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

Nine out of ten businesses do not realise that their banks offer access to the government’s Enterprise Finance Guarantee scheme, a new survey has revealed.

Businesses are being reminded that the date by which they can claim a special, one-off refund on past VAT payments is 31 March 2009.

Employers are being advised that, as from 16 March, HM Revenue and Customs (HMRC) is sending out penalty notices to those firms yet to file their 2007-08 form P11D(b) Class 1A National Insurance contributions annual returns.

Final salary pension schemes in the private sector were underfunded by £219 billion last month, new figures have revealed.

The cost of operating a small firm has dropped as deflation replaces inflation during the deepening of the economic downturn.

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