UK interest rates have been left unchanged at 5.25% by the Bank of England’s Monetary Policy Committee (MPC). The MPC had previously raised interest rates 14 times in a row to tame inflation, leading to
The government has been slow to recover losses of £1.1 billion from fraud and error in Covid grant schemes, according to MPs in the Public Accounts Committee (PAC). The latest PAC report found after spending
The Federation of Small Businesses (FSB) has released a Christmas wish list for UK tourism, hospitality and retail in the run up to the festive season. The FSB says its Tinsel List will bring a
More than a third of English households will see higher energy bills this winter than they did last winter, according to research published by the Resolution Foundation. Almost half of those hit by the higher
Parents have until 31 August to inform HMRC that their 16-year-old is continuing their education or training in order to continue receiving Child Benefit. Teenagers are set to find out their GCSE results on 24
Over a third of UK importers are feeling the impact of geopolitical pressures on their supply chains, according to research conducted by the Institute of Directors (IoD). Tensions between China and the US, Russia and
The largest overhaul of alcohol duty in 140 years sees drinks taxed by strength rather than category from 1 August. It also sees the introduction of the Small Producer Relief, which aims to help small
HMRC repaid £56.2 million to individuals who accessed their pension pots in the second quarter of 2023. According to HMRC, 15,839 pension flexibility claim forms were processed between April 2023 and June 2023. It has
Data published by the Office for National Statistics (ONS) has revealed that the UK rate of inflation fell to 7.9% in the year to June. The inflation rate is currently at its lowest annual rate
People over 50 who retired during the pandemic are ‘much poorer’ in general than other retirees, according to research from the Institute for Fiscal Studies (IFS). The IFS said 48% of those who retired in
HMRC has increased late payment interest rates to 7.5% from 11 July, the highest rate since 2001. The move follows the Bank of England’s latest increase in the base rate with HMRC also increasing the
A new fuel finder scheme to enable drivers access to live fuel prices and revitalise competition in the retail road fuel market, according to the Competition and Markets Authority (CMA). The scheme would be made
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