Read on for the latest accounting, tax & business news from TidyCloud
IMF criticises government over tax plans
The International Monetary Fund (IMF) warned the UK government against ‘large and untargeted fiscal packages’ following the Mini Budget.
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Chancellor outlines growth measures at Mini Budget
Chancellor Kwasi Kwarteng used the 2022 Mini Budget to announce a series of tax cuts for businesses and individuals.
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Government abandons plan to scrap 45p top rate of income tax
The government has abandoned its plan to abolish the 45% top rate of income tax due to the negative reaction it has received.
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HMRC raises late payment interest from 11 October
HMRC will raise interest rates on tax debt from 11 October following the 0.5% increase in the base rate. The new rate is 4.75%
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Report finds decline in the use of cash is easing
Banking trade body UK Finance has revealed that the rapid decline in the use of cash as a form of payment has eased.
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Mini Budget – What it means for small businesses
Find out how the new Chancellor’s fiscal event or mini budget, will affect you and your business over the coming years.
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TUC urges government to raise NMW ‘immediately’
The Trades Union Congress (TUC) has called on the government to increase the National Minimum Wage (NMW) rates ‘immediately’
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Experts warn inflation could keep rising in 2023
Economic analysts have warned that the rate of inflation could keep rising in 2023 as a result of rising energy prices.
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HMRC releases more details MTD for Income Tax
HMRC has published more details on how Making Tax Digital for Income Tax (MTD for ITSA) will work for buy-to-let landlords and sole traders
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