Business News Articles

HMRC hitting tax evaders
HM Revenue and Customs (HMRC) has improved its record of clamping down on tax evaders, according to a report by the National Audit Office (NAO). The recent campaign against taxpayers who hid income in offshore accounts resulted in an extra £400m in tax, interest and penalties, the report claimed, meaning that for every £1 HMRC spends in this area it now brings in £1.40. ... more

Firms ‘need trained first-aiders’
The British Red Cross is warning companies that do not have a trained first-aider on their books that they could face legal action in the event of a death. Businesses are currently required by the Health and Safety Executive to provide adequate equipment, facilities and personnel to enable first aid to be given to workers who suffer an injury at work. ... more

Manufacturing prices still rising
The price of goods used in manufacturing products rose at their fastest rate since 1999 in March as a result of higher energy and raw material costs, a survey has revealed. The Chartered Institute of Purchasing and Supply’s input price index rose to 76.3 in March from 72.7, taking the rate of inflation to its highest point since 1995. ... more

Staff waste years in wrong jobs
The average person spends almost five years in jobs that do not make the best use of their skills, according to a poll by the Skills Commission. The research found that millions of years are wasted in this manner, with the average length of time spent in unsuitable positions four years and 10 months. ... more

Nationwide U-turn on house prices
The Nationwide has reversed its prediction that there would be no overall change in house prices at the end of this year and forecast that prices will continue to fall. The building society said prices fell by 0.6% in March, taking the annual increase to 1.1%, the lowest level since March 1996. The figure for the past three months revealed a fall of 1.5%. ... more

One in three chance of recession
The UK faces a one in three chance of going into a recession over the next two years, according to a report by investment bank Lehman Brothers. The report warns that rising mortgage rates will cut the amount of money consumers spend, which could have a detrimental impact on consumer-facing businesses and company spending. ... more

Search on for enterprising regions
Hotspots of enterprise have just a few weeks left to get their entry in for the regional heats of Enterprising Britain 2008. The awards, run by Make Your Mark on behalf of the Department of Business, Enterprise and Regulatory Reform (BERR), seek to recognise the areas where enterprise has helped to transform the social and economic fortunes of their communities. ... more

Terminal 5 beset by problems
The launch of the new Heathrow Terminal 5 has been beset by a succession of problems that saw over 60 flights cancelled in the first two days and passengers forced to sleep overnight at the airport. Many of the problems stemmed from the inability of the baggage systems to cope with the demands placed on it, while there were also reports of airport staff being unable to get through security and... more

Road taxes ‘hit green plans’
Government initiatives to encourage small businesses to use more fuel-efficient company cars will be overshadowed by the burden of additional transport taxes, the Forum of Private Business (FPB) has warned. The rate of VAT on fuel increased by 2p a litre in October last year and while another 2p rise in April 2008 was delayed in the Budget, this was only put off until October. ... more

TV show boost for franchising
The new series of The Apprentice will see a surge in demand for franchising, according to Domino’s Pizza. The franchise company reported sales enquiries rose by 50% when the series was shown last year, peaking the day after episode eight. ... more