A whopping £51 billion in credit card, overdraft and personal loan debts will be accrued by consumers who are struggling to meet the upcoming tax deadline.
Category: Finance
Financial advice for owners and managers of small and medium sized business SMEs in the UK All your tax, borrowing and administration advice
Overhaul of financial services regulation to end ‘rip-off’ fees
The UK’s Financial Conduct Authority (FCA) has today announced a major change in how it regulates financial service firms, outlining measures to end “rip-off” fees and ensure fintech companies provide “clear” information to consumers.
Northern Rock customers sue TSB for £800m after being trapped in high-interest mortgages
It is understood that TSB Bank is facing a legal action worth up to £800m, brought by customers who claim they were locked into mortgages with ‘excessively high’ interest rates.
Defaults set to soar as borrowing costs bite
Higher central bank interest rates will trigger a wave of corporate defaults as companies struggle with higher borrowing costs and the threat of a global recession, fund managers have warned.
New UK chancellor Nadhim Zahawi to review corporation tax rises
Nadhim Zahawi, the new chancellor of the exchequer, has called for a review of the UK’s corporate tax policy in a clear hint that a rise from 19p to 25p due next year could be reduced or scrapped.
Sky Sports presenter Alan Parry hit with £356,420 IR35 tax bill
Sky Sports presenter, Alan Parry, has had his appeal against a £356,420.37 IR35 tax bill dismissed at a First-Tier Tax Tribunal hearing.
Making money vs. raising money: Funding your business without venture capital
There seems to be a prevalent belief in the business community that to advance and expand your business, it is essential to have external investment.
Challenge to retail prices index rejig ‘could trigger £40bn compensation payout
The Government could be forced to pay a compensation bill as big as the entire defence budget if a legal challenge launched today over the rejigging of the retail prices index succeeds.
Banking battle for customers heats up as Nationwide introduces 5 per cent interest rate
The battle for customers is increasingly heating up in the UK banking scene with one major current account provider now offering 5 per cent interest on balances up to £1,500 for the first 12 months .
Monzo poised to press on with crypto plans
Monzo is likely to press ahead with its crypto investment plans despite the current crash in the market, its co-founder said today.
Chanel handbags lead the way in alternative investments
Jettison the Jackson Pollocks, chuck out the Château Latour and find more space in your collection of high-value, high-status items for Chanel handbags and Rolex watches.
Internet Explorer 11 retirement – what does it mean for you?
Internet Explorer 11 (IE11) is the last man standing in Microsoft’s line of IE browsers. Originally, Microsoft had planned to retire IE11 in 2025 but, last year, the firm announced the date had been brought forward to 2022
VAT revenues rise to highest amount ever as HMRC pockets £157bn in just one year
HMRC collected a record £157.2bn from VAT bills in in the last tax year, a 55 per cent jump on the £101bn collected in 2020/21, after businesses were forced to make up for VAT payments they deferred during the pandemic.
Profitability on a knife edge: 2.1million UK SMEs are ‘just about breaking even’
UK SMEs are ambitious for the opportunity to regain lost ground post-pandemic, but risk being held back by a myriad of mounting pressures including rising costs and cashflow challenges.
Six ways to ensure you aren’t paying too much tax
With the average British household now paying £1.1 million in taxes over their lifetime, Perrys Chartered Accountants provides its six top tips to make sure you aren’t overpaying.
