Chancellor announces Spring Statement
Chancellor Rishi Sunak announced a 5p per litre cut in fuel duty for petrol and diesel in the 2022 Spring Statement. The government says it is the largest ever cut on all…
Tax
Spring Statement Summary & Tax Tables 2022/23
The Spring Statement was not meant to be a March mini-Budget, despite what many headlines in the days before suggested. Mr Sunak believes in the once-a-year approach to major tax…
Spring Statement 2022 Headlines
Today the Chancellor Rishi Sunak gave his Spring Statement which is usually of little significance compared to a Budget. But with Easter around the corner he pulled several rabbits out…
Over a million take advantage of extra time to file self assessment returns
HMRC has revealed that more than one million taxpayers filed their late tax returns in February – taking advantage of the extra time to complete their self assessment without facing…
HMRC raises late payment interest rate to 3%
Following the decision by the Bank of England to increase the base rate, HMRC has confirmed that the late payment interest rate rose a quarter of a percent. The increase applies…
Spring Statement is the time to act, says CBI
The Chancellor must act at the Spring Statement or risk the UK economy drifting backwards to low growth, warns the Confederation of British Industry (CBI). The Spring Statement will take…
COVID-19 support grants paid to companies must be included on company tax returns
HMRC has warned that businesses must declare any coronavirus (COVID-19) support grants or payments on their company tax returns and stated that the grants and payments are taxable. The deadline…
HMRC waives self assessment penalties for one month to ease COVID-19 pressures
HMRC is waiving late filing and late payment penalties for self assessment taxpayers for one month. The measure will give those taxpayers affected by the coronavirus (COVID-19) extra time, if…
Self assessment taxpayers must declare COVID grants on tax returns
HMRC has reminded self assessment taxpayers to declare any COVID-19 grant payments on their 2020/21 tax return. According to HMRC, more than 2.7 million customers claimed at least one Self-employment…
Omicron Variant – Support Package Announced
The Chancellor Rishi Sunak has announced details of the support package of £1bn including grants for the hard hit sectors and refunds of SSP following the latest outbreak of the…
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