Bank of England puts interest rate up

Bank of England puts interest rate up

The Bank of England has put the interest rate up from 0.5% to 0.75%. The quarter of a percentage point rise sets the rate at its highest level since March 2009. The rise in the interest rate will no doubt increase the interest costs of residential mortgages that have...
HMRC saves public £2.4M by stopping fraudsters

HMRC saves public £2.4M by stopping fraudsters

HMRC has announced that it has been stopping fraudsters and has saved the public over £2.4m by tackling fraudsters that trick them into using premium rate phone numbers for services that HMRC provide for free. HMRC has reported that scammers create websites that look...
HMRC extends RTI late filing easement until April 2019

HMRC extends RTI late filing easement until April 2019

HMRC extends RTI late filing for payroll Real Time Information late filing easement until April 2019. Under RTI payroll obligations employers must submit details of payments made to employees on or before the day that wages are paid via a Full Payment Submission. The...
UK ‘tax gap’ falls to 5.7%

UK ‘tax gap’ falls to 5.7%

Uk tax gap falls – HMRC has confirmed that the tax gap for 2016/17 has fallen to 5.7%. The ‘tax gap’ is the difference between the tax that should theoretically be paid to HMRC and the actual tax that has been paid. HMRC believes that the tax gap is lower as a...
Changing priorities at HMRC

Changing priorities at HMRC

Over the coming years, the government plans to phase in its landmark Making Tax Digital (MTD). This initiative, will see taxpayers move to a fully digital tax system. There are however changing priorities at HMRC and they have shared a statement about how they are...