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HMRC has reminded businesses that file VAT returns annually that the online VAT filing portal will close from 15 May 2023.

The VAT portal closed to standard quarterly filers on 7 November…

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…

The UK is set for five years of lost economic growth, according to research from think tank the National Institute for Economic and Social Research (NIESR).

The NIESR said the series of shocks…

The UK's base rate of interest was held at 5.25% in September as the rate of inflation fell to 6.7% in the year to August 2023.

The fall in the rate of inflation surprised economists, who…

The Chancellor should cement the government's commitment to small businesses in his Autumn Statement, according to the Federation of Small Businesses (FSB).

The FSB has called for a strong…

Government borrowing fell to £7.8 billion in December 2023 giving Chancellor Jeremy Hunt more scope to make the tax cuts he has hinted at in the Spring Budget.

The Office for National Statistics…

HMRC has published the latest issue of the Employer Bulletin. The February issue has information on various topics, including:

• 2024 National Insurance contributions rate changes
…

Higher than expected government borrowing has reduced the Chancellor's 'wiggle room' at a pre-election Budget.

Government borrowing - the difference between spending and tax income…

Almost 300,000 self assessment taxpayers filed their return in the first week of the new tax year, HMRC has revealed.

The early filers were almost 10 months ahead of the 31 January 2025 deadline.

Almost…