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Bank of England poised to cut rates
Lower borrowing costs but weaker returns for savers.
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The latest tax, employment, business and economic news affecting firms and individuals alike. Updated each day.
Fuel advisory rates update
Diesel rates for company cars have been cut.Nearly 800 mortgage deals withdrawn
Lenders are concerned about future interest hikes.Access to finance limited for SMEs
Low awareness and high borrowing costs limit growth.Self-assessment threshold increases to £150,000
Fewer PAYE taxpayers will submit returns in 2023/24.Inflation falls to 8.7% in April
Food prices remain at “near historic highs”.UK economy will “avoid recession”
IMF upgrades its growth forecast.Government launches CIS consultation
Government aims to simplify payments under the scheme.VAT registration helpline closed
HMRC will focus efforts on registration applications.Late payment interest rate rises to 7%
Interest has doubled since May 2022.HMRC plans to simplify construction industry scheme
The scheme may be causing “unnecessary” administrative burdens.