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HMRC has announced that interest rates for late payments will increase by 1.5% for all taxes starting 6 April 2025. This change, which was first announced at Autumn Budget 2024, will raise the late payment interest from the current base rate plus 2.5% to base rate plus 4.00%. This adjustment applies to most taxes. Late payment interest is automatically applied by HMRC and accrues on any unpaid tax liability from the due date until the amount is fully paid. HMRC interest rates are determined by legislation and are tied to the Bank of England’s...

HMRC has launched a campaign targeting informal money transfer networks like Hawala, aiming to combat money laundering and protect communities. Businesses must register for AML supervision or risk fines, prosecution, or closure. It is estimated that some £2 billion is laundered annually through these networks in the UK. This is a practice that is exploited by criminals to conceal the proceeds of serious organised crime. These networks, often used by diaspora communities to send money abroad, rely on informal, trust-based systems like Hawala....

Following the Spring Statement, HMRC is inviting feedback on the idea of expanding the use of advance clearances for R&D tax reliefs, aiming to reduce errors and fraud, provide businesses with more certainty, and make the overall process smoother for taxpayers. This R & D clearance consultation will explore whether an advance clearance system could achieve these objectives and how it might be structured. The consultation is open for comments until 26 May 2025, and responses are welcomed from businesses that currently claim or plan to...

New rules under the Economic Crime and Corporate Transparency Act mean identity checks will soon be required at Companies House. From directors to agents, all those running UK companies will need to verify who they are as part of tougher anti-fraud measures. This Act enhances Companies House's powers to combat the abuse of corporate structures and address economic crime. Among its provisions was the introduction of identity verification for individuals who are setting up, running, owning, or controlling a company in the UK. Ultimately,...

Business Asset Disposal Relief (BADR) provides a reduced Capital Gains Tax (CGT) rate on the sale of a business, shares in a trading company, or an individual's interest in a trading partnership. This relief can still provide substantial tax savings for business owners exiting their businesses. As part of the Autumn 2024 Budget measures, the CGT rate for BADR gains will increase from 6 April 2025. The new CGT rate is 14% (from 10%) for disposals made on or after that date. Furthermore, the rate is set to increase again to 18% for disposals...

If you're facing financial difficulties and owe tax, HMRC’s Time to Pay service may offer breathing space. From self-assessment to PAYE and VAT, eligible individuals and businesses can spread payments and avoid immediate enforcement. Businesses and self-employed individuals experiencing financial challenges and with outstanding tax liabilities may qualify for support through HMRC's Time to Pay service. This service helps with unpaid taxes, duties, penalties, or surcharges that cannot currently be paid. Self-assessment taxpayers with...

​As of 31 March 2025, new regulations have come into effect in England, requiring workplaces to adopt simplified recycling practices. These measures aim to eliminate confusion over waste sorting, enhance recycling rates, and reduce waste sent to landfills or incineration. ​ Key Requirements for Workplaces: Separation of Waste Streams: Workplaces with 10 or more employees must arrange for the collection of: Dry recyclable materials, including plastic, metal, glass, paper, and card.​ Food waste.​ Residual (non-recyclable)...

In March 2025, the Pubs Code Adjudicator (PCA) wrote to all pub-owning businesses to reinforce the importance of complying with Regulation 46 of the Pubs Code. This regulation focuses on how premises insurance is handled and, crucially, the tied tenant’s right to seek a price match on insurance premiums. Under Regulation 46, pub companies must give tenants full information about the premises insurance arrangements when the tenant is expected to pay the cost. This includes explaining how premiums are calculated and giving tenants the chance to...

Student Loans help cover the cost of university or college in the UK. Whether you're full-time, part-time, or heading into postgrad study, here’s what you need to know about applying for 2025-26 funding—even if your plans aren’t final yet. Student Loans are an essential part of the government’s financial support system for individuals pursuing higher education in the UK. These loans are designed to assist students in covering their living and educational costs during their time at university or college. If you usually reside in England,...

Juggling higher education and parenting? Childcare Grants can ease the pressure by covering up to 85% of your childcare costs. If you're a full-time student with young children, this grant could make a real difference—and it doesn’t need to be repaid. Childcare Grants provide financial support to help students cover the cost of childcare while studying. These grants are aimed at students who are parents or guardians, easing the financial strain of childcare during their higher education journey. You may be eligible for a Childcare Grant...