May 25, 2023 | Current Affairs
The annual inflation rate dropped from 10.1% to 8.7% in April, according to the latest figures from the Office for National Statistics (ONS). This is the first time UK inflation has fallen below double digits since August 2022, and marks its sharpest decline since the...
May 24, 2023 | Current Affairs
The UK economy will avoid recession in 2023, according to new analysis from the International Monetary Fund (IMF). After previously projecting that the UK would have the weakest economic growth in the G7, the IMF sharply upgraded its growth forecast on Tuesday (23...
May 23, 2023 | Current Affairs
HMRC is raising late payment interest to 7% on 31 May following the Bank of England's (BoE's) recent base rate increase. The rise means that interest on outstanding tax bills has doubled since May 2022 and is now at its highest level since the beginning of the 2008...
May 19, 2023 | Current Affairs
One in five taxpayers will pay the higher or additional rate of income tax by 2027, warns the Institute for Fiscal Studies (IFS). Recent threshold freezes could see around 7.8 million people pay income tax at 40% or above - nearly four times higher than during the...
May 17, 2023 | Business RegulationCurrent Affairs
Company insolvencies in England and Wales fell by nearly a third (31.8%) in the month to April 2023, according to the latest figures from the Insolvency Service. In total, 1,685 companies were registered as insolvent last month, including 1,368 creditors' voluntary...
