The latest tax, employment, business and economic news affecting firms and individuals alike. Updated each day.

Treasury Committee urges furlough scheme rethink

The coronavirus job retention scheme is due to end in October.

Audit reforms ‘need urgent resolution’

Group calls on the Government to deliver change.

Grants for English firms closed by local lockdowns

Larger businesses will receive £1,500 every three weeks.

HMRC reveals up to £3.5bn furlough claims paid in error

Around £1.75 billion and £3.5 billion could have been wrongly paid out.

HMRC announces changes to VAT on early contract terminations

Most early cancellation fees are liable for VAT.

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