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

Nine million people increased borrowing in 2020

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

Millions to face fines if self-assessment tax return deadline missed

Taxpayers could face fines totalling to £250 million.

Big businesses to reduce payment times to small suppliers

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

Govt. reveals over 1.4m loans given to UK firms

The loans are part of the £280bn support package.

Small firms get COVID-19 insurance boost

Around £1.8bn is expected to be paid out in claims.

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