Aug 6, 2024 | Government Announcements
HMRC will lower late payment and repayment interest rates for the first time in a year. The Bank of England (BoE) cut the base rate to 5.0% on 1 August, the first reduction in over four years. This change has prompted HMRC to adjust its rates, which are tied to the...
Aug 1, 2024 | Government Announcements
From 6 April 2025, non-doms in the UK will experience a tougher tax environment under new rules proposed by the Government. The current domicile-based inheritance tax (IHT) system will be replaced with a residence-based system. This change means that individuals who...
Jul 30, 2024 | Current AffairsGovernment Announcements
The Budget date has been set for Wednesday, 30 October, as Chancellor Rachel Reeves outlines plans to address a £20bn deficit. This will be the first opportunity to see Labour’s tax policy direction under the new administration. Reeves has pledged not to raise income...
Jul 10, 2024 | Current AffairsGovernment Announcements
The Government is establishing a National Wealth Fund to boost private sector investment, backed by £7.3bn from the UK Infrastructure Bank. Chancellor Rachel Reeves and Business Secretary Jonathan Reynolds have directed officials to integrate the UK Infrastructure...
Jul 8, 2024 | Government Announcements
The British Business Bank has introduced the Growth Guarantee Scheme to aid smaller UK businesses in obtaining the finance they need for investment and expansion. Replacing the Recovery Loan Scheme, this initiative aims to support approximately 11,000 businesses from...
