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 to 4.25% on 8 May, triggering a 0.25% cut in…
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 will automatically stop. Child Benefit will automatically stop on 31…
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 the BCC says immediate action is needed to remove barriers…
The government is introducing legislation to regulate cryptoassets and improve consumer protection for the asset class. The new rules will apply to firms offering services for cryptoassets like Bitcoin and Ethereum. The government says that around 12% of UK adults…
HMRC has launched a new online interactive tool to help guide both businesses and individuals through tax compliance checks. The Interactive Compliance Guidance tool available on GOV.UK provides information to help customers understand: · HMRC compliance checks.…
A lack of trust and a shortage of expertise at board level are limiting the adoption of AI in UK businesses, according to research from the Institute of Directors (IoD). Just over half of survey respondents said limited expertise or…
Chancellor Rachel Reeves has said British businesses will be supported to trade freely as she takes action on practices that undercut fair trade, such as the dumping of cheap goods into the UK. The government announced immediate action by the…
Sole traders and landlords with an income over £50,000 have been warned that there is less than a year before they will be required to use Making Tax Digital for Income Tax (MTD for IT). HMRC says the launch of…
Think tank the Resolution Foundation has suggested that the government's upcoming Spending Review could help to brighten the 'bleak living standards outlook' for low-to-middle income families. The Foundation stated that the Review should prioritise spending on services they use the…
The Institute of Directors (IoD) has welcomed the launch of the government's new Cyber Governance package, which is underpinned by the Cyber Governance Code of Practice. The Code of Practice shows boards and directors how to manage digital risks and…
