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National Insurance
Taxpayers now have until 5 April 2025 to fill gaps in their National Insurance record from April 2006 that may increase their state pension – an extension of nearly two years.
Money laundering
HMRC fined 240 businesses £3.2m between 1 July and 31 December 2022 for breaching the Money Laundering Regulations.
Energy profits levy update
The Treasury has announced that the energy profits levy which puts a marginal tax rate of 75% on North Sea oil and gas production will remain in place until March 2028. The tax rate will fall back to 40% the rate before the levy was introduced when the oil and gas prices consistently return to normal levels for a sustained period.
VAT guide
HMRC has updated VAT Notice 700. It now reflects the introduction of VAT late submission and late payment penalties as well as the new interest regime.
Uzbekistan
Uzbekistan has joined...
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