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HMRC has published a policy paper outlining the forthcoming changes to the penalties for late payment and interest harmonisation for taxpayers.

The government intends to reform sanctions for…

The Institute for Fiscal Studies (IFS) has predicted that millions of people will be worse off in 2022 as a result of spiralling costs and tax rises.

Responding to the Autumn Budget, the IFS…

HMRC has reminded self assessment taxpayers to declare any COVID-19 grant payments on their 2020/21 tax return.

According to HMRC, more than 2.7 million customers claimed at least one Self-employment…

HMRC has warned that businesses must declare any coronavirus (COVID-19) support grants or payments on their company tax returns and stated that the grants and payments are taxable.

The deadline…

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

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

There are now more than a million workers missing from the workforce compared to pre-pandemic figures, according to a report published by the IPPR think tank.

About 400,000 of these are no…

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

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

The Bank of England (BoE) has raised UK interest rates to a 13-year high of 1.25% and is now predicting inflation will hit 11% this autumn, when energy bills are set to rise again.

Six out…

Economic analysts have warned that the rate of inflation could keep rising in 2023 as a result of rising energy prices.

Think tank the Resolution Foundation stated that inflation could go…