Feb 9, 2023 | Government AnnouncementsPersonal Tax
HMRC has temporarily paused the Making Tax Digital for income tax self-assessment (MTD for ITSA) pilot for newcomers. In a statement to AccountingWeb, an HMRC official said the decision would allow the tax authority to refresh its testing strategy. They also plan to...
Feb 8, 2023 | Government Announcements
Prime Minister Rishi Sunak has broken up the department of business, energy and industrial strategy (BEIS) as part of a wider shake-up of Government departments. As part of the reorganisation, a combined department of business and trade will focus on supporting growth...
Feb 7, 2023 | Government AnnouncementsPersonal Tax
HMRC is raising interest on tax debt following the Bank of England's (BoE) base rate increase on Thursday (2 February). The new late payment and repayment interest rates will come into effect from 21 February. Taxes affected include income tax, National Insurance...
Feb 3, 2023 | Current AffairsGovernment Announcements
The Bank of England (BoE) has raised interest rates by 0.5% to 4% following a monetary policy committee (MPC) meeting on Thursday (2 February). This is the tenth consecutive time the Bank has increased interest rates, resulting in the highest base rate in 14 years....
Feb 1, 2023 | Government AnnouncementsPAYE and NIPersonal Tax
Around 2.7 million customers were yet to file their self-assessment tax return with just hours to go before the deadline at midnight on Tuesday (31 January). Over 9 million taxpayers have already submitted and paid their tax returns for the 2021/22 tax year ahead of...
