News Latest News for Business Click on a headline to read the full story.Archive NewsClick here to access our full archive 06 Feb 2024Government borrowing falls as Chancellor hints at tax cuts in Spring BudgetGovernment borrowing fell to £7.8 billion in December 2023 giving Chancellor Jeremy Hunt more scope to make the tax cuts he has hinted at in the Spring Budget. 06 Feb 2024Tax cuts may have to be scrapped due to 'economic bind', warns IFSTax cut promises may need to be scrapped as a result of the UK being in an 'unfortunate economic and fiscal bind', the Institute for Fiscal Studies (IFS) has warned. 06 Feb 2024HMRC sends warning to cryptoasset usersAs the use of cryptoassets continues to grow HMRC is warning people to check if they need to complete a self assessment tax return for the 2022/23 tax year to avoid potential penalties. 06 Feb 2024Raise VAT threshold to £100,000, says FSBThe government should raise the turnover threshold for VAT from £85,000 to £100,000, according to the Federation of Small Businesses (FSB). 06 Feb 2024Clarity on new border checks is vital, says BCCThe government must clarify plans around new customs processes as firms remain in the dark about crucial aspects of their operation, says the British Chambers of Commerce (BCC). 06 Feb 2024Artificial Intelligence will affect jobs and worsen inequality, says IMFArtificial intelligence (AI) will affect almost 40% of all jobs around the world and deepen inequality, the International Monetary Fund (IMF) has warned. 06 Feb 2024Over 50s bucking decline in freelance numbersTens of thousands more over 50s are now running their own businesses despite an overall decline in self-employment since 2020, according to the Association of Independent Professionals and the Self-Employed (IPSE). 06 Feb 2024Only a third of UK adults confident with self assessmentJust 35% of UK adults are confident they could complete the self assessment tax return form correctly, according to research by Standard Life.