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

The UK’s smallest firms find it difficult to cope with the demands of employment law, the British Chambers of Commerce (BCC) has said, prompting a call for a three-year moratorium on new legislation.

Businesses that believe they will make a trading loss in the current tax year can ask HM Revenue and Customs (HMRC) to take the anticipated loss into account as part of any rescheduling of their corporation tax or income tax payments.

After months of poor savings account interest rates, investors may be about to reap the rewards of better returns on their money.

Over half of employers are intending to freeze wages this year, and 12 per cent are planning to introduce wage cuts, according to a new survey.

It could take the length of “two parliaments of pain” before the economy recovers, a thin-tank has claimed.

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