Tax gap hits £36bn in 2021/22
Small businesses responsible for half the tax gap.
BoE increases interest rates to 5%
Base rate rises by more than expected.
Inflation remains the same in May
Falling fuel prices offset by recreation and culture costs.
Outcry as HMRC closes self-assessment helpline
Helpline will reopen in Autumn.
MTD set to cost five times its original budget
Tax experts claim MTD is 'out of control'.
HMRC “underestimated” the complexity of MTD
Issues with migrating data delayed the scheme.
Insolvencies increase by 51% in May
2,552 companies registered as insolvent last month.
Tax system “overcomplicated”, say MPs
Current tax system is an obstacle to growth.
Charities gain more financial freedom
Charities Act changes give trustees greater flexibility.
HMRC extends voluntary NIC deadline
Taxpayers have two extra years to fill records.
HMRC launches VAT time-to-pay portal
Eligible businesses can set up payment plans online.
Making Tax Digital said to cost £1.3bn
The original 2020 launch date was “unviable”.