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…

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New VAT penalty regime and other VAT news

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…

1.25% increase to NIC and dividend tax rates 

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…

Budget 2021

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…

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Update on Government schemes in response to COVID-19

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…

Autumn Budget 2017

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…

Changes to flat-rate VAT in more detail with examples

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…