Self-employed people are happier, according to a new study

Self-employed people earn more money, work less, and are happier, according to new research published this week.Continue reading→

HMRC publishes list of silliest self-assessment expense claims

A list of some of the silliest expense claims featured in recent self-assessment tax returns has been published by HM Revenue & Customs (HMRC).Continue reading→

Wages up across the board, says study

Key UK regions and industries witnessed standout wage growth in the final three months of 2016, according to new research from online job board CV-Library.

The study, which looked at salary growth across the UK, found that pay in the North West of England grew by 14.2 per cent, while pay in recruitment grew 17.5 per cent compared to the same period the year before.

Wales (6.8 per cent), East Midlands (3.9 per cent) and the North East (3.5 per cent) followed in the regions of highest growth.

Likewise, the legal (8.7 per cent), hospitality (6.7 per cent), and property (5.7 per cent) sectors all posted an increase in wage growth compared to the year previous.

Lee Biggins, founder and managing director of CV-Library, suggests that “widespread skill shortages” across the UK are pressing businesses to increase salaries.

“Businesses in these cities and sectors have clearly recognised the need to push up salaries ahead of the New Year rush in order to attract new recruits and it is hoped that we will see this strategy pay off in next quarter’s data,” he said.

“2016 was a turbulent year for the economy, but the fact that organisations are showing signs of investing in their current and future workforce is a positive indication for the labour market in 2017. We expect to see job and application figures pick up next quarter, as business and candidate confidence strengthens.”

Small business owners are failing to fully understand tax returns, study reveals

A new study suggests that 31 per cent of small business owners do not know how to correctly submit their tax return, while 27 per cent did not think that they were required to submit one at all.Continue reading→

HMRC compliance teams shift focus to target more SMEs

Compliance teams at HM Revenue & Customs (HMRC) are shifting their focus towards small and medium-sized enterprises (SMEs) – many of which are unprepared for close scrutiny, according to reports.Continue reading→

Retail sales record biggest monthly fall for more than four and a half years

The UK’s retail sector recorded the sharpest fall in sales for more than four and a half years, official figures have revealed.Continue reading→

Only six per cent of self-employed business owners are aware of Making Tax Digital

A new survey of self-employed workers and business owners suggests that only six per cent are aware of the Government’s imminent Making Tax Digital (MTD) project – which will make quarterly digital reporting mandatory for the majority of businesses.Continue reading→

Couples urge Chancellor to reform marriage tax allowance

The Chancellor is floating the possibly of a marriage tax allowance reform after a survey revealed that three times as many people thought it should increase the threshold in which a partner starts paying tax.Continue reading→

50-page report calls upon Government to delay Making Tax Digital

The Government must respond to a 50-page report calling for an immediate delay to Making Tax Digital (MTD), which has been put forward by MPs in the Treasury Committee.Continue reading→

Study sheds light on regional trends in business growth

A new study has revealed the fastest-growing regions across the UK in terms of business activity, employment and economic growth.Continue reading→