Savers Urged to Act Now on Tax Due on Interest

Savers urged to act now on tax due on interest

Those who have earned interest on their savings are being urged to act now and contact HMRC if they’ve not yet received a letter from the tax authority. Thousands of savers are putting themselves at risk of fines by not declaring owed tax on interest from savings. According to the Association of Taxation Technicians (ATT), recent estimates show that an additional 893,000 taxpayers will have to pay tax on their savings by 2028 to 2029 due to froz…

Mounting tax pressure – Why businesses must act early to avoid financial fallout

For many UK businesses, 2025 has brought more financial challenges than clarity. With tax arrears reaching unprecedented levels and additional cost pressures on the horizon, it’s becoming increasingly difficult for firms to stay ahead of their obligations. According to recently released figures from HM Revenue & Customs (HMRC), arrears across key business taxes, including Corporation Tax, VAT and PAYE, have reached an average of £28 billion per …

Are rising tax arrears putting your business at risk?

Businesses in the UK are facing increasing financial strain, with new data from HM Revenue & Customs (HMRC) showing that tax arrears have hit £28 billion per month on average across the first quarter of 2025. Unpaid Corporation Tax, VAT and PAYE liabilities are growing, and recent increases to National Insurance contributions (NICs) are expected to deepen the problem. Corporation Tax, VAT and PAYE debts reach new highs Freedom of Information dat…