HMRC has decided to be a little bit nicer and cut the interest rate they charge on late tax payments. This comes after the Bank of England snipped the base rate down a tad, from 4.75% to 4.5%. From the 17th of February, if you’re late paying your taxes, you’ll be charged 7% interest instead […]

The post HMRC offers relief with interest rate tweak, but taxpayers still get a raw deal appeared first on Freelance Informer.

UK inflation has risen to 2.6% in the year to November 2024, driven by higher prices for fuel, clothing, and entertainment, according to the Office for National Statistics (ONS). This unwelcome news puts further pressure on freelancers and the self-employed already struggling with the rising cost of living. “These new inflation figures should act as […]

The post Inflation rises again, squeezing freelancer finances appeared first on Freelance Informer.

UK borrowing crisis: could taxpayers be spared with a shift in Treasury-BoE relations? The UK’s public finances have taken a worrying turn as the government recorded a deficit of -£16.6bn in September, significantly surpassing consensus estimates of -£10.3bn and the Office for Budget Responsibility’s (OBR) forecast of -£14.7bn. This deficit also marks an increase from […]

The post Trader says Reeves could make £22bn black hole “magically vanish” appeared first on Freelance Informer.

The Bank of England opted to keep interest rates unchanged at 5.25% on May 8th, 2024, marking the sixth time in a row the Monetary Policy Committee (MPC) has maintained the rate. This decision comes as inflation remains above the Bank’s 2% target, currently sitting at 3.2%. While inflation has shown signs of receding, the […]

The post Only 1 to 2 interest rate cuts expected in 2024 as Bank of England holds at 5.25% for 6th consecutive meeting appeared first on Freelance Informer.

OPINION Great Britain needs a consumer spending barometer we can all relate to (and afford) Did you know that The Bank of England uses transactions from coffee chain Pret a Manger to gauge consumer spending and economic activity? “Pret” as it is commonly referred to, is used as an economic indicator because it has a […]

The post Bank of England and Greggs need to talk appeared first on Freelance Informer.

The US Federal Reserve is raising the interest rate paid on reserve balances to 5.15 per cent, effective May 4, 2023. The move is likely to spark an interest hike announcement in the UK according to several news reports. Central banks are preparing for more systemic risks in the banking sector following the collapse of […]

The post The US Fed has upped its interest rate, can we expect the same for the UK if more US banks tank? appeared first on Freelance Informer.

Many small businesses in the UK will bank with the same outfit for both their personal and business affairs thinking their personal and business deposits are protected under the Financial Services Compensation Scheme (FSCS). But that could be a serious mistake depending on your company structure, especially in a post-Brexit world. The Freelance Informer reports. […]

The post Millions of business deposits could be unprotected under savings comp scheme – time to shop for a new bank? appeared first on Freelance Informer.