Tax amnesty, recession, and service expansion - here's your need-to-know business news roundup.
HMRC has begun a general amnesty aimed at those who have underpaid their tax.
Under the new scheme taxpayers will not be prosecuted if they admit their underpayment and pay what they owe. [FT]
Austerity will push the UK back into recession according to a new report.
The National Institute for Economic and Social Research expects the economy to shrink by a total of 1.1 per cent this year. [Guardian]
The UK service sector grew in January at its fastest rate since March 2011.
The Markit/Cips purchasing managers’ index rose to 56 during the month. [BBC]
