Prime Minister Andy Burnham has slashed business rates for pubs, clubs and live music venues in England by 20%.

The reduction will take effect from April 2027 and will save the typical pub an estimated £1,100 next year, according to the government.

Designed to cut costs for working people and communities, the move will benefit nearly 32,000 pubs, clubs and live music venues, the government said.

The changes will be fully funded, including through reviewing reliefs for businesses that do not make a positive contribution to local communities, such as vape shops.

Mr Burnham said: ‘For too long, governments have stood by while cherished venues have disappeared from our local high streets.

‘This government will back the businesses that people want to see in their communities. I said I would protect pubs and local high streets – the beating heart of our communities – and that’s what we will do. What we’re announcing . . . is just the start as we work to bring back hope across the country.’

Responding to the announcement, the Federation of Small Businesses (FSB) said: ‘We are encouraged at the signal from the Prime Minister . . . , instructing his government to plan for a significant increase in Small Business Rate Relief at the heart of the next Budget.’

Internet link: HMRC FSB

The government is stepping up its efforts to reconnect young people with unclaimed savings in Child Trust Funds (CTFs).

Around 6.3 million Child Trust Fund accounts were opened for children born between 1 September 2002 and 2 January 201

More than 750,000 young adults still have unclaimed matured accounts, holding £2,200 on average and totalling over £1.6 billion.

CTFs were introduced to give every child a financial asset at adulthood. However, accounts can go unclaimed for a number of reasons, including difficulty locating them, people forgetting they have them, or a decision to leave the funds invested for the time being.

The government has set up a Child Trust Fund Taskforce, bringing together CTF providers to drive a coordinated effort to increase reunification of accounts.

Members of the Taskforce will include One Family, Coutts, Nationwide, HSBC UK, Pilling, The Coventry (Co-operative), Sheffield Mutual, Unity Mutual, Forester, Healthy Investments and The Share Foundation.

Rachel Blake, Economic Secretary to the Treasury, said:

‘Too many young people are missing out simply because they are not aware of where their CTF is or how to access it.

‘We are acting to fix that by bringing government and industry together – improving coordination and making it easier for people to find and claim what’s rightfully theirs.’

Internet link: HM Treasury

HMRC has urged customers not to ignore Simple Assessment letters for the 2025/26 tax year.

HMRC issues around 1.8 million Simple Assessment letters and stated that people should check the figures in their letter against their own records.

The letters will be sent to those who have tax to pay on income that has not been taxed through Pay As You Earn (PAYE) or Self Assessment.

Individuals may receive a Simple Assessment letter if they owe tax that cannot be collected automatically by HMRC, for example, if:

• there is tax to pay on interest on savings or dividends
• a second income has not been taxed
• tax is due on pension income
• they received more tax-free allowance than they were entitled to
• the tax cannot be collected through a tax code (for example, larger amounts owed, typically £3,000 or more).

Any tax owed should be paid by 31 January 2027, unless a different date is shown.

Myrtle Lloyd, Chief Customer Officer at HMRC, said: ‘If you receive a Simple Assessment letter and have tax to pay, please don’t ignore it. It is quick and easy to pay any tax owed via the HMRC app.

‘If you need extra support or want to find out more, search ‘Simple Assessment’ on GOV.UK.’

Internet link: HMRC

The headline approved mileage rate has increased to 55p per business mile for the first 10,000 miles, with effect from 6 April 2026. For each business mile over 10,000 miles, the approved mileage rate remains at 25p per business mile.

This is part of a government package of measures intended to address rising fuel prices.

Approved mileage rates may provide relief from Income Tax where an employee or a self-employed individual makes business journeys in their own vehicle. Similar rules apply for the purposes of national insurance contributions (NIC).

Separate rates apply for motorcycles and bicycles, and there is also a rate for passenger payments.

No changes have been announced to these rates. However, the government has committed to a review of all rates and has indicated that this will be set out at a future Budget.

In a statement to parliament, Dan Tomlinson, the Exchequer Secretary to the Treasury, said:

‘In March, the government announced a review of mileage rates for employees using their own vehicle for work and the self-employed who use the simplified expenses rates.

In recognition of the pressures facing drivers as a result of the effects of the Iran war, the government is today announcing the first uprating of mileage rates in 15 years, back dated to April, to provide immediate support to both groups.

‘Mileage rates will increase for 2026/27 from 45p to 55p for the first 10,000 miles, and 25p thereafter, with effect from 6 April 2026.

‘This will represent the largest ever increase to these mileage rates, benefitting around two million employees and one million self-employed individuals, saving over £120 a year for a worker doing 6,000 business miles.’

Internet link: Parliament

Government plans to extend the rules requiring some taxpayers to declare ‘uncertain’ tax positions risk creating more uncertainty, compliance burdens and tax disputes according to the CIOT.

The uncertain tax treatment regime currently requires large businesses to flag uncertain interpretations of tax law to HMRC upfront if significant amounts of money are at stake.

The government is proposing to turn it into a much wider transparency regime, reaching beyond large businesses into individuals and trusts, expanding to cover additional taxes and potentially introducing a new, much broader trigger for notification.

The CIOT is warning that the proposed third trigger – where there is more than one ‘credible’ interpretation and HMRC’s view is not known – is too subjective to work effectively in practice.

Lauren Fletcher, CIOT Tax Technical Senior Manager, said:

‘These proposals would expand the uncertain tax treatment rules to more taxpayers, more taxes and a broader set of uncertainties – a potentially significant compliance expansion. But they are unworkable in their current form and need further development before any legislation is brought forward.

‘The government is right to want to reduce the ‘legal interpretation’ tax gap and give taxpayers more certainty. But these proposals risk doing the opposite regarding certainty. A notification regime should provide clarity, not create a fresh layer of uncertainty around whether a taxpayer is required to notify in the first place.’

Internet link: CIOT