The number of payments made with cash rose for the first time in a decade in 2022, according to data published by UK Finance. According to UK Finance, the total number of payments made last year increased to 45.7 billion from 40.4 billion in 2021. 50% of all payments in the UK were made using debit cards, and the number of cash payments rose to 6.4 billion. The data also show ...

The government has launched the UK Business Climate Hub to offer firms advice and support on reducing their energy bills and cutting their carbon emissions. The Hub includes a free carbon calculator and a suite of new tools to help businesses measure, track and report on their emissions. It also offers detailed advice on topics, including sourcing products from green supplier ...

The frozen Savings Allowance combined with rising interest rates will push over one million taxpayers into paying tax on their savings this tax year, according to research by investment platform AJ Bell. In the 2023/24 tax year it is estimated that over 2.7 million individuals will pay tax on interest, up by a million in a year. This year's predicted total includes nearly 1.4 ...

Annual Tax on Enveloped Dwellings (ATED) is an annual tax payable mainly by companies that own UK residential property valued at more than £500,000. You’ll need to complete an ATED return if your property: is a dwelling — find out the meaning of ‘dwelling’ in the next section is in the UK was valued at more than: £2 million (for returns from 2013 to 2014 onwards) £1 m ...

HMRC should increase the rewards it pays out to whistleblowers in line with the US system, according to law firm RPC. The tax authority paid out over £509,000 to individuals providing evidence about tax fraud over the past year, RPC's research found. That figure is up from £495,000 in 2021/22 and a 75% increase from the £290,000 paid five years ago, the law firm added. Howev ...

The voluntary and community sector will be able to apply for grants from HMRC to support their work with taxpayers who need extra assistance with their tax affairs. Eligible organisations need to bid for the funding, worth £1.8 million a year from 2024 until 2027, up from the current annual grant of £1.66 million, through HMRC's voluntary and community sector grant funding pro ...

UK intestacy rules are the laws that apply when someone dies without leaving a Will. In the absence of a valid Will, it is these rules that decide how a person’s estate (an estate is another word for everything they owned including money, property, possessions and debt) is distributed after they die. In other words, an individual who dies without having a Will in place is described as having died intestate, which means that the estate will be distributed according to the rules of intestacy.

HMRC has increased interest rates with late payment bills charged 7.5% from 11 July, the highest rate since 2001. The move follows the Bank of England's June increase in the base rate with HMRC also increasing the rate paid on repayments of tax. The Bank increased the base rate to 5% from 4.5% on 22 June, the 13th consecutive rise. The late payment and repayment interest rat ...

Almost a million young people have yet to access savings contained in Child Trust Funds (CTFs), according to a report by Parliament’s Public Accounts Committee (PAC). The PAC said over £1.7 billion is waiting to be claimed by a million young adults, at an average value of £1,900 each. It says ‘failure in long-term planning’ by HMRC means 42% of eligible 18-20-year-olds have n ...

For the ninth year running, Ward Williams took part in the Weybridge Rowing regatta on Friday 4th August. The regatta is organised by Weybridge Rowing Club, along the River Thames. The Regatta was created as a community initiative for local businesses to meet, network and compete in a sporting environment. This year the crew was made up of Ashley Clarke, James Roberts, Alista ...