Household energy bills are expected to rise over the coming years after Ofgem approved major investment in the UK’s energy infrastructure. The funding will be used to upgrade electricity networks and gas pipelines, supporting future demand and renewable energy projects. While the regulator says the investment should reduce long-term costs by improving efficiency, consumers are...
Retailer Mothercare has warned that its future is uncertain after breaching the terms of an emergency loan agreement. The announcement led to a sharp fall in the company’s share price. Recent financial results showed a significant drop in sales and revenue, while outstanding debt remains high. The company has acknowledged that there is material uncertainty...
International law firm Freshfields has launched resilience training programmes for university students aiming to enter the City. The sessions focus on coping with stress, handling feedback and developing professional confidence in demanding work environments. Similar initiatives have been introduced by other professional firms, including accounting and consulting practices, reflecting growing concern around wellbeing and preparedness...
HMRC has lowered the interest charged on late self assessment tax payments, reducing the rate from 8% to 7.75%. The change reflects the link between late payment interest and the Bank of England base rate. Taxpayers who miss the 31 January deadline still face fixed penalties, followed by daily charges and further percentage-based penalties if...
The US economy expanded faster than expected in the third quarter, driven by strong consumer spending, exports and government investment. Official figures show growth exceeded forecasts despite a slowdown in business investment. Inflation also picked up during the period, highlighting ongoing pressure on prices even as economic activity remained robust. Disclaimer The information on...
The government has confirmed that inheritance tax relief for farmers will increase, lifting the threshold from £1m to £2.5m. The move follows widespread concern within the farming community, with concern raised over plans set out in last year’s Budget that would see a 20% tax on inherited agricultural assets worth more than £1m as of...
A salary sacrifice pension is a tax-efficient arrangement where an employee agrees to give up part of their salary, and in return, the employer pays that amount directly into the employee’s pension. Instead of being paid as cash income, the contribution goes straight into the pension pot, which can reduce both income tax and National...
The HMRC trust registration deadline is a critical compliance requirement for trustees across the UK. Recently, HMRC has confirmed that it will not extend the end-of-year deadline for trust registration, despite growing concerns from advisers and trustees. However, there is some reassurance: HMRC has stated that it will consider ‘reasonable excuses’ where deadlines are missed...
The head of Scottish Financial Enterprise has urged the Scottish Government to reconsider its income tax structure and bring thresholds closer to those used elsewhere in the UK. He believes the current approach discourages skilled workers and overseas talent, particularly as Scottish taxpayers begin paying higher rates at lower income levels. The warning comes ahead...
Gold bullion firm Direct Bullion has confirmed that a winding‑up petition issued by HMRC has been withdrawn after an administrative issue was resolved. The company’s chief executive stated that the matter arose from a minor error that has since been corrected. Direct Bullion said it is working closely with HMRC to ensure compliance and bring...
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Copyright by CareAccountancy. All rights reserved.
