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Top wem.biz News

Job Market Holds Steady
Unemployment · United Kingdom

Job Market Holds Steady

In May, the unemployment rate stood at 6.3%, unchanged from the previous month and 0.1 percentage points lower than the same period last year. Meanwhile, the employed population increased by 2.6% year-on-year.See the Story
Green levies on UK businesses to be cut - Rotherham Taylor Chartered Accountants
Taxes · United Kingdom

Green levies on UK businesses to be cut - Rotherham Taylor Chartered Accountants

The UK Government has confirmed that it will reduce green levies for energy-intensive industries. These cuts aim to drive growth in key sectors, such as manufacturing and clean energy. What are green levies? A green levy is an environmental charge added to energy bills to help fund renewable energy projects and reduce carbon emissions. For many businesses, these levies have driven up energy costs and eroded international competitiveness. What do…See the Story
Mind the (Tax) Gap – Why HMRC May Have SMEs in Its Sights - Rotherham Taylor Chartered Accountants
Economy

Mind the (Tax) Gap – Why HMRC May Have SMEs in Its Sights - Rotherham Taylor Chartered Accountants

The tax gap, the difference between the amount of tax owed and collected, has long been a thorn in HM Revenue and Customs’ (HMRC’s) side. HMRC believe that last year, a total of £46.8 billion of tax was left uncollected, which equates to just over five per cent of the overall tax owed in the country. Once again, SMEs have been identified as the largest contributors to the tax gap and inevitably are once again in the sights of the tax authority. …See the Story

Rising costs force small businesses to increase prices

The majority (74 per cent) of business owners are set to increase their prices in the next 12 months, according to data from our 2025 SME Insights Report. With higher running costs, a tighter tax burden, and uncertain consumer spending all contributing to the difficult decision.  Our SME Insights Report is a deep dive into the UK’s small businesses. It provides an overview of business confidence, their biggest challenges, and what support they n…United Kingdom · United KingdomSee the Story

New powers yield "real-world impact" in Companies House economic crime crackdown

A new report shows the agency's progress in implementing changes brought in by the Economic Crime and Corporate Transparency Act 2023.Software · United KingdomSee the Story

Surge in Employee Ownership as Business Owners Seek Tax-Efficient Exits – Your Capital Minds

A growing number of business owners are turning to employee ownership trusts (EOTs) to sell their companies tax-free, as changes to capital gains tax (CGT) rules and rising national insurance costs prompt entrepreneurs to seek more efficient exit strategies. New figures reveal that applications to set up EOTs — the model famously used by John Lewis — jumped 40 per cent last year, from 474 in 2022/23 to 671 in 2023/24. The data, obtained by accou…Entrepreneurs · United KingdomSee the Story

How Will the 2025 Spending Review Be Funded?

On 11 June 2025, the Spending Review revealed plans to increase day-to-day spending from £517.5 billion in 2025/26 to £583.9 billion in 2028/29 and investment spending from £131.3 billion in 2025/26 to £151.9 billion in 2029/30. Both the NHS and the Ministry of Defence are set to be the biggest beneficiaries of this investment, which is great news for those working on those sectors. Refurbishing schools, boosting R&D, and building new housing ar…NHS · United KingdomSee the Story

Call to Review NICs Hike as More Than 100,000 Jobs Are Lost

UKHospitality has called for changes to employer NICs to be reviewed in the wake of a dramatic fall in the number of payrolled employees. The Labour Market Overview, published by the ONS, estimates the number of payrolled employees in the UK in May 2025 decreased by 109,000 compared to the month before. This loss of jobs exceeds predictions from both the Office for Budget Responsibility (OBR) and a major bank. The OBR originally predicted the ch…Rachel Reeves · United KingdomSee the Story

Jobs 'not entitled' to National Minimum Wage - from directors to apprentices

Coverage: 2 sources
UK citizens are advised to use the Government's minimum wage calculator to verify if they are earning the National Minimum WageMinimum Wage · United KingdomSee the Story

Mandatory Payrolling of Benefits in Kind Delayed by HMRC - Rotherham Taylor Chartered Accountants

100% Center coverage: 1 sources
The delay to payrolling Benefits in Kind (BIK) to 2027 may seem like a cause of relief for many businesses who are concerned about the extra responsibility the changes will bring, but employers should still prepare for this landmark change. Rather than filing an annual P11D form, the changes to payrolling BIK will force businesses to complete additional admin every month. Though the 2027 deadline may seem far off, it is worth preparing now, as t…Taxes · United KingdomSee the Story

Kittel VAT: How to Control the Uncontrollable - Rotherham Taylor Chartered Accountants

Receiving a Kittel VAT notice is something that many businesses dread. HM Revenue and Customs (HMRC) can demand the repayment of tax already reclaimed, and this can sometimes amount to a significant amount of money. The notice comes when a trader “knew or should have known” their transaction was linked to fraudulent evasion of VAT. This makes it ineligible for a deduction of input tax. Kittel VAT can seem like an ever-present threat hanging over…United Kingdom · United KingdomSee the Story

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