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HMRC interest rates following Bank of England rate cut

HMRC interest rates following Bank of England rate cut

Following a Bank Rate cut to 4.25%, HMRC late payment and repayment interest rates will drop from 19 and 28 May 2025. Check which taxes this affects. The Bank of England’s Monetary Policy Committee (MPC) met on 8 May and, in a narrow 5–4 vote, decided to...
Landmark economic deal with United States

Landmark economic deal with United States

On 8 May 2025, the UK government announced a landmark trade agreement with the United States, aimed at reducing tariffs and bolstering key British industries. This deal is projected to save thousands of jobs, particularly in the automotive and steel sectors, and marks...
Electronic invoicing consultation

Electronic invoicing consultation

The government wants your say on e-invoicing. Quicker payments, fewer errors, and better VAT reporting are on the table. A 12-week consultation could shape the future. HMRC and the Department for Business and Trade (DBT) jointly launched a 12-week consultation earlier...
More in line for savings boost

More in line for savings boost

From April 2025, more low-income workers on Universal Credit can join Help to Save. Save up to £50/month and get a 50% bonus – up to £1,200 over 4 years. A simple way to build your savings. The eligibility rules for the Help to Save scheme were...
Have you set up your Personal Tax Account yet?

Have you set up your Personal Tax Account yet?

Skip the phone queues. Your Personal Tax Account lets you manage everything from tax codes to refunds online. Quick, secure, and all in one place. If you haven’t signed up yet, now’s the time. Your Personal Tax Account (PTA) is a simple and secure way...
Repeal of furnished holiday lets regime

Repeal of furnished holiday lets regime

From April 2025, holiday lets lose their special tax treatment. Landlords must prepare for new Income, Capital Gains, and Corporation Tax rules. Here's what’s changing. The repeal of the Furnished Holiday Lets (FHL) regime, a long-standing arrangement that...