Nov 17, 2022 | Government Announcements
The UK is currently in a recession that will last through 2023, according to the Government's spending watchdog. The Office for Budget Responsibility (OBR) predicted in its economic report that took into account the Government's spending and tax plans that Chancellor...
Nov 17, 2022 | Government Announcements
Chancellor of the Exchequer Jeremy Hunt delivered his Autumn Statement measures to the House of Commons today (Thursday 17 November), focusing on tax hikes and spending cuts to fill a £55 billion "black hole" in public finances. Among the announcements were freezes to...
Nov 14, 2022 | Government Announcements
HMRC is changing the way it assesses profits for some businesses from 6 April 2024 onwards. Sole traders and partnerships will be assessed on their profits for each tax year that runs from 6 April to 5 April. Businesses with an accounting period between 6 April and 30...
Nov 11, 2022 | Business TaxGovernment AnnouncementsPersonal Tax
Due to a fault in its service, HMRC's property account service has been miscalculating some capital gains tax (CGT) bills. As a result many non-residents who use the online system are paying the wrong amount of CGT due on property sales. HMRC confirmed on its agents...
Nov 4, 2022 | Current AffairsGovernment Announcements
The Bank of England (BoE) has raised the base interest rate from 2.25% to 3% in a bid to curb inflation. The 0.75 percentage point rise is the largest hike since 1989, and the eighth consecutive increase since December 2021. Updated projections from the Bank's...
