Brace Yourself for HMRC’s New Interest Rates – Highest Since 2001
This article discusses the recent increase in late payment and repayment interest rates to 7.5% and 4%, respectively, following the Bank of England's base rate rise to 5%, with implications for various tax bills and the likelihood of further adjustments...
Service Charge Shock: Leaseholders Stunned by Massive Payment Demands
This article discusses the 8% surge in the average annual service charge, reaching £7.6 billion annually for 5.4 million flat owners in England and Wales, with considerations for variations in charges based on property size and location, and the potential...
£50K Bounce Back Fraud Leaves Two Directors Banned For Years
This article discusses the legal consequences faced by Azmi Shafi Ahmed and George Pinnegar for their involvement in a £50,000 bounce-back loan fraud, resulting in disqualifications from company management.
HMRC Says 300,000 People Yet To Renew Tax Credit Claims
HMRC warns 300,000 people: renew tax credit claims by July 31 through the app or website to avoid payment disruption. Delays may affect future payments, especially with the Universal Credit transition by end of 2024.
Financial Advisor Scams 16 Victims: A £2 Million Fraud Case
Financial advisor Stephen Rae pleads guilty to £2 million fraud against 16 victims, with offenses first reported in 2015 and uncovered during a police search. The officer urges victims of such scams to report promptly for swift action against offenders.
Rate Debate: Why the Bank of England Opted for a 5% Hike
Bank of England raises interest rates to 5% due to persistently high inflation, impacting loan repayments but boosting savings; projections hint at a potential peak of 6.25% by year-end to address the 9% inflation rate, aiming for a 2% target...
Building Futures: Prince William’s Drive to End Homelessness
Prince William's Homewards initiative seeks to end UK homelessness, drawing inspiration from Finland's success, with a focus on comprehensive solutions and changing public perceptions.
Self-Assessment Helpline to Close Temporarily, HMRC Announces
From June 12 to September 4, HMRC shifts Self-Assessment helpline queries online, optimizing resources for urgent needs. Connect with our professionals for assistance with self-assessment tax returns.
£700K tax debt Forces Ban on TFP Hospitality Directors
Former TFP Hospitality directors, Andrew and Clare Novak, banned for 3 and 3.5 years, owed £700,000 to HMRC, leading to the company's liquidation in July 2021. Now, Andrew manages The Firepit Restaurant & Cocktail Bar in Rawtenstall, where Clare is...
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