Weekly News:
- HMRC has revealed that a highly rated restaurant in Manchester owes hundreds of thousands of pounds in taxes.
- UK company registration fees have been increased across the board.
- Free childcare applications for a new age group will open this Sunday.
- The Bank of England has announced that the benchmark interest rate will remain unchanged at 5.25%.
HMRC has revealed that a highly rated restaurant in Manchester owes hundreds of thousands of pounds in taxes
HMRC said one of Manchester’s highly rated restaurants owes hundreds of thousands of pounds in taxes.
Moreover, businesses and individuals in Greater Manchester will be listed as “deliberate tax defaulters” once their tax debts exceed £25,000.
This includes nearly ten businesses or individuals such as soft drink wholesalers and real estate companies.
Currently, HMRC has made this public and is awaiting further leads to recover the debts as much as possible.
UK company registration fees have been increased across the board
Recently, Companies House announced an overall increase in fees affecting all existing and new UK companies.
A range of fees, including those for registering companies by post, changing names, and filing confirmation statements, have been raised.
Before May 1, 2024, the fee for online company registration was £12, but now it’s £50.
Officials pointed out that despite the increase, the UK still has the lowest fees in the world.
Free childcare applications for a new age group will open this Sunday
Starting this Sunday, working parents in England with children aged nine months can apply for up to 15 hours of free childcare per week.
Applications for this age group will be granted from September.
Starting September 2025, once eligible, all working parents with children under five will be able to apply for up to 30 hours of free childcare per week.
This scheme currently only applies to the England region, while other regions can check local tax policies.
The Bank of England has announced that the benchmark interest rate will remain unchanged at 5.25%
This Thursday noon, the Bank of England announced its latest decision on the benchmark interest rate, continuing to maintain it at 5.25%.
So far, UK inflation rates have not fallen below 2%, which is one of the important factors for keeping the rate unchanged.
More experts predict that interest rate cuts won’t be seen until at least after August, assuming market conditions improve.
