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

Employment costs for small firms revealed

Small businesses pay an average of £35,500 to hire their first employee, according to research by the Centre for Economic and Business Research and the Federation of Small Businesses.

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More start-ups seek private investment

The number of start-ups asking for permission to raise funds through a tax-efficient private investment scheme increased by more than 1,200 in the 2013/14 financial year, research by Radius Equity has found.

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IR35 self-assessment scrapped

Businesses will no longer be able to self-assess their risk to IR35 from April 2015, HMRC has announced.

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Committee to examine Prompt Payment Code

Businesses and the public sector will lead a new advisory board designed to strengthen the Prompt Payment Code, the government has announced.

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Consumers face retirement uncertainty

Consumers lack confidence in their long-term savings and investments, research by Which? has found.

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