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Chancellor addresses House of Commons with a pledge to ‘restore economic stability’ after revealing £22 billion of unfunded pressures inherited from the previous Government.

The government has today announced it will repeal the Strikes Act 2023 to get public services back on track and strengthen the rights of working people.

HMRC targets non-payers of high income child benefit charge with letters to accountants saying mistakes on tax returns submitted by £50k plus earners – #HMRC has been cross-referencing child benefit claims

Economic uncertainty creates financial reporting risks, warns FRC as flags issues with impairment and cash flow reporting – 10% of companies reviewed in annual review needed to restate accounts

HMRC clarifies tax on home charging of purely electric company cars – costs of charging now treated as a tax-free benefit and guidance has been updated

Business insolvencies rise 17% on last year – worst hit sectors construction, manufacturing and retail industries, reflecting impact of higher interest rates and a sharp drop in residential house building

HMRC bulks up compliance division – In the past year alone, HMRC has increased the number of its compliance staff by over 3,000 as it looks to reverse a sharp decline in tax revenue, according to Price Bailey

Ex-MP loses appeal against prison sentence – A former MP who was jailed after trying to claim £52,000 of parliamentary expenses through a fictitious autism charity has lost a Court of Appeal bid to challenge his sentence

Dual recognition for UK and New Zealand auditors – ‘ensures a more efficient pathway for senior auditors to work in both countries, boosting access to a wider pool of auditors, while upholding high professional standards

Collapsed high street retailer Wilko had outstanding tax bill of £25.75m when it went into administration in August – HMRC named as a secondary preferential creditor