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The economy

1.8 million taxpayers still to file self-assessment returns

Over 10.7 million people submitted their 2019/20 return by the deadline.

Get ready for the VAT reverse charge

New rules set to take effect for construction from 1 March 2021.

Spring Budget 2021: what will it include?

Will Chancellor Rishi Sunak raise taxes or maintain the status quo?

CBI calls for post-lockdown roadmap

The business group identified six elements to help firms prepare.

Over 900,000 UK firms ‘at risk of failing by April’

Around 15% of businesses are at “great risk” of imminent closure

IFS: UK tax system ‘discourages employment’

Employees’ salaries currently attract more in tax than self-employed individuals.

Firms call for urgent action to reduce unemployment

Unemployment increased to 5% in the three months to November 2020.

HMRC waives penalties for late-filed tax returns

Fines to kick in after 28 February 2021.

Nine million people increased borrowing in 2020

The proportion of borrowing £1,000 or more increased to 45%.

Big businesses to reduce payment times to small suppliers

50,000 small firms close every year due to late payments.