Knowledge

The finance sector is making strides in female representation, according to a new report from the Women in Finance charter in this months insider we explore this in more detail

How does his Budget stack up against the Government’s priorities – and what does it mean for people and businesses across the UK?

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.

The Bank of England (BoE) has increased interest rates to 1.75%, the first rise of half a per cent in over 20 years. The latest increase is the fifth rise since December 2021, with the BoE arguing that rate rises are needed to tackle soaring inflation.

More than half of cryptocurrency investors have limited or no understanding of capital gains tax (CGT) and the associated tax liability on crypto transactions.

The Government has published a response to its consultation on strengthening audits, corporate reporting and corporate governance systems.

HMRC has confirmed it will raise interest rates on late tax bills by 0.25 percentage points after the Bank of England increased the base rate of interest to 1%

Penalties now apply to businesses that make mistakes under new IR35 rules for the private sector. The Government extended the off-payroll working rules reform to the private sector in April 2021, but promised to be lenient on mistakes in the first year.