Capital allowances reformed in ‘Budget for growth’
Posted on Monday, April 17th, 2023
A £27 billion transformation of capital allowances from April was announced by Chancellor Jeremy Hunt as he delivered a ‘Budget for growth‘. The Spring Budget followed an improved forecast from the Office for Budget Responsibility (OBR). The OBR said... Read Full Article...
No Comments on Capital allowances reformed in ‘Budget for growth’
Business groups welcome Spring Budget
Posted on Monday, April 17th, 2023
The UK’s business groups largely welcomed the measures taken in the Chancellor’s Spring Budget. The Confederation of British Industry (CBI) branded the Budget as a ‘strong second act’ in Mr Hunt’s plan for stability and growth. Matthew Fell, Interim... Read Full Article...
HMRC issues guidance on abolition of pensions lifetime allowance
Posted on Monday, April 17th, 2023
HMRC recently issued preliminary guidance in regard to the abolition of the pensions lifetime allowance. At the Spring Budget, Chancellor Hunt announced that the lifetime allowance charge will be removed from 6 April 2023. The allowance will be fully... Read Full Article...
No Comments on HMRC issues guidance on abolition of pensions lifetime allowance
Bank of England raises UK interest rates to 4.25%
Posted on Monday, April 17th, 2023
Interest rates have been increased to 4.25% from 4% by the Bank of England (BoE) as it tries to slow rising prices. The BoE’s decision to increase rates for the 11th time in a row comes after... Read Full Article...
No Comments on Bank of England raises UK interest rates to 4.25%
HMRC late payment interest rate hits 6.75%
Posted on Monday, April 17th, 2023
HMRC has revised interest rates with late payment bills charged 6.75% from 13 April, the highest level since January 2008 The late payment and repayment interest rates follow the rise in the Bank of England base rate to... Read Full Article...
Taxpayers given more time for voluntary national insurance contributions
Posted on Monday, April 17th, 2023
The government has extended the voluntary national insurance deadline to give taxpayers more time to fill gaps in their contributions and boost their state pensions. The extension comes after members of the public voiced concerns over the... Read Full Article...
No Comments on Taxpayers given more time for voluntary national insurance contributions
Two freeports confirmed for Wales
Posted on Monday, April 17th, 2023
Two freeports have been confirmed for Wales by the UK and Welsh governments. Celtic Freeport, covering Milford Haven and Port Talbot, and Anglesey Freeport will each be backed by £26 million in seed funding by the UK... Read Full Article...
Small businesses at risk as energy costs rise
Posted on Monday, April 17th, 2023
The end of the Energy Bill Relief Scheme (EBRS) on 1 April could threaten the future of hundreds of thousands of small firms, according to research by the Federation of Small Businesses (FSB). The Energy Bill Discount... Read Full Article...
No Comments on Small businesses at risk as energy costs rise