First interest rates cut in over four years

First interest rates cut in over four years

by | Aug 1, 2024 | General

The Bank of England’s Monetary Policy Committee (MPC) met on 1 August and in a very close 5-4 vote decided to reduce interest rates by 25 basis points to 5%. The 4 remaining members voted to keep the rate at 5.25%. This was the first interest rate cut announced...
Labour win landslide election result

Labour win landslide election result

by | Jul 11, 2024 | General

As had been widely predicted, the results at the polls have seen the Labour Party back in power after 14 years in opposition. Labour have swept into power with their second-largest majority whilst the Conservative Party have had their worst ever result in terms of the...
New government

New government

by | Jul 8, 2024 | General

Our new government, and in particular, Rachel Reeves, the new Chancellor, will be responsible for raising the funds that our new government requires to finance its activities. The government has already declared that it will not increase Income Tax, National Insurance...
Child Benefit for 16 – 19 year olds

Child Benefit for 16 – 19 year olds

by | Jun 17, 2024 | General

More than a million parents will receive reminders to extend Child Benefit for their teenagers if they are continuing their education or training after their GCSEs. HM Revenue and Customs (HMRC) is sending more than 1.4 million Child Benefit reconfirmation letters to...
Types of HMRC enquiries

Types of HMRC enquiries

by | Jun 13, 2024 | General

HMRC can enquire into any statutory return (or amendment of that return) or statutory claim to check if the return / claim has been prepared correctly or if further information is required. HMRC’s internal manuals state that there is no statutory definition...