Industry News

Government urges small businesses to utilise broadband vouchers

The government is urging small businesses to make use of so-called ‘broadband vouchers’, which are worth £2,500. The Gigabit Broadband Voucher Scheme helps small firms in covering the cost of installing a full fibre, gigabit-capable connection. The government intended for the scheme to run until March 2021, but ‘high demand’ for the vouchers means that […]


Statistics reveal ‘sugar tax’ has generated £153 million for HMRC

Data has revealed that the Soft Drinks Industry Levy generated £153.8 million for HMRC in the year-to-date, up to the end of October. First announced in the 2016 Budget, the Levy came into effect from April 2018. It was introduced as part of a package of measures designed to combat childhood obesity. The Soft Drinks […]


Prime Minister establishes five ‘Brexit business councils’

Prime Minister Theresa May has created five new ‘Brexit business councils’, which will provide UK firms with advice and support in regard to creating the ‘best business conditions’ post-Brexit. According to the government, each council will meet three times per year in order to supply ‘high-level advice’ on issues surrounding Brexit and business. Each council […]


Government unveils changes to probate fees

The government has unveiled significant changes to probate fees, which could result in owners of high-value properties paying nearly £6,000 more. As part of the government’s plans, from April 2019 a banded system of probate fees will be introduced for estates with a value above £50,000. The government stated that, by increasing the estate value […]


Committee launches inquiry into banks’ treatment of vulnerable customers

The Treasury Committee has launched a new inquiry into whether UK banks are doing enough to help vulnerable customers. As part of the inquiry, the Committee will examine whether vulnerable individuals are being overcharged for insurance. A report published recently by Citizens Advice suggested that some individuals are losing as much as £877 a year […]


HMRC delays reform of late payment penalty regime

HMRC has further delayed the planned reform of the late payment penalty regime. HMRC planned to introduce the new penalty regime alongside Making Tax Digital (MTD) for income tax in April 2018, but the Revenue subsequently pushed its introduction back when MTD for income tax was deferred to April 2020. Within the Overview of Tax […]


UK late payment culture ‘showing signs of improvement’, research reveals

The so-called late payment culture in the UK is ‘showing signs of improvement’, according to research carried out by invoicing solutions firm Tungsten Network. The research revealed that the average time taken to pay suppliers has improved by 14% since 2016. UK firms now pay their suppliers ‘ten days quicker than the European average’, Tungsten […]