Low earners will benefit from plans introduced in a raft of tax changes to help them boost their savings.

The Government has published 23 technical tax updates, many of which simplify and modernise the tax system.

Among the changes is a reform to the Help to Save scheme, introduced for working people on low incomes who are claiming certain benefits.

There will be changes to how its bonus is calculated, the length of time an account can be open for and eligibility requirements, all with the aim of enhancing long-term savings habits.

Help to Save was launched in 2018 and allows certain people entitled to Working Tax Credit or receiving Universal Credit to get a bonus of 50p for every £1 they save. Accounts can be open for a maximum of four years and savers can put a maximum of £50 into their accounts every month.

Since the scheme began more than £255 million has been saved through it and the Government wants to encourage more people to open accounts.

Victoria Atkins, Financial Secretary to the Treasury, said: “Rising prices are putting household budgets under strain – and it’s in tough times like these that many people turn to their savings.

“We want to support savers and make sure the tax system provides them with the options they need to shore up their finances, helping them through rainy days as well as helping them plan for the future.

“A simpler tax system will also help deliver on the Prime Minister’s priorities of creating economic growth and reducing our country’s debt.”

The Government also wants to address the fact that some parents who have not claimed Child Benefit could miss out on building their state pension. Those affected will in future be able to claim National Insurance credit retrospectively as ministers move to tackle this issue.

When parents claim Child Benefit, they can also receive a National Insurance credit which helps them build their State Pension. This is aimed at those who, due to caring responsibilities, are out of work or not earning enough to pay National Insurance, to ensure they are still able to do that.

Parents do not need to take any action immediately. The Government intends to legislate to allow eligible individuals to retrospectively claim National Insurance credit, and the next steps to be taken will be published in due course.

Since the closure of the Office for Tax Simplification the government has committed to putting simplification at the heart of all tax policy making.

If you need help to find out what you are eligible for, talk to us.

Millions of hospitality workers can look forward to seeing extra pounds in their pockets with the passing of a new Tipping Bill.

More than two million workers will have their tips protected and be able to view an employer’s tipping record.

An estimated £200 million a year will go to staff as they retain the tips that would have otherwise been deducted.

Business and Trade Minister Kevin Hollinrake said: “As people face rising living costs, it is not right for employers to withhold tips from their hard-working employees.

“Whether you are pulling pints or delivering a pizza, this new law will ensure that staff receive a fair day’s pay for a fair day’s work – and it means customers can be confident their money is going to those who deserve it.”

Many hospitality workers rely on tips to top up their pay and are often left powerless if businesses don’t pass on service charges from customers to their staff.

This Bill makes it unlawful for businesses to hold back service charges from their employees, ensuring staff receive the tips they have earned. The measures are expected to come into force in 2024, following a consultation and secondary legislation.

This overhaul of tipping practices is set to benefit workers across the hospitality, leisure and services sectors helping to ease cost of living pressures and give them peace of mind that they will keep their hard-earned money.

Dean Russell, Conservative MP for Watford, said: “I am very pleased that my Tips Bill has received Royal Assent. Hard working people working in hospitality in Watford and across the country will be able to retain their tips, knowing that they will now have a fair deal.

“I have always had reservations that some employers kept tips which were earnt by their staff. This new law will stop this immediately and will ensure that the tips are given to the individual staff member, or team.

Virginia Crosbie, Conservative MP for Ynys Môn, said: “I am pleased this bill is now law. Driving it forward was all about fairness for workers and for those who give tips for good service. It was never right that a minority of companies could pocket tips when the public wanted them to go to the person who served them or made their food.

“The law will now boost wages for what are often lower paid jobs and not boost company profits at the expense of hard-working staff. But it is also about valuing the people who do important jobs in our economy, especially in tourist areas like Anglesey, and I am proud to have played my part.”

Through the Act, a new statutory Code of Practice will be developed to provide businesses and staff with advice on how tips should be distributed. On top of this, workers will receive a new right to request more information relating to an employer’s tipping record, enabling them to bring forward a credible claim to an employment tribunal.

UK Hospitality Chief Executive, Kate Nicholls, said: “Fantastic hospitality experiences don’t happen without a huge effort from our teams, both front and back of house, and tips are a generous way of customers showing their gratitude, while providing a welcome boost to employees’ earnings. Tips are just one part of what makes working in hospitality a great job and career.

“We’re pleased to support this new piece of legislation as it comes into law today and look forward to working with Government and other stakeholders on a code of practice that ensures a fair distribution of gratuities amongst all who contribute to providing great hospitality.”

Energy intensive businesses can benefit from new support under the Government’s latest move to support industry.

Some companies using high amounts of energy could see their bills slashed by as much as 20 per cent off predicted wholesale prices.

Minister for Energy Consumers and Affordability Amanda Solloway said: “We are beginning to see light at the end of the tunnel for global energy prices as Putin’s grip on the market weakens – but our vital energy and trade intensive industries remain uniquely exposed to these challenges.”

Applications have now opened for energy and trade intensive sectors that are most affected by the unprecedented rise in global energy prices to claim further discounts on their bills between 1 April 2023 and 31 March 2024 – helping deliver on the Government’s priority to halve inflation.

Ceramics and textiles are among the wide range of sectors potentially in line to benefit. These companies use high amounts of energy to deliver their goods, but also are exposed to strong international competition, meaning they cannot raise their prices to cover the increase in costs they have faced.

