Energy Strategy for England, Scotland & Wales
In response to the current Energy crisis, our new Prime Minister, Liz Truss, has today announced a number of support measures to help...
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Farrell & Farrell
- Sep 2
- 1 min
Penalty waiver for Making Tax Digital for VAT will be removed from November 2022
Penalty waiver for Making Tax Digital for VAT will be removed from November 2022 From 1 November 2022, businesses and agents will only be...
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Farrell & Farrell
- Aug 24
- 1 min
HMRC company car advisory fuel rates from 1 September 2022
The HMRC company car advisory fuel rates that apply from 1 September 2022 have been increased reflecting a sharp increase in fuel prices...
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Farrell & Farrell
- Aug 18
- 1 min
UK: Cost of living crisis - Inflation rate hits a new 40 year high
The Cost of Living crisis continues to worsen with the UK rate of inflation rising to 10.1% in the 12 months to July 2022 (up from 9.4%...
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Farrell & Farrell
- Aug 12
- 1 min
UK – Student Loan interest rates cut again as a result of rising cost of living & inflation
The Government plans to cut student loan interest rates in England and Wales for the second time this summer as inflation and the cost of...
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Farrell & Farrell
- Aug 10
- 1 min
UK – Are you eligible to claim marriage allowance?
Tax saving of £252 (potentially a tax savings of £1,242!) Marriage allowance is a tax perk available to lower income couples who are...
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Farrell & Farrell
- Aug 8
- 1 min
UK – HMRC late payment interest rates to increase
In response to the Bank of England interest rate increase to 1.75%, HMRC’s late payment interest rates will also increase with effect...
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Farrell & Farrell
- Aug 4
- 1 min
UK: Bank of England raises interest rates
The Bank of England has raised interest rates from 1.25% to 1.75%. This is the biggest rise for 27 years, as it battles to keep a lid on...
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Farrell & Farrell
- Jul 27
- 1 min
UK Reminder: Second payment on account 2021/22 deadline
The second payment on account for UK self assessment tax year 2021/22 is due for payment on or before midnight Sunday, 31 July 2022. If...
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Farrell & Farrell
- Jul 25
- 1 min
NI - ‘Make it Local’ Campaign
‘Make it Local’ is a campaign which will be launched by Newry, Mourne and Down District Council which will showcase the range of in-store...
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Farrell & Farrell
- Jul 22
- 1 min
UK: Recovery Loan Scheme 2-year Extension
The Recovery Loan Scheme offering government backed loans to small businesses due to end on 30 June 2022, has been extended for a further...
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Farrell & Farrell
- Jul 21
- 1 min
UK: Inflation rate hits 40 year high
The UK rate of inflation rose to 9.4% in the 12 months to June 2022 (up from 9.1% in May 2022) as prices continue to rise at their...
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Farrell & Farrell
- Jul 19
- 1 min
UK Leadership race = more short-term tax uncertainty for owner managers
The race to replace the Prime Minister, Boris Johnson is causing tax uncertainty for small company owners in the interim. In the UK, the...
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Farrell & Farrell
- Jun 16
- 1 min
Bank raises UK interest rate to 1.25%
The Bank of England’s Monetary policy committee has announced interest rates are rising by 0.25% from 1% to 1.25%. Interest rates are now...
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Farrell & Farrell
- Jun 15
- 1 min
UK: Reminder on changes to the National Insurance threshold from July
Following the introduction of the Health & Social Care Levy from April 2022, employees will pay National Insurance at 13.25% (previously...
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Farrell & Farrell
- Jun 8
- 1 min
UK: Recovery Loan Scheme – Reminder
The deadline for submitting applications on the Recovery Loan Scheme is Thursday, 30 June 2022. The Recovery Loan Scheme supports access...
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Farrell & Farrell
- Jun 6
- 1 min
UK: 2021/22 P11D deadline is fast approaching
The P11D return is required to report any expenses or benefits paid to employees or directors by employers during the tax year. Any...
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Farrell & Farrell
- Jun 2
- 1 min
HMRC company car advisory fuel rates from 1 June 2022
The HMRC company car advisory fuel rates that apply from 1 June 2022 have been increased reflecting a sharp increase in fuel prices over...
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Farrell & Farrell
- May 26
- 1 min
UK Rising Cost of Living Support Measures
The Chancellor, Rishi Sunak has today announced a number of support measures to help with the rising cost of living. Millions of...
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Farrell & Farrell
- May 10
- 1 min
HMRC to raise interest rates on late tax bills
As a result of the increase in the Bank of England base rate to 1% last week, HMRC has now confirmed that it will raise their interest...
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