Warning comes amid hints of interest rate rises.
Current Affairs
HMRC recognises that R&D system needs improvements
CIOT remains concerned about HMRC’s ‘volume approach’ to claims.
Business closures to hit 28,000 in 2024
Rising interest rates adding pressure to finances.
ONS revises its findings and says economy actually grew in 2021
ONS previously said the economy declined by 1.2% in 2021.
HMRC reopens self-assessment helpline
Helpline closed since 12 June.
LITRG: check for child benefit tax trap
Warning comes after Tribunal decisions.
Concerns arise around cost of bottle recycling scheme
£1.8bn scheme designed to incentivise recycling.
ICAS calls for rise in Scottish £500k charity audit threshold
Demand for Scottish auditors outpacing supply, ICAS says.
Employers ramp up counter-offers to retain staff
Number of counter-offers increase by 51% in last 12 months.
Four in ten experienced scam attempt in the last year
Average loss of funds was £4,715 per person.
Corporate insolvencies down 6% in July
Insolvencies remain higher than pre-pandemic levels.
Inflation falls to 6.8% in July
Flights and hotels keep prices high.
Govt. to reform personal insolvency framework
Policy will align framework with ‘the needs of 21st century stakeholders’.
Economy grows by 0.2% in second quarter
Information and accommodation industries fuel growth.
UK rental market shrinks by 400,000 homes
Estimated 126,500 rental properties sold since 2022.
Importers alter supply chains due to geopolitics
Importers particularly concerned about relations with China.
Accounting groups express concern about tax digitalisation plan
Making Tax Digital is delayed until 2026.
Retail trading conditions remain weak
July sees sharp decline in retail sales volumes.
Corporate insolvencies hit a 14-year high
Insolvency Service reports an 8.9% increase on the previous quarter.
NatWest profits rocket to £3.6bn after resignations
The part taxpayer-owned bank’s profits are higher than expected.
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