Pensioners outnumber young people for filing self assessment tax returns

HMRC has revealed that more pensioners filed a tax return for the 2020/21 tax year compared to young people.

Overall, those aged 65 and over accounted for 16% of individuals who submitted…

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HMRC late payment interest rate

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…

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Workers must be protected from decisions made by AI, TUC says

The Trades Union Congress (TUC) has stated that UK employees must be protected from workplace decisions made by artificial intelligence (AI) systems.

The TUC warned that, in some instances,…

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Don't miss out on a tax refund for work expenses, HMRC urges

HMRC is urging employed workers to make sure they don't miss out when they claim a refund on work-related expenses.

More than 800,000 taxpayers claimed refunds for work expenses during the…

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Advisory fuel rates for company cars

New company car advisory fuel rates have been published and took effect from 1 September 2023.

The guidance states: 'you can use the previous rates for up to one month from the date the…

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Number of cash transactions rises for first time in a decade

The number of payments made with cash rose for the first time in a decade in 2022, according to data published by UK Finance.

According to UK Finance, the total number of payments made last…

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Many firms still facing recruitment problems

Many UK firms are still facing hiring issues as a result of challenging economic conditions, according to a report from the British Chambers of Commerce (BCC).

73% of firms surveyed by the…

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Countdown for 5.7 million to file their 2022/23 self assessment tax return

With less than a month to go to the self assessment deadline 5.7 million taxpayers have been urged to file their 2022/23 tax returns by HMRC.

HMRC data shows almost 6.5 million customers …

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Over 50s bucking decline in freelance numbers

Tens of thousands more over 50s are now running their own businesses despite an overall decline in self-employment since 2020, according to the Association of Independent Professionals and the Self-Employed…

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