Insider March 2023
The Bank of England (BoE) has raised its interest rate by 0.5% to 4% following a monetary policy committee (MPC) meeting on 2 February 2023.
The Bank of England (BoE) has raised its interest rate by 0.5% to 4% following a monetary policy committee (MPC) meeting on 2 February 2023.
The Government has announced a new energy bills discount scheme (EBDS) for UK businesses, set to replace the current energy bills relief scheme (EBRS) once it ends in March.
The Treasury has confirmed that Making Tax Digital for income tax self-assessment (MTD for ITSA) will be delayed a further two years until April 2026.
A typical five-year fixed rate mortgage has hit 6.02%, the highest figure since the 2010 financial crisis.
Mortgage rates have been rising throughout 2022, but there was a significant increase after the mini-budget announcement on 23 September 2022.
The additional tax rate has been scrapped completely by the new Chancellor.
Kwasi Kwarteng has announced the biggest bundle of tax cuts since 1972 in his first fiscal statement as Chancellor.