HMRC has blocked thousands of furlough applications for the government’s Coronavirus Job Retention Scheme (CJRS) due to fears they are fraudulent. More than 30,000 CJRS applications have been rejected by HMRC, according to reports. At the end of June, 1,526 CJRS claims were rejected because the companies applying had ceased trading. An additional 23,899 applications […]

Chancellor Rishi Sunak has asked the Office of Tax Simplification (OTS) to carry out a thorough review of capital gains tax (CGT). In a letter to the OTS, the Chancellor requested that the independent office review capital gains tax and aspects of the taxation of chargeable gains in regard to individuals and small businesses. Mr […]

Financial regulators have requested a moratorium on corporate financial reports for at least two weeks. The Financial Conduct Authority (FCA) is in talks with the Financial Reporting Council (FRC) and the Prudential Regulation Authority (PRA) about a package of measures to reinforce trust in the reporting system. These will be aimed at ensuring companies and […]

Government public spending will increase to over £1 trillion a year by 2023/24, the Resolution Foundation has predicted. More so, It would be the first time in history that UK government public rises above the £1 trillion barrier, according to the think tank’s report. The analysis compiled ahead of the 11 March Budget. Forecasts that […]

The CBI is asking the Government to do as it has previously promised and urgently consult businesses about the Apprenticeship Levy’s future. According to a new Confederation of British Industry (CBI) report, ‘Learning on the job: Improving the Apprenticeship Levy’, urgent steps must be taken by Government to reform the Apprenticeship Levy in England, so firms […]

New passport validity rules will apply for travel to most European countries in a no-deal Brexit. Government is urging passport holders who may be affected to renew their passports ahead of 31 October. You may wish to pass on the following information from the Home Office and HM Passport on to your colleagues, employees, family and friends. […]

Almost 10% of UK employees are not receiving payslips, while one in 20 are missing out on their legal holiday entitlement, according to think tank the Resolution Foundation. The Resolution Foundation’s analysis into UK labour market violations has been released to mark a three-year study into enforcement. Last year, HMRC identified a record 200,000 cases […]

Department for Work and Pensions (DWP) celebrate figures that show that the number of people in work is up 369,000 on last year.   Minister for Employment, Mims Davies said: “Wages are consistently rising faster than inflation – now for over a year and a half – meaning we’re seeing a sustained boost in pay, […]

The Institute of Chartered Accountants in England and Wales (ICAEW) has called for a more flexible Apprenticeship Levy to benefit school leavers. The Institute says that UK SMEs are in danger of missing out on young talent if the levy is not reformed. The government introduced the apprenticeship levy in 2017 to help fund the […]