HMRC has taken in over £137 million from late payment interest so far for 2023/24, a freedom of information request from investment platform AJ Bell shows. The tax authority has charged 1.3 million taxpayers late payment interest for the…
The UK is set for a decent increase in living standards this year, but energy price shocks caused by war in the Middle East threaten that growth, according to the Resolution Foundation. The think tank says the improvement in living…
Removing the UK’s tariff exemption for low value imports could risk pushing up prices, harming small businesses and reducing trade intensity, warns the British Chambers of Commerce (BCC). The government is considering the move after the US removed its ‘de…
HMRC’s large business directorate has doubled the amount of tax revenue it collects, according to the National Audit Office (NAO). A hands-on approach to tax compliance for large businesses yielded £15.8 billion during 2024/25. That is double what the unit…
Chancellor Rachel Reeves insisted she has the ‘right economic plan’ for the UK in her Spring Forecast Statement announcement. Ms Reeves acknowledged the economic uncertainty caused by war in the Middle East and pledged to chart a course through the…
New company car advisory fuel rates have been published and took effect from 1 March 2026. The guidance states: ‘you can use the previous rates for up to one month from the date the new rates apply’. The rates only…
More than a third of UK employers plan to reduce the recruitment of permanent staff due to the Employment Rights Act’s (ERA) reforms, says the Chartered Institute of Personnel and Development (CIPD). A survey published by the CIPD showed that…
Over 200 hospitality and leisure CEOs have urged the government to scrap plans for a Visitor Levy in England. In a letter to the Chancellor, they warn that the proposed holiday tax will ‘hit families hardest, put jobs at risk…
HMRC has published the latest issue of the Employer Bulletin. The February issue has information on various topics, including: Reporting expenses and benefits for the tax year ending 5 April 2026. End of year reporting. Upcoming State Pension age changes…
The Low Incomes Tax Reform Group (LITRG) is urging the estimated one million taxpayers who failed to file their tax return on time to get their tax affairs back on track. HMRC says that around one million customers missed the…
