UK economy to shrink in 2023: IMF

The International Monetary Fund (IMF) has said that UK economy will shrink and perform worse than other advanced economies as the cost of living continues to hit households.

HMRC clarifies its stand on waiting times on self-assessment helpline

Officials working from home are not to blame for long waiting times on HM Revenue and Custom’s self-assessment helpline, the department has said.

UK automakers have issued a warning about an impending 10 per cent customs duty increase for electric cars crossing the Channel. When the UK exited the European Union in early 2021, a last-minute free trade agreement removed tariffs on automobiles.

A Bank of England (BoE) policymaker has noted that the impact of the central bank's measures to control inflation has only just begun to affect households, and the repercussions will become more pronounced in the coming year.

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