Inflation slows more sharply than forecast

The UK inflation rate fell to 2.1% in the 12 months to July as the economy continued to reopen from COVID-19 restrictions, lower than previously forecasted. The measure of inflation is down from 2.4% in the 12 months to June, the highest level for nearly three years,...

UK house prices fall by 0.3%

Monthly average residential property prices fell by £1,076 (0.3%) in August 2021, the first month prices have dropped this year, data published by property website Rightmove reveals. While the value of first-time buyers' properties increased by £1,328 (0.6%) and...

UK economy grows as COVID-19 restrictions ease

UK gross domestic product (GDP) is estimated to have increased by 4.8% between April and June 2021 as trading restrictions were eased in the spring months. The latest figures from the Office for National Statistics (ONS) also show that GDP increased across all three...

Startups outstrip business closures in 2021

More startups were created in the first six months of 2021, compared to the number of businesses that closed over the same period. Between April and June 2021, 105,455 businesses closed, compared to the 73,580 that closed during the same period in 2020. The ONS said...

MTD for ITSA may come a year earlier

Many self-employed individuals may have to conform with Making Tax Digital for income tax self-assessment (MTD for ITSA) a year earlier than planned. Many unincorporated businesses were planning for the changes to apply from accounting periods that start on or after 6...