This section contains the latest business news stories.

Chancellor announces windfall tax on energy firms

27 May 2022

Chancellor Rishi Sunak will impose a windfall tax on energy firms alongside a package to help households with the cost-of-living crisis.

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Statistics reveal more than 500,000 families used Tax-Free Childcare in past year

26 May 2022

New data published by HMRC has revealed that 512,415 families made use of the Tax-Free Childcare (TFC) scheme in the past year.

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Energy price cap set to rise to £2,800 in October

25 May 2022

The energy price cap is now expected to rise to around £2,800 in October, according to the UK's energy regulator.

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Government 'refuses to rule out windfall tax' on oil and gas companies

24 May 2022

A Treasury minister has stated that the government 'cannot rule out' a windfall tax on gas and oil companies in order to help with the cost-of-living crisis.

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Ofgem proposals aim to avoid price shocks on energy bills

23 May 2022

Household energy bills could change every three months under new plans proposed by the energy regulator Ofgem.

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CBI chief calls for cost-of-living help for people on lower incomes

20 May 2022

The government should immediately support those hardest hit by the cost-of living crisis, according to the Confederation of British Industry (CBI).

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HMRC issues £14 million in penalties for minimum wage offences

19 May 2022

HMRC issued 580 penalties totalling over £14 million for minimum wage offences during 2020/21, according to a report released by the Department for Business, Energy and Industrial Strategy (BEIS).

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Inflation hits 40-year high of 9%

18 May 2022

Inflation has hit its highest level in 40 years amid the deteriorating cost-of-living crisis, according to the latest figures from the Office for National Statistics (ONS).

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Charity warns lowest income households will wait longest for council tax rebate

17 May 2022

National Energy Action (NEA) has warned that the poorest households in the UK will wait the longest for the government's £150 council tax rebate.

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Almost 66,500 filed self assessment returns on 6 April

16 May 2022

Nearly 66,500 taxpayers filed their 2021/22 self assessment return on the first day of the new tax year, according to figures from HMRC.

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Pension regulator running spot checks on UK employers

13 May 2022

Employers suspected of failing to meet their workplace pensions duties are being targeted with spot check inspections by the Pensions Regulator (TPR).

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Inflation takes its toll as UK economy contracts in March

12 May 2022

The UK economy contracted by 0.1% in March as surging inflation took a toll on demand, according to the latest figures from the Office for National Statistics (ONS).

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New law to protect access to cash announced in Queen's Speech

11 May 2022

New laws to protect access to cash and help victims of financial scams were announced in the Queen's Speech at the state opening of parliament on 10 May.

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Shoppers slow spending as consumer confidence dips

10 May 2022

The soaring cost of living has seen consumers slowdown spending, according to the latest retail monitoring report from BRC-KPMG.

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