Late payment interest rising in line with Bank of England base rate.
HMRC raises interest on tax debt
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Late payment interest rising in line with Bank of England base rate.
More than 2.9 million people claimed SEISS payments in the 2021/22 tax year.
Record numbers of late penalties charged despite high compliance levels.
Self-assessment taxpayers have until 31 October to file.
Taxpayers have until 31 January to file their return.
New framework will be mandatory from April 2024.
Employers are encouraged to check their calculations.
Crypto asset market capitalisation currently at $900bn.
Waiver for soft penalties to be removed by November.
Total tax breaks are down by a third on previous year.
The decision follows Bank of England’s base rate increase.
Changes will reflect the rise in interest rates
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