidyCloud
UK government launches Industrial Strategy
The UK government is aiming to slash energy prices, unlock investment and upskill the workforce in its Industrial Strategy.
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Tax gap estimated at 5.3%
The tax gap estimate was 5.3% for the 2023/24 tax year, according to the latest data from HMRC. The tax gap is the difference between what tax is expected to be paid and actually paid.
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Advisory fuel rates for company cars (June 2025)
New company car advisory fuel rates have been published and took effect from 1 June 2025.
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Government introduces Pension Schemes Bill
The government has introduced the Pension Schemes Bill, which it says will make pensions easier to understand and manage.
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Almost half of sole traders unprepared for MTD changes
Almost half of UK sole traders feel unprepared for upcoming Making Tax Digital (MTD) for Income Tax changes, according to research conducted by IRIS Software.
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Parents of teens reminded to extend Child Benefit claim online
Parents of 16 to 19-year-olds will receive reminders from HMRC to extend their Child Benefit claim by 31 August if their child is staying in education or training or payments will automatically stop.
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Tax and accounting bodies back e-invoicing adoption
The UK’s professional tax and accounting bodies have backed the adoption of e-invoicing in their responses to a government consultation.
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One in four employers plan to make redundancies in next quarter
The number of employers expecting to increase staff numbers in the next three months has fallen to a record low outside of the pandemic.
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Price rises most likely response to US tariffs
Price increases are the most likely response to US tariffs by affected firms, according to a survey conducted by the British Chambers of Commerce (BCC).
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