Latest news and industry insights

In line with the e-invoicing initiative we reported on elsewhere, the Chancellor also outlined broader reforms to modernise HMRC through a Digital Transformation Roadmap, which is expected in Spring 2025.

The Chancellor unveiled a series of announcements last week that could have implications for UK businesses. One of the most relevant for business owners was the government's push for electronic invoicing (e-invoicing).

The Chancellor, Rachel Reeves, gave an important speech at the Labour Party conference last week, in which she appeared to shift tone to speak more positively about the economy.

The government has announced a delay to the start of the Procurement Act 2023, moving the commencement date to February 2025.

Amazon has announced the end of its hybrid work policy, with corporate staff expected to be back in the office five days a week starting in January. Previously, staff had the flexibility to work from home two days a week.

Business Finance Week 2024 will run from 24 September to 2 October and includes a variety of national and regional in-person events and webinars.

As HMRC intensifies its crackdown on National Minimum Wage (NMW) noncompliance, it’s vital to make sure you don’t fall foul of NMW laws. Compliance can have more complexities to it than many assume, and the risks of getting it wrong are significant.

Figures released by the Office of National Statistics last week show that the UK economy showed no growth in July 2024. This is the second month in a row as there was also no growth in June.

The Plan 1 student loan interest rate reduced to 6% (from 6.25%) from 30 August. This rate change applies across the UK with the Department for Education (DfE), the Welsh Government and the Department for the Economy in Northern Ireland (DfE NI) all confirming the change.

Barratt Developments, the UK's largest housebuilder, has reported a significant decline in pre-tax profits, down by three-quarters for the year ending June 2024. This comes as the company completed just 14,000 homes, a sharp decrease from 17,000 the previous year, with forecasts suggesting even lower figures of 13,000 to 13,500 homes for the upcoming year.

Last month, the Home Secretary, Yvette Cooper, announced a significant government crackdown on employers hiring migrants illegally.

A recent report by the British Chambers of Commerce and Tussell has highlighted the ongoing challenges the public sector faces in meeting its procurement targets for small and medium-sized enterprises (SMEs).

The Prime Minister, Sir Keir Starmer, speaking from Downing Street last Tuesday, has said that the budget in October will be “painful” and the government would be making “big asks” of the country.

HM Revenue and Customs (HMRC) have issued a press release debunking some common myths about whether or not someone needs to register to complete a self-assessment tax return.

As a pensioner you were likely dismayed to learn that Winter Fuel Payments are now being restricted to those who are on benefits and Pension Credit. The Winter Fuel Payment is a key benefit to help with increased heating costs during winter that was previously paid to all pensioners. However, with recent changes, the payment is now means-tested and linked to eligibility for Pension Credit.