Ministers are urging companies to check their eligibility and submit their applications at the earliest opportunity, as the Government continues its unprecedented support package that has protected businesses and as of April has saved them £5.9 billion on energy costs – more than £30 million a day.

“We stand firmly behind British business and that’s why we’re protecting them with an additional offer of support so they can continue to thrive. I urge businesses to check their eligibility and submit an application right away so they can get the help they need.”

The offer is part of the Government’s new Energy Bills Discount Scheme, launched last month, which will continue to automatically give businesses across the UK money off their energy bills as wholesale energy prices fall to the lowest level since before Putin’s illegal invasion of Ukraine.

Businesses are advised to check GOV.UK as soon as possible to find out their eligibility and what they need to do to apply. Discounts could be reflected in bills from as soon as June, with support backdated to 1 April. This could save some around 20 per cent on predicted wholesale energy costs.

Heat networks with domestic customers can also now receive a new, sector-specific support rate to make sure households do not face disproportionately higher bills compared to customers supported by the Energy Price Guarantee. Heat suppliers will need to apply for this rate and are legally obligated to pass on the discount to their customers.

This is just one of a range of ongoing schemes supporting households and businesses with energy costs at this time which the Government is urging all eligible customers to apply for and take full advantage of.

The Non-Domestic Alternative Fuel Payment scheme is providing top-ups starting at £750 for organisations using large quantities of kerosene heating oil, such as such as farms, hotels, charities and public buildings like schools and hospitals. Organisations have until 28 April to apply for this support via GOV.UK.

This scheme is also offering £150 payments to organisations using alternative fuels.

If you need help to find out what you are eligible for, talk to us.

New legislation has been introduced to put an end to online fake reviews and subscription traps that costs more than £1bn a year.

The measures will help ensure businesses and consumers are protected from rip-offs and can reap the full benefits of the digital economy with confidence.

Businesses that breach consumer rights will come under the spotlight with the far-reaching new rules that provide extra power for the Competition and Markets Authority (CMA).

In competitive markets, firms strive to give consumers the best products, most choice, and lowest possible prices. The Bill will provide the CMA with stronger tools to investigate competition problems and take faster, more effective action, including where companies collude to bump-up prices at the expense of UK consumers.

Business and Trade Minister Kevin Hollinrake said: “Smartphones and online shopping have profoundly changed the landscape for businesses, consumers and the foundations of a modern thriving economy, which now lie in strong consumer choice, confidence and competition.

“From abuse of power by tech giants, to fake reviews, scams and rip-offs like being caught in a subscription trap – consumers deserve better.”

The CMA will be able to directly enforce consumer law rather than go through lengthy court processes. The reforms will also heighten the consequences for wrongdoers as the CMA and the courts will have the power to impose penalties of up to 10 per cent of global turnover for breaching consumer law.

The Bill will also enable the Government to ban the practice of facilitating fake reviews or advertising consumer reviews without taking reasonable steps to check they are genuine. New rules will ensure consumers can exit subscriptions in a straightforward, cost-effective, and timely way and require that businesses issue a reminder to consumers when a free trial or introductory offer is coming to an end.

This will help deliver one of the Government’s five priorities to grow the economy by increasing consumer choice and confidence in the products they buy and services they use.

As part of the Digital Markets, Competition and Consumers Bill, a Digital Markets Unit (DMU) within the CMA will be given new powers to tackle the excessive dominance that a small number of tech companies have held over consumers and businesses in the UK. This market dominance has stifled innovation and growth across the economy, holding back start-ups and smaller firms from accessing markets and consumers.

The government’s new digital regime will give the DMU powers to ensure that businesses and consumers are not unfairly disadvantaged by the biggest players, allowing them access to dynamic and thriving digital markets that will ultimately support our economy to grow. If a firm is deemed to have strategic market status in key digital services, the DMU will be able to step in to set tailored rules on how they behave and operate.

The DMU will also be able to tackle the root causes of competition issues in digital markets by carrying out targeted interventions, opening up new paths for start-ups or smaller firms that have previously struggled to grow and compete in these markets.

Firms may be told to give customers greater flexibility when purchasing products online and to break down restrictive technical barriers that block users from using products on different devices and systems. The new regime will drive innovation across the entire economy, maintain and further the UK as an attractive tech destination for international investment, and make the digital economy a fairer place for businesses and customers.

Paul Scully, Minister for Tech and the Digital Economy said: “The announcement shows we are proudly pro-growth and pro-innovation across the board in the tech sector, seeking to open up new opportunities for all firms, however small or large they are, while empowering consumers.”

1 May 2023 – Due date for corporation tax due for the year ended 30 July 2022.

19 May 2023 – PAYE and NIC deductions due for month ended 5 May 2023. (If you pay your tax electronically the due date is 22 May 2023).

19 May 2023 – Filing deadline for the CIS300 monthly return for the month ended 5 May 2023.

19 May 2023 – CIS tax deducted for the month ended 5 May 2023 is payable by today.

31 May 2023 – Ensure all employees have been given their P60s for the 2022/23 tax year.

1 June 2023 – Due date for corporation tax due for the year ended 31 August 2022.

19 June 2023 – PAYE and NIC deductions due for month ended 5 June 2023. (If you pay your tax electronically the due date is 22 June 2023).

19 June 2023 – Filing deadline for the CIS300 monthly return for the month ended 5 June 2023.

19 June 2023 – CIS tax deducted for the month ended 5 June 2023 is payable by today.