Self-assessment threshold increases to £150,000

Fewer PAYE taxpayers will submit returns in 2023/24.

Inflation falls to 8.7% in April

Food prices remain at “near historic highs”.

UK economy will “avoid recession”

IMF upgrades its growth forecast.

Government launches CIS consultation

Government aims to simplify payments under the scheme.

VAT registration helpline closed

HMRC will focus efforts on registration applications.

Late payment interest rate rises to 7%

Interest has doubled since May 2022.

HMRC plans to simplify construction industry scheme

The scheme may be causing “unnecessary” administrative burdens.

One in five taxpayers will pay higher tax rate

Threshold freezes could see 7.8 million pay 40%.

VAT registration helpline set to close

HMRC will prioritise registration applications.

Company insolvencies fall in April

Figures remain higher than pre-pandemic levels.

Retail sales grow steadily in April

Retailers hope sales will improve over the summer.

Economy fell by 0.3% in March

GDP grew slightly in Q1 of 2023.

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