Changes to VAT penalties and interest from 01 January 2023
Interest rates rise The Bank of England (BoE) has raised interest rates from 0.25% to 0.5%, the first rate rise in ten years.In explaining the reasons behind the rise, the BoE monetary policy summary states:’CPI inflation rose to 3.0% in September. The MPC still expects inflation to peak above 3.0% in October, as the past…