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

Extend furlough scheme to summer, warns BCC

Around four million UK workers were furloughed at the end of December.

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.

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