Number of cash transactions rises for first time in a decade
The number of payments made with cash rose for the first time in a decade in 2022, according to data published by UK Finance. According to UK Finance, the total…
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Government launches Business Climate Hub
The government has launched the UK Business Climate Hub to offer firms advice and support on reducing their energy bills and cutting their carbon emissions. The Hub includes a free…
Advisory fuel rates for company cars
New company car advisory fuel rates have been published and took effect from 1 September 2023. The guidance states: ‘you can use the previous rates for up to one month from…
Inflation falls to 6.8% in July
The UK’s annual inflation rate fell to 6.8% in July, down from 7.9% in June, according to the latest data from the Office of National Statistics (ONS). It is the…
UK set for five years of lost economic growth, warns think tank
The UK is set for five years of lost economic growth, according to research from think tank the National Institute for Economic and Social Research (NIESR). The NIESR said the series…
HMRC should increase rewards for whistleblowers, says law firm
HMRC should increase the rewards it pays out to whistleblowers in line with the US system, according to law firm RPC. The tax authority paid out over £509,000 to individuals providing…
Another million savers to be hit with tax on interest
The frozen Savings Allowance combined with rising interest rates will push over one million taxpayers into paying tax on their savings this tax year, according to research by investment platform…
HMRC increases late payment interest rate to 7.5%
HMRC has increased interest rates with late payment bills charged 7.5% from 11 July, the highest rate since 2001. The move follows the Bank of England’s June increase in the base…
CMA scheme will force retailers to publish live fuel prices
A new fuel finder scheme to enable drivers access to live fuel prices and revitalise competition in the retail road fuel market, according to the Competition and Markets Authority (CMA)….
Almost a million Child Trust Funds still unclaimed
Almost a million young people have yet to access savings contained in Child Trust Funds (CTFs), according to a report by Parliament’s Public Accounts Committee (PAC). The PAC said over £1.7…
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