Following the reduction in the Bank of England base rate, HM Revenue & Customs (HMRC) have confirmed that their interest rates will be reduced accordingly.
Late payment interest will reduce to 7% from 7.25%. Repayment interest – paid on tax repayments – will be reduced to 3.5%.
The change will come into effect from:
-17 February 2025 for quarterly instalment payments.
-25 February 2025 for non-quarterly instalments payments.
See: https://www.gov.uk/government/news/hmrc-late-payment-interest-rates-to-be-revised-after-bank-of-england-lowers-base-rate--2
The Department for Work and Pensions (DWP) has launched a national campaign to offer UK businesses access to no-fee specialist recruitment support through Jobcentre Plus. The service is available to all businesses, regardless of size or sector.
From 18 November 2025, identity verification with Companies House will start to be required for company directors and People with Significant Control (PSCs). The measure is intended to improve the reliability of information on the UK’s company register and support efforts to reduce economic crime.
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