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Following the decision by the Bank of England to increase the base rate, HMRC has confirmed that the late payment interest rate rose a quarter of a percent.

The increase applies from 14 February…

Estimates show that up to £195 million in extra tax revenue has been collected via Making Tax Digital for VAT (MTD for VAT), according to research from HMRC.

The research, conducted by HMRC…

Nearly 66,500 taxpayers filed their 2021/22 self assessment return on the first day of the new tax year, according to figures from HMRC.

In recent years, there has been an increasing number…

HMRC is extending the pilot for Making Tax Digital for Income Tax Self Assessment (MTD ITSA) to more self-employed workers and landlords.

From July, those taking part will be able to test…

More than £20 billion could be added to the UK economy in the future from the number of additional businesses created during the pandemic, according to research carried out by the Confederation of…

New company car advisory fuel rates have been published and took effect from 1 September 2022.

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

A survey conducted by the Institute of Directors (IoD) has found that 42% of UK businesses that trade internationally expect to see an increase in their exports over the coming year.

The survey…

Chancellor of the Exchequer Jeremy Hunt is set to unveil over 30 regulatory reforms to the UK's financial sector, the government has announced.

The Chancellor will set out plans to repeal,…

A record 11.7 million self assessment taxpayers submitted their tax returns by the 31 January deadline, HMRC has revealed.

The final day for self assessment returns saw 861,085 customers…