The economy

Over 900,000 UK firms ‘at risk of failing by April’

Around 15% of businesses are at “great risk” of imminent closure

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IFS: UK tax system ‘discourages employment’

Employees’ salaries currently attract more in tax than self-employed individuals.

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Firms call for urgent action to reduce unemployment

Unemployment increased to 5% in the three months to November 2020.

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Nine million people increased borrowing in 2020

The proportion of borrowing £1,000 or more increased to 45%.

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HMRC reminds taxpayers of time-to-pay option

Self-assessment taxpayers can spread payments over up to 12 months.

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