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1. Interest rates hiked again as inflation bites

   Finance & strategy

   ... (MPC) voted by a majority of 6-3 to increase Bank Rate by 0.25 percentage points, to 1.25%. Those in the minority preferred to increase Bank Rate by 0.5 percentage points, to 1.5%. While today’s ... the year has slipped away. Weeks after the last interest rate announcement in May, inflation hit the 40-year high of ...

   16th Jun 2022 | Article

2. Interest rates hiked to highest level in 13 years

   Finance & strategy

   ... interest rates. This decision takes the previously 0.75% rate to 1% –  the highest interest rate level since 2009.  The MPC voted by a majority of 6-3 to increase Bank Rate. The members in the minority preferred to increase Bank ...

   5th May 2022 | Article

3. VAT Flat Rate: Not so simple simplification

   Business tax

   ... to VAT liabilities The taxpayer had used the correct flat rate percentage (which is often the first issue for traders ... had gross sales of £60,444. Applying 13% (the flat rate for the sector) produces an output tax liability of ... highlights how easy it is to make errors using the flat rate scheme. Often taxpayers will forget to apply the 1% ...

   3rd Dec 2021 | Article

4. Chargeout rates

   14th Jun 2022 | Any Answers

5. Interest rate increases

   ... from BoE that we're being treated to yet another interest rate increase, the community seems to be in a relative ... from user ROBBIEWHITE caught my attention: "Interest rate needs to be raised further to 4-5%, also I think 11% ... from you all, and don't forget to stay hydrated! Interest rate increases ...

   17th Jun 2022 | Any Answers

6. HMRC mileage rates: You’re paying too much

   HMRC & policy

   ... What is the HMRC mileage allowance? What is the mileage rate for 2022 in UK? What can be reimbursed by mileage ... ensures that they are also tax-exempt. What is the mileage rate for 2022 in UK? The business mileage rate for 2022 isn’t going to change compared to previous ...

   11th Apr 2022 | Industry insights

7. Flat Rate Scheme

   ... are not VAT registered can you still apply for the Flate Rate Scheme from the date you should have registered please? Flat Rate Scheme ...

   13th May 2022 | Any Answers

8. 744A misleading number of seats zero rating

   ... when it says  Zero-rated transport You can zero rate the transport of passengers: in any vehicle, ship or ... ref zero rating.    4.1 Circumstances where you can zero rate domestic passenger transport You can zero rate domestic passenger transport in any vehicle, ship or ...

   23rd Jun 2022 | Any Answers

9. CT instalments post rate increase

   ... reducing to £250,000 or is this just for calculating the rate? Thanks CT instalments post rate increase ...

   19th May 2022 | Any Answers

10. Higher tax rate band

    ... Mates, I am new for UK Tax. I have a basic question on tax rate bands and personal allowance for taxpayer whose annual ... is over £125,140. I read the textbook that the basic rate is used to calculate the first £37,700 and the higher rate is used to calculate the salaries from £37,701 to ...

    18th Apr 2022 | Any Answers