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Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) set to be postponed to 2026
MTD for ITSA was originally scheduled for April 2024, but it has been announced that the programme to digitise the UK tax system will be...
Farrell & Farrell
Dec 20, 20221 min read
UK - Bank of England Interest Rates
The Bank of England has today raised the interest rate from 3% to 3.5% - its ninth consecutive rise as it maintains its battle against...
Farrell & Farrell
Dec 15, 20221 min read


UK: Tax return filing deadline and pay your tax bill by 31 January 2023
A gentle reminder that the countdown to complete your UK self assessment tax return for 2021/22 tax year has begun! Struggling to pay...
Farrell & Farrell
Dec 13, 20221 min read


HMRC company car advisory fuel rates from 1 December 2022
The HMRC company car advisory fuel rates that apply from 1 December 2022 remain unchanged from the September 2022 rates for all classes...
Farrell & Farrell
Nov 22, 20221 min read


Reversal of National Insurance Increase
From the 6 November 2022, the 1.25% cut to National Insurance rates for employees and employers takes effect across the UK. The tax cut...
Farrell & Farrell
Nov 9, 20221 min read
UK – HMRC late payment interest rates to increase
In response to the Bank of England interest rate increase to 3.0%, HMRC’s late payment interest rates will also increase with effect from...
Farrell & Farrell
Nov 8, 20221 min read
UK - Bank of England Interest Rates
The Bank of England has today raised the interest rate from 2.25% to 3%, which is the highest increase in 33 years.
Farrell & Farrell
Nov 3, 20221 min read


UK - Tax Free Childcare Scheme
Please find attached a detailed summary of the Tax Free Childcare Scheme.
Farrell & Farrell
Oct 21, 20221 min read


Northern Ireland student loans to rise by 40% due to cost of living
Northern Ireland's Economy Minister has announced a 40% increase in student maintenance loans from 2023. The increase will aim to...
Farrell & Farrell
Oct 20, 20221 min read


Farrell & Farrell
Oct 18, 20220 min read


The New UK Chancellor has announced a new financial plan
The new Chancellor appointed last Friday, Mr Jeremy Hunt announced today that the Government will reverse “almost all” of the tax cuts...
Farrell & Farrell
Oct 17, 20222 min read
UK: Government U-turn on Corporation tax
In response to the market turmoil since the announcement of the Mini-Budget, the Prime Minister Liz Truss has sacked the Chancellor Kwasi...
Farrell & Farrell
Oct 14, 20221 min read


MTD for VAT filing will become mandatory from 1 November 2022
All VAT-registered businesses must use Making Tax Digital (MTD) compatible software for their VAT returns from 1 November 2022. From 1...
Farrell & Farrell
Oct 13, 20221 min read
UK: Chancellor scraps plans to remove 45% income tax rate for high earners
The Chancellor, Kwasi Kwarteng, has today announced that the Government will not go ahead with plans to abolish the 45p rate of income...
Farrell & Farrell
Oct 3, 20221 min read
UK: Bank of England to buy Government bonds
The BOE has today announced that it will step in and buy Government bonds to help “restore orderly market conditions”. The pound has...
Farrell & Farrell
Sep 28, 20221 min read
UK – HMRC late payment interest rates to increase
In response to the Bank of England interest rate increase to 2.25%, HMRC’s late payment interest rates will also increase with effect...
Farrell & Farrell
Sep 26, 20221 min read


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...
Farrell & Farrell
Sep 8, 20221 min read
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...
Farrell & Farrell
Sep 2, 20221 min read


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...
Farrell & Farrell
Aug 24, 20221 min read
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%...
Farrell & Farrell
Aug 18, 20221 min read
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