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The latest tax, employment, business and economic news affecting firms and individuals alike. Updated each day.

Retirees paying £4bn more tax than previously thought

Change to HMRC calculations reveals figures were underestimated.

SMEs think UK tax system is ‘unfair’

Regulatory changes add administrative cost to firms.

Savers withdraw £25.62bn through pension freedoms

Increasing flexible withdrawals ‘could cause inheritance tax problems’.

Early MTD sign-ups could result in penalties

Businesses urged to prioritise VAT payments.

320,000 people have a ‘side hustle’

Part-time self-employment helps innovation, IPSE says.

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