Uk Government

Analysts from the Resolution Foundation (RF) have shown that the mini-budget put forward under Liz Truss cost the country an estimated £30 billion. It resulted in a doubling of the fiscal hole the Treasury has said Jeremy Hunt will have to fill with this week's expected range of tax rises and

The chancellor, Jeremy Hunt, has announced that the government's fiscal statement will be delayed from October 31 to November 17. The new prime minister, Rishi Sunak, and chancellor agreed on the new date when they will set out a detailed plan to reduce debt and put in place a growth strategy for th

Whisky distillers have cried out against one of the government's fiscal U-turns announced on Monday reversing of the freeze on alcohol duty. Commenting on the reversal of the UK alcohol duty freeze Mark Kent, chief executive of the Scotch Whisky Association, said: “Business can only work on th

The new Chancellor of the Exchequer, Jeremy Hunt, has announced the reversal of most of the tax cuts announced in the preceding chancellor's 'mini-budget'. The measures which were scrapped include:

A group of 10 organisations including MoneySavingExpert and Carnegie UK Trust have called on the government to take action on fraud in an open letter addressed to the prime minister. The letter dated 14 October 2022 reads:

Chancellor Kwasi Kwarteng has called bank chiefs to Downing Street to address issues with mortgages after uncertainty in the mortgage market led rates to soar to a 14-year high of 6%. The increase in rates also triggered a flurry of mortgage agreements being withdrawn by lenders.

Chancellor Kwasi Kwarteng has U-turned on plans to abolish the 45p rate of income tax for higher earners in the UK. The plan to remove the 45p rate, paid by those earning more than £150,000 a year, was announced on September 23 as part of a package of tax cuts planned by the UK Government.

The Chartered Institute of Taxation (CIOT) has responded to the Chancellor’s announcement last week, that the UK basic rate of income tax will be reduced to 19p and the UK additional rate of income tax abolished from April 2023. These changes will not apply to Scotland, where the power to set

The UK government has today published details of the Energy Bill Relief Scheme, which will protect businesses from the worst of the current increases in international energy prices, by providing a discount on wholesale gas and electricity prices. The scheme will apply to energy usage from 1st Octobe

The new UK government has ordered the treasury to audit existing and new anti-obesity policies which were to be introduced next month. The sugar tax, officially known as the Soft Drinks Industry Levy (SDIL), was introduced in 2018 as a measure to deter people from consuming unhealthy drinks high in

Last week's decision to remove Tom Scholar, the Treasury's permanent secretary - on the new government's first day - has been heavily criticised. Kwasi Kwarteng, the new chancellor of the Exchequer, and the Treasury attempted to share the news of the removal of the Treasury's top civil servant

Accountants have given their immediate response to the announcement that Liz Truss is to be the new leader of the Conservative Party and the next Prime Minister, calling for "significant government support" to help people overcome the current financial challenges. Kirsty McGregor, founder of Th

UK banks have made initial claims worth £352mn from the government to cover losses on one of its flagship state-backed Covid-19 loan schemes, after recording default rates as high as 25%.

A House of Commons committee has said that the government should set-up "urgently sets up a cross-departmental taskforce... to respond to the energy price crisis and wider cost-of-living".

A government scheme that reduces the price of leading software will benefit even more firms as eligibility criteria expands to more than 1 million businesses.