Summer 2023 Newsletter
It’s taking a while to shake off colder temperatures, although there are glimpses of warmer weather ahead. The same might be said of the economy, with the Office for Budget…
Categories
Small businesses at risk as energy costs rise
The end of the Energy Bill Relief Scheme (EBRS) on 1 April could threaten the future of hundreds of thousands of small firms, according to research by the Federation of…
Two freeports confirmed for Wales
Two freeports have been confirmed for Wales by the UK and Welsh governments. Celtic Freeport, covering Milford Haven and Port Talbot, and Anglesey Freeport will each be backed by £26…
Taxpayers given more time for voluntary national insurance contributions
The government has extended the voluntary national insurance deadline to give taxpayers more time to fill gaps in their contributions and boost their state pensions. The extension comes after members…
HMRC late payment interest rate hits 6.75%
HMRC has revised interest rates with late payment bills charged 6.75% from 13 April, the highest level since January 2008 The late payment and repayment interest rates follow the rise in…
Bank of England raises UK interest rates to 4.25%
Interest rates have been increased to 4.25% from 4% by the Bank of England (BoE) as it tries to slow rising prices. The BoE’s decision to increase rates for the…
HMRC issues guidance on abolition of pensions lifetime allowance
HMRC recently issued preliminary guidance in regard to the abolition of the pensions lifetime allowance. At the Spring Budget, Chancellor Hunt announced that the lifetime allowance charge will be removed from 6…
Business groups welcome Spring Budget
The UK’s business groups largely welcomed the measures taken in the Chancellor’s Spring Budget. The Confederation of British Industry (CBI) branded the Budget as a ‘strong second act’ in Mr Hunt’s plan for…
Capital allowances reformed in ‘Budget for growth’
A £27 billion transformation of capital allowances from April was announced by Chancellor Jeremy Hunt as he delivered a ‘Budget for growth‘. The Spring Budget followed an improved forecast from the Office for…
Budget 2023 Guide
The Spring Budget was delivered by the Chancellor Jeremy Hunt on Wednesday 15 March. After presenting a Budget-in-all-but name with the Autumn Statement, the Spring Budget was delivered against the…
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