Welcome to our monthly newswire designed to keep you informed of the latest business and tax issues. Please contact us if you have any questions. Remember, we're here to help.
Chancellor cuts fuel duty in Spring Statement
Chancellor Rishi Sunak announced a 5p per litre cut in fuel duty for petrol and diesel in the 2022 Spring Statement.
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Business groups give mixed response to Spring Statement
The UK's business groups gave a mixed response to Chancellor Rishi Sunak's Spring Statement speech.
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OBR updates economic picture
In his Spring Statement speech, Chancellor Rishi Sunak responded to the latest forecasts as published by the Office for Budget Responsibility (OBR).
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MTD for VAT brings in up to an extra £195 million in tax
Estimates show that up to £195 million in extra tax revenue has been collected via Making Tax Digital for VAT (MTD for VAT), according to research from HMRC.
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Bank of England raises interest rates for third time in a row
The Bank of England has raised interest rates for the third consecutive time.
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UK economic growth to halve this year, warns BCC
UK economic growth is expected to halve this year amid soaring inflation, major tax rises, and global shocks including Russia's invasion of Ukraine, warns the British Chambers of Commerce (BCC).
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Student loan repayments for new borrowers to start at £25,000
The level at which students begin to pay back their loans will be lowered from £27,295 to £25,000 for new borrowers.
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CMA frees leaseholders from rising ground rents
Intervention by the Competition and Markets Authority (CMA) has freed more leaseholders from increasing ground rent terms that saw them trapped in homes they struggled to sell or mortgage.
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