PM restructures departments to boost the economy
New departments will focus on supporting growth and achieving net zero.
HMRC raises interest rates on tax debt
The new penalties will apply from 21 February.
Company insolvencies surge in 2022
Insolvency figures hit 2,190 – their highest level since 2009.
Bank of England raises interest rates to 4%
The latest increase is the highest base rate in 14 years.
Directors’ economic confidence rises
Business leader confidence hits its highest level since March 2022.
Millions of taxpayers leave returns until the last minute
2.7 million self-assessment customers were yet to file just hours before the deadline.
HMRC publishes updated VAT penalty regime
The updated penalty system came into effect on 3 January.
Chancellor outlines four ‘Es’ to grow the economy
Hunt suggests taxes won’t be cut until inflation is under control.
IMF forecasts UK economy will shrink in 2023
Britain is expected to be the only G7 country in recession this year.
HMRC reveals new AER calculation method
Quarterly reviews will use ONS data to calculate advisory electric rates.
Small business tax debt is growing
Non-payment has increased since the Covid-19 pandemic.
Wait time for HMRC helpline hits 27 minutes
HMRC says that home workers are not affecting call centre performance.