Bank of England raises UK base interest rate to 5%
The Bank of England has raised UK interest rates to a 15-year high of 5% as it continues its battle against inflation. Despite concerns that mortgage-holders face a timebomb of higher…
Blog Posts
UK inflation stays at 8.7%
The UK’s rate of inflation plateaued at 8.7% in May, data published by the Office for National Statistics (ONS) has shown. Inflation was expected to fall in May but remained at…
Advisory fuel rates for company cars
New company car advisory fuel rates have been published and took effect from 1 June 2023. The guidance states: ‘you can use the previous rates for up to one month from…
Energy suppliers urged to renegotiate fixed contracts for small businesses
The Federation of Small Businesses (FSB) has urged energy suppliers to renegotiate fixed contracts for small firms on market-peak tariffs. Research carried out by the FSB revealed that many small…
UK rate of inflation fell sharply in April
The UK rate of inflation fell to 8.7% in April from 10.1% in March, according to the latest data from the Office of National Statistics (ONS). The fall has been…
UK inflation falls to 10.1% in March
UK inflation has dropped, but remains in double-digit levels, as the cost-of-living crisis eased slightly in March. The annual consumer prices index dropped to 10.1% in March, down from 10.4%…
PAC criticises government for billions lost to error and fraud
The Public Accounts Committee (PAC) has criticised the government for losing billions of taxpayers’ money to fraud and error in pandemic support. The Department for Business and Trade (DBT) is ‘effectively…
£177.6 million lost to impersonation scams in 2022
£177.6 million was lost to impersonation scams in 2022, data published by trade association UK Finance has revealed. The data showed that there were 45,367 cases of impersonation scams in…
No sign of hiring difficulties easing, says BCC
Businesses are still facing major difficulties in hiring new staff, according to a survey conducted by the British Chambers of Commerce (BCC). The latest Quarterly Recruitment Outlook (QRO), a survey of…
Online VAT filing portal to close in May
HMRC has reminded businesses that file VAT returns annually that the online VAT filing portal will close from 15 May 2023. The VAT portal closed to standard quarterly filers on 7 November…
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