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…
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…
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…
The largest overhaul of alcohol duty in 140 years sees drinks taxed by strength rather than category from 1 August. It also sees the introduction of Small Producer Relief, which aims to…
The voluntary and community sector will be able to apply for grants from HMRC to support their work with taxpayers who need extra assistance with their tax affairs. Eligible organisations need…
There was a glimmer of good news halfway through the year as the June inflation figure dipped below 8%. While the pace of rising interest rates may be slowing, the…
HM Revenue and Customs (HMRC) continues to increase its focus on undeclared income tax from buy-to-let landlords, with an 83% rise in cases during the 2022/23 tax year. The Let…
The deadline for filing your 2023 Self Assessment Tax Return online and to pay any tax you owe is 31 January 2024, however you don’t have to wait until then…
A report published by the National Audit Office (NAO) has found that HMRC’s Making Tax Digital (MTD) initiative is expected to cost around £1 billion more than its initial £226 million…
HMRC is planning to close its self assessment tax helpline for three months over the summer to focus call centre resources on dealing with other problem calls. All calls to the…
HMRC has extended the voluntary national insurance contributions (NICs) deadline until 2025. Extending the voluntary NICs deadline until 2025 will give people more time to consider whether paying voluntary contributions…
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