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The latest tax, employment, business and economic news affecting firms and individuals alike. Updated each day.

HM Revenue and Customs (HMRC) has announced that people who overpay their taxes will be guaranteed a minimum of 0.5 per cent interest on the money.

The introduction of the new higher income tax rate will damage the economy, the TaxPayers’ Alliance has claimed.

Apprenticeships should be rewarded with a pay rise and should be given more government support, the Federation of Small Businesses (FSB) has argued.

People who have money in offshore accounts but have not disclosed the tax that may be owing are being given a second and final chance to settle their bills at a reduced penalty rate.

Businesses that delayed settling their tax bills under a scheme introduced by the government to help those struggling in the economic downturn are paying back the much of the money owed.

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