Inflation remains the same in May

Annual inflation remained at 8.7% in May - the same as in April - according to latest statistics from the Office for National Statistics (ONS). Rising prices for air travel, second-hand vehicles and video games contributed to the unexpected inflation rate. However,...

Ministers must support HMRC, says CIOT

The newly-appointed president of the Chartered Institute of Taxation (CIOT) is urging ministers to fully resource HMRC to improve service levels to taxpayers and advisers. Gary Ashford suggested during his inaugural speech as president that HMRC staff levels are too...

Nearly 800 mortgage deals withdrawn

Lenders have withdrawn nearly 800 fixed-rate mortgage deals over the last week, according to new data from financial experts Moneyfacts. The data shows that lenders are more cautious to offer mortgages due to uncertainty over future interest hikes. Despite inflation...

Access to finance limited for SMEs

Various factors are limiting SMEs' access to funding, according to the Institute of Chartered Accountants in England and Wales (ICAEW). While funding is a "key determinant for growth" for SMEs, low awareness of finance options among business owners and poor economic...