Business News

This section contains the latest business news stories.

12 Aug 2020

UK economy falls into recession for first time in 11 years

Lockdown measures introduced as a result of the coronavirus (COVID-19) pandemic have pushed the UK economy into recession, data published by the Office for National Statistics (ONS) has revealed.

11 Aug 2020

Government coronavirus schemes 'failing to provide support', BCC finds

The coronavirus (COVID-19) schemes announced in Chancellor Rishi Sunak's Summer Economic Update are failing to provide the support businesses need, according to the Coronavirus Business Tracker published by the British Chambers of Commerce (BCC).

10 Aug 2020

Bounce Back loans average 87,000 approvals a week since launch

Lenders have approved an average of 87,000 Bounce Back loans every week since the scheme was launched on 4 May, according to the latest figures from the Treasury.

07 Aug 2020

Government further extends Tax-Free Childcare scheme as result of coronavirus

The government has further extended Tax-Free Childcare (TFC) to 31 October 2020 for parents who may have fallen below the minimum income requirement as a result of the coronavirus (COVID-19) pandemic.

07 Aug 2020

ICAEW warns taxpayers have 90 days to notify HMRC of overclaimed COVID-19 grants

The Institute of Chartered Accountants in England and Wales (ICAEW) has warned taxpayers that they have 90 days to notify HMRC of overclaimed coronavirus (COVID-19) grants.

06 Aug 2020

Ensure interaction between VAT and Eat Out to Help Out is understood, ICAEW urges

The Institute of Chartered Accountants in England and Wales (ICAEW) has urged businesses to ensure that they understand the interaction between VAT and the government's Eat Out to Help Out scheme.

06 Aug 2020

Bank of England holds rates as economy set for record slump

The Bank of England (BoE) left interest rates unchanged at 0.1% as it predicted a record slump for the UK economy due to the coronavirus (COVID-19) pandemic.

05 Aug 2020

HMRC publishes guidance on claiming Job Retention Bonus

HMRC recently published guidance on the eligibility requirements for the Job Retention Bonus.

05 Aug 2020

SME manufacturing activity plummets, says CBI

SME manufacturing output volumes fell at the fastest rate on record, according to the latest quarterly Confederation of British Industry (CBI) SME Trends Survey.

04 Aug 2020

FSB calls for further help for employers as furlough wind-down begins

The Federation of Small Businesses (FSB) has called for the government to provide further help to employers as the Coronavirus Job Retention Scheme (CJRS) begins to be wound down.

04 Aug 2020

Data reveals significant decrease in inheritance tax receipts

Data published recently by HMRC has revealed that there has been a significant drop in inheritance tax (IHT) receipts.

03 Aug 2020

More firms to benefit from CBILS following changes to loan rules

Changes to state aid rules mean that more small businesses can benefit from the government's Coronavirus Business Interruption Loan Scheme (CBILS).

03 Aug 2020

HMRC sets up scheme for loan charge refunds

HMRC has published details on its refund scheme for taxpayers who made voluntary payments of income tax or national insurance prior to a change in the rules regarding the loan charge.

31 Jul 2020

Mixed picture for retail sector, CBI finds

Retail sales were broadly flat in the year to July despite three months of sharp declines, according to the monthly Distributive Trades Survey published by the Confederation of British Industry (CBI).

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