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10 Aug 23

HMRC increases interest rates again

The Bank of England’s Monetary Policy Committee (MPC) met on 2 August 2023 and voted 6-3 in favour of raising interest rates by 25 basis points to 5.25% in a move to further

10 Aug 23

VAT treatment of road fuel costs

There are four options for the VAT treatment of road fuel costs. Treat all of the VAT as input tax because 100% is used for business purposes. This option only applies to fuel

10 Aug 23

Need to tell HMRC about extra income?

There is an online tool that allows taxpayers to check if they need to notify HMRC about additional income. The online tool can be found at

10 Aug 23

Being made bankrupt

The bankruptcy process applies to people living in England, Wales or Northern Ireland. There is a separate process known as sequestration in Scotland. Bankruptcy is a form of

07 Aug 23

The end of scam calls selling financial products?

Are we about to see the end of phone calls selling sham financial products? An 8-week consultation by the Home Office and other government departments is aiming to do just

03 Aug 23

Corporation Tax Group Payment Arrangements

A Corporation Tax Group Payment Arrangement (GPA) is a special arrangement that allows groups of companies to make joint payments of Corporation Tax. This type of arrangement can

03 Aug 23

HMRC recommends early filing of tax returns

The 2022-23 tax year ended on 5 April 2023 and the new 2023-24 tax year started on 6 April 2023. Many taxpayers will be happy to leave dealing with their 2022-23 tax returns until

03 Aug 23

State Pension if you retire abroad

If you are retiring abroad, you are still entitled to claim your UK State Pension as long as you have built up a suitable amount of qualifying years of NIC contributions. However,

03 Aug 23

Carrying company losses back

Corporation Tax relief may be available where your company or organisation makes a trading loss. A qualifying trading loss may be used to claim relief from Corporation Tax by

03 Aug 23

Characteristics of a valid Will

It is important to make a Will to ensure that your estate is divided amongst your beneficiaries in accordance with your wishes. If you do not leave a Will the law decides who

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