A new fuel finder scheme to enable drivers access to live fuel prices and revitalise competition in the retail road fuel market, according to the Competition and Markets Authority (CMA).
The scheme would be made possible by new compulsory open data requirements and backed by a new 'fuel monitor' oversight body.
HMRC has increased interest rates with late payment bills charged 7.5% from 11 July, the highest rate since 2001.
The move follows the Bank of England's June increase in the base rate with HMRC also increasing the rate paid on repayments of tax.
The Bank increased the base rate to 5% from 4.5% on 22 June, the 13th consecutive rise.
The UK's interest rate has been raised to 5.25% by the Bank of England, as it continues to try and bring inflation under control.
The Bank’s Monetary Policy Committee increased the rate by 0.25% from 5% - the 14th increase in a row.
It is a 15-year high for the base rate, which was last at this level in April 2008.
The UK's rate of inflation plateaued at 8.7% in May, data published by the Office for National Statistics (ONS) has shown.
Inflation was expected to fall in May but remained at 8.7% – the same rate as was recorded in April. The rate of 8.7% is higher than economists had expected, and many now anticipate a rise in interest rates.
A report published by the National Audit Office (NAO) has found that HMRC's Making Tax Digital (MTD) initiative is expected to cost around £1 billion more than its initial £226 million budget, which was forecast in 2016.
MTD is intended to modernise the tax system for income tax self assessment, VAT and corporation tax. It requires taxpayers to keep records digitally and submit quarterly tax returns.
HMRC is planning to close its self assessment tax helpline for three months over the summer to focus call centre resources on dealing with other problem calls.
All calls to the helpline will be redirected to digital services over the period to give HMRC time to deal with other more urgent phone enquiries.
HMRC has extended the voluntary national insurance contributions (NICs) deadline until 2025.
Extending the voluntary NICs deadline until 2025 will give people more time to consider whether paying voluntary contributions is right for them, and also ensures individuals do not miss out on the possibility of boosting their State Pension entitlements.
New company car advisory fuel rates have been published and took effect from 1 June 2023.
The guidance states: ‘you can use the previous rates for up to one month from the date the new rates apply’. The rates only apply to employees using a company car.
The advisory fuel rates for journeys undertaken on or after 1 June 2023 are: