Following the Bank of England’s latest increase in the base rate, HMRC has increased both late paid tax and the rate paid on repayments of tax. The Bank increased the base rate to 4.5% from 4.25% on 11 May, the 12the consecutive rise. The late payment and repayment interest rates follow this rise and are… Read more…
The number of self assessment taxpayers filing their tax return on the first day of the tax year has more than doubled since 2018, HMRC has revealed. More than 77,500 customers submitted their tax return for the 2022/23 tax year on 6 April 2023, compared to almost 37,000 customers on 6 April 2018. The deadline… Read more…
HMRC is reminding employed workers they can claim a refund on work-related expenses on the GOV.UK website. More than 800,000 taxpayers claimed refunds for work expenses during the 2021/22 tax year. Although the average claim was £125, over 70% of claimants missed out on getting the full amount they were due because they used an… Read more…
The UK rate of inflation fell to 8.7% in April from 10.1% in March, according to the latest data from the Office of National Statistics (ONS). The fall has been attributed to energy price rises slowing from their hikes in 2022. The rate at which grocery prices rose slowed marginally in the year to April,… Read more…
We are delighted to announce that Dr. Anjulika Salhan has been selected to receive the Editor’s Choice award from CEO Insights (visit them at https://www.ceoinsightsindia.com). This award recognizes outstanding leaders who have demonstrated innovation and excellence across several key parameters while delivering high levels of customer satisfaction. It is an annual distinction that showcases the… Read more…
Many businesses choose to provide company vehicles to their employees. This is especially true for those with mobile workers, for example managers who need to travel between clients. Companies who provide vehicles do so as a perk, usually in a package of employee benefits. Whilst there are advantages to providing company vehicles, for both the… Read more…
HMRC has published the latest issue of the Employer Bulletin. The April issue has information on various topics, including: Please contact us for help with tax matters. Internet link: Employer Bulletin
The Trades Union Congress (TUC) has stated that UK employees must be protected from workplace decisions made by artificial intelligence (AI) systems. The TUC warned that, in some instances, AI technology is making ‘life-changing’ decisions, including those in relation to line managing, hiring and firing. AI systems are being used to analyse the facial expressions… Read more…
£177.6 million was lost to impersonation scams in 2022, data published by trade association UK Finance has revealed. The data showed that there were 45,367 cases of impersonation scams in 2022. It also revealed that just 51% of individuals always check whether a request for personal data or money is legitimate. Just 38% of 18–34-year-olds… Read more…
Businesses are still facing major difficulties in hiring new staff, according to a survey conducted by the British Chambers of Commerce (BCC). The latest Quarterly Recruitment Outlook (QRO), a survey of more than 5,000 UK firms, found that 80% of those attempting to recruit have faced challenges. While recruitment difficulties are being experienced across the… Read more…
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