Business advice for motorsport businesses

posted in Business advice for motorsport businesses by Phil Harris on 25th February , 2022

HMRC ups interest charges on late taxes but not refunds HMRC has been criticised for increasing interest charges on owed taxes but not on refunds. The tax office has raised the rate at which interest builds on tax debts,[...] continue reading

posted in Business advice for motorsport businesses by Phil Harris on 24th February , 2022

Chancellor’s freeze to pull 5m into income tax net More than 5m lower-paid workers who currently pay no income tax will be pulled into the system over the next four years if inflation remains high, forcing them to [...] continue reading

posted in Business advice for motorsport businesses by Phil Harris on 23rd February , 2022

Our tax system is hopelessly unbalanced. 24 million people pay 20% tax and contribute one third of all income tax. 3 million people pay 40% tax and contribute one third of all income tax. 300,000 people [...] continue reading

posted in Business advice for motorsport businesses by Phil Harris on 22nd February , 2022

GDP bounce leads to bets on 2% rates Markets are pricing in an interest rate of 2% by the end of the year after official figures showed GDP rebounded last year to grow by 7.5%. Although it marks a healthy bounceback, it[...] continue reading

posted in Business advice for motorsport businesses by Phil Harris on 21st February , 2022

UK’s small business support scheme suffers slow take-up The Government’s Help to Grow programme – a scheme designed to boost productivity among SMEs – has only signed up 2,500 companies, less than[...] continue reading

posted in Business advice for motorsport businesses by Phil Harris on 18th February , 2022

NICs hike is ‘small fry’ compared to tax rises to come The Resolution Foundation has warned that the increase in NICs is small beer compared with the tax hikes that will be required to fund the Government&rsq[...] continue reading