Author Archives: Anna Cummings

Enforcement will focus on 11 specific regions: Belfast, Birmingham, Bradford, Cardiff, Cornwall, Cumbria, East Anglia, Glasgow, Liverpool, the North East, and Watford. HMRC is cracking down on small and medium-sized businesses (SMEs) in 11 UK regions for potential non-compliance with the National Minimum Wage (NMW). Companies found guilty of underpaying will have to reimburse workers … Continued

0.25% reduction for late and repayment interests. The Bank of England (BoE) cut the base rate to 5.0% on 1 August, the first reduction in over four years. HMRC will lower late payment and repayment interest rates for the first time in a year. This change has prompted HMRC to adjust its rates, which are … Continued

Labour’s campaign pledged not to raise National Insurance, income tax, or VAT, yet it proposed significant tax reforms. Labour secured a historic landslide victory in the general election, with Sir Keir Starmer’s Government setting the stage for the introduction of several new tax measures. The party, running on a platform promising change, achieved its largest-ever … Continued

£46.9 billion was lent during Covid under the scheme. While nearly three-quarters of borrowers are on track to repay, a significant £40.9bn remains outstanding. The amount of bounce-back loans fully repaid is just 13% of the £46.9bn handed out to companies during the pandemic. Despite £46.9bn being handed out in bounce back Loans during the … Continued