HMRC has reduced late payment and repayment interest rates following the cut to the base rate. The Bank of England cut the base rate to 4.75% on 7 November, the second reduction this year. This has triggered a cut in HMRC interest rates which are pegged to the base rate. From 26 November, the late… Read more…

New company car advisory fuel rates have been published and took effect from 1 December 2024. The guidance states: ‘you can use the previous rates for up to one month from the date the new rates apply’. The rates only apply to employees using a company car. The advisory fuel rates for journeys undertaken on or… Read more…

We are thrilled to announce that System Holdings, our parent company, in partnership with Intellect AI, has been named the winner in the “Innovative Use of Software and IT” category at the prestigious 2024 Robotics and Automation Awards. The ceremony, held on November 6th at the iconic De Vere Grand Connaught Rooms in London, brought… Read more…

Chancellor Rachel Reeves pledged to ‘invest, invest, invest’ to drive growth and ‘restore economic stability’ in the Autumn Budget. The Budget, which was Labour’s first in over 14 years and the first ever delivered by a female Chancellor, saw £40 billion in tax announcements.  Ms Reeves repeated her claims that the government had inherited a… Read more…

Business groups have reacted to Chancellor Rachel Reeves’ Autumn Budget speech. The Confederation of British Industry (CBI) said that the Chancellor ‘had difficult choices to make to deliver stability for the economy’. Rain Newton-Smith, Chief Executive of the CBI, commented: ‘A more balanced approach to our fiscal rules which prioritises capital investment should help to… Read more…

Over three million workers will receive a pay boost after Chancellor Rachel Reeves confirmed the National Living Wage will increase from £11.44 to £12.21 an hour from April 2025. The 6.7% increase is worth £1,400 a year for an eligible full-time worker. The National Minimum Wage for 18 to 20-year-olds will also rise from £8.60… Read more…

Businesses have been banned from withholding tips or service charges from their staff under new rules that came into force on 1 October. All tips, whether in cash or by card, must now be shared between workers by law in Britain, with millions of workers such as those working for cafes, pubs, restaurants, taxi companies… Read more…

The government’s Make Work Pay Bill lacks a pro-growth element and will increase economic inactivity, the Federation of Small Businesses (FSB) has warned. The business group says that the legislation, particularly around day one dismissal rights, risks deterring small employers from taking a chance on someone who has had a significant period out of the… Read more…

The new Growth and Skills Levy must end the ‘cycle of policy failure’ in addressing Britain’s chronic skills shortages, according to the Resolution Foundation. The think tank says the government must get its design and implementation right if it’s to boost the number of apprenticeships after years of decline and ensure that Levy funds go… Read more…

More than 10,000 payments worth £12.5 million have been made through a new digital service to boost people’s state pension, HMRC has revealed. People have until 5 April 2025 to maximise their state pension by making voluntary National Insurance contributions (NICs) to fill any gaps in their NICs record between 6 April 2006 and 5… Read more…