Autumn 2022 Newsletter

27th July 2022

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HMRC cuts late payment interest rate to 8.25%

HMRC will reduce late payment and repayment interest rates from 28 May following the 0.25% cut in the base rate last week. The Bank of England cut the base rate…

Record numbers file assessment in first week of new tax year

Almost 300,000 people filed their tax return in the first week of the new tax year, setting a new record, HMRC has revealed. Self assessment taxpayers can submit their tax…

One in four employers plan to make redundancies in next quarter

The number of employers expecting to increase staff numbers in the next three months has fallen to a record low outside of the pandemic, according to research from the Chartered…

Tax and accounting bodies back e-invoicing adoption

The UK’s professional tax and accounting bodies have backed the adoption of e-invoicing in their responses to a government consultation. The Chartered Institute of Taxation (CIOT) says that HMRC will…

Parents of teens reminded to extend Child Benefit claim online

Parents of 16 to 19-year-olds will receive reminders from HMRC to extend their Child Benefit claim by 31 August if their child is staying in education or training or payments…

Government warned over ‘lost generation’

The government should urgently tackle the jobs crisis among young people or it will risk facing a ‘lost generation’, according to the British Chambers of Commerce (BCC). In a report…

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