Interest rates have been increased to 4.25% from 4% by the Bank of England (BoE) as it tries to slow rising prices. The BoE’s decision to increase rates for the 11th time in a row comes after figures showed that the cost of living has risen by more than expected. Data published recently by the… Read more…

HMRC has revised interest rates with late payment bills charged 6.75% from 13 April, the highest level since January 2008. The late payment and repayment interest rates follow the rise in the Bank of England base rate to 4.25% on 23 March and are applied to the main taxes and duties that HMRC currently charges… Read more…

The government has extended the voluntary national insurance deadline to give taxpayers more time to fill gaps in their contributions and boost their state pensions. The extension comes after members of the public voiced concerns over the previous deadline of 5 April 2023. As part of transitional arrangements to the new state pension, taxpayers have… Read more…

Two freeports have been confirmed for Wales by the UK and Welsh governments. Celtic Freeport, covering Milford Haven and Port Talbot, and Anglesey Freeport will each be backed by £26 million in seed funding by the UK government. The sites were chosen to exploit opportunities from renewable energies and the government said they would ‘make… Read more…

The end of the Energy Bill Relief Scheme (EBRS) on 1 April could threaten the future of hundreds of thousands of small firms, according to research by the Federation of Small Businesses (FSB). The Energy Bill Discount Scheme (EBDS) offers a far lower level of support for small businesses. Although market prices have stabilised for… Read more…

We are excited to announce the re-launch of Xpert Leave Management, the human resources software that is specifically designed to cater to the needs of small businesses. As a small business owner, managing your employees rotas, holidays, personal data and payroll can be a daunting task. We understand that these can often take up valuable… Read more…

Salhan Accountants are very pleased to announce that they are providing all their U‑Deliver customers with a complimentary bank account that surpasses initial impressions. It is designed specifically with sole traders in mind and provides much more than a traditional business bank account. Free Banking! After extensive research into what small business people really need… Read more…

An Individual Savings Account or ISA provides a tax efficient alternative to savings and investments. Any gains which are made from an ISA, whether they be interest from savings or returns on an investment, are free from tax. Of course, this is an attractive alternative to a standard savings account, particularly for those with a… Read more…

HMRC is reminding VAT-registered businesses to file their VAT returns and pay on time ahead of new penalties being applied. The tax authority says that the new penalties will be ‘fairer and more proportionate’ for businesses who submit their VAT returns or pay their VAT late. The first monthly returns and payments affected by the… Read more…

The British Chambers of Commerce (BCC) has urged Chancellor Jeremy Hunt to use the upcoming Spring Budget to help ease cost pressures on small businesses. Research carried out by the BCC revealed that 65% of firms are planning to raise prices due to cost pressures. In addition, 47% of firms stated that paying their energy… Read more…