HMRC has reduced late payment and repayment interest rates following the cut to the base rate. The Bank of England cut the base rate to 4.75% on 7 November, the second reduction this year. This has triggered a cut in…
The UK’s Industrial Strategy must benefit all parts of the country, according to the British Chambers of Commerce (BCC). The government says the Industrial Strategy will be published in Spring 2025, alongside the multi-year Spending Review. The BCC is urging…
HMRC is warning of scam attempts targeting self assessment taxpayers in the run up to the 31 January deadline. Last year, concerned taxpayers reported nearly 150,000 scam referrals to HMRC. Around half of all scam reports in the last year…
Pension reforms announced by Chancellor Rachel Reeves must unlock growth, according to the British Chambers of Commerce (BCC). Pension megafunds will be created as part of the biggest set of pension reforms in decades. The government says this will unlock…
Over 400,000 customers have now used the Student Loan Company's (SLC) digital refund service. The SLC introduced a new service into the online account for repayment customers in May 2024 and has released data on the first six months of operation.…
The government has published draft legislation to permanently cut business rates for retail, hospitality and leisure properties from 2026. The tax cut will be funded by a tax rise for the very largest business properties, such as online sales warehouses,…
Nearly half UK of adults have not written a will, nor are they currently in the process of doing so, according to research published by life insurer Canada Life. Over a quarter said they do not have enough assets or…
Import and export businesses are frustrated by the government’s decision to pause work on the digital trade platform, according to the Institute of Directors (IoD). When fully operational, the Single Trade Window will provide a gateway between businesses and UK…
Criminals stole more than £570 million through authorised and unauthorised fraud in the first half of this year, according to data published by UK Finance. 72% of authorised push payment fraud began online and 16% started via telecommunications. Losses due to unauthorised transactions across…
The extra costs of the increase in employers’ NICs could cause businesses to respond in ways the government did not intend, the Chartered Institute of Taxation (CIOT) has warned. At the Autumn Budget, Chancellor Rachel Reeves announced an increase to…
