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HMRC interest rates for late payments will be revised following the Bank of England interest rate rise to 4%.
The Bank of England Monetary Policy Committee announced on 2 February 2023 to increase the Bank of England base rate to 4% from 3.5%.
HMRC interest rates are linked to the Bank of England base rate.
As a consequence of the change in the base rate, HMRC interest rates for late payment and repayment will increase.
Information on the interest rates for payments will be updated shortly.
HMRC interest rates are set in legislation and are linked to the Bank of England base rate.
Late payment interest is set at base rate plus 2.5%. Repayment interest is set at base rate minus 1%, with a lower limit - or ‘minimum floor’ - of 0.5%.
The differential between late payment interest and repayment interest is in line with the policy of other tax authorities worldwide and compares favourably with commercial practice for interest charged on loans or overdrafts and interest paid on deposits.
The rate of late payment interest encourages prompt payment and ensures fairness for those who pay their tax on time, while the rate of repayment interest fairly compensates taxpayers for loss of use of their money when they overpay.
Credit: https://www.gov.uk/government/news/hmrc-late-payment-interest-rates-to-be-revised-after-bank-of-england-increases-base-rate--10
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integrity, professionalism and accountability at every level.
That is why, following new information which came to light in recent days regarding your personal financial arrangements and declarations, I asked Sir Laurie Magnus, the Independent Adviser on Ministers’ Interests, to fully investigate this matter. You agreed and undertook to cooperate fully with the inquiry.
Following the completion of the Independent Adviser’s investigation – the findings of which he has shared with us both – it is clear that there has been a serious breach of the Ministerial Code. As a result, I have informed you of my decision to remove you from your position in His Majesty’s Government.
As you leave, you should be extremely proud of your wide-ranging achievements in government over the last five years. In particular, your successful oversight of the COVID-19 vaccine procurement and deployment programme which ensured the United Kingdom was at the forefront of the global response to the coronavirus pandemic. Your role was critical to ensuring our country came through this crisis and saved many lives. And as the Conservative Party Chairman, you have undertaken significant restructuring to Conservative Campaign Headquarters and readied us for important work in the coming months.
It is also with pride that I, and previous Prime Ministers, have been able to draw upon the services of a Kurdish-born Iraqi refugee at the highest levels of the U.K. Government. That is something which people up and down this country have rightly valued.
I know I will be able to count on your support from the backbenches as you continue to passionately and determinedly serve your constituents of Stratford-on-Avon and represent the many issues and campaigns you are dedicated to. Thank you for your service to this and previous governments.
Credit: https://www.gov.uk/government/publications/advice-from-the-independent-adviser-on-ministers-interests-january-2023/letter-from-the-prime-minister-to-the-rt-hon-nadhim-zahawi-29-january-2023
Following the review of the latest risk assessment from the UK Health Security Agency (UKHSA), Nigeria and the other 10 countries and territories on the red list will be removed from 4 am Wednesday 15 December.
Passengers arriving from Nigeria, Angola, Botswana, Eswatini, Lesotho, Malawi, Mozambique, Namibia, South Africa, Zambia, and Zimbabwe will not have to stay in a managed quarantine hotel on arrival in England from this date.
As Omicron cases rise in the UK and in countries around the world, the travel red list is less effective in slowing the incursion of the variant from abroad and these temporary measures are no longer proportionate. The red list has successfully served its purpose in delaying the spread of Omicron into the UK to buy time for scientists to learn more about this variant.
All vaccinated passengers arriving in the UK must continue to take a pre-departure test two days or less before they depart for the UK and must take a PCR test on or before day 2 and self-isolate until they receive a negative result. These testing measures are vital in helping to prevent any additional cases of Omicron from entering the UK and stopping people from passing it on to others.
This is a critical phase in tackling the Omicron and the Government's focus remains on slowing the spread of the variant in the UK – through maintaining testing requirements at the border, through the introduction of Plan B measures, and by turbocharging the booster rollout.
British High Commissioner to Nigeria, Catriona Laing CB said:
"On Tuesday 14th December, UK Ministers made the decision – based on scientific and public health data – to remove Nigeria from the UK's travel red list. The emergence of the Omicron variant is a reminder that the COVID-19 pandemic is not over, and like all countries around the world the UK has had to take difficult decisions to protect public health.
We took this necessary precautionary action to give us time to understand the challenge we and others faced, and to slow down the spread of Omicron while scientists urgently assessed what impact the variant has on vaccines, treatments and transmissibility. When we announced the heightened restrictions we made clear that we would remove them as soon as we could, and that is the decision Ministers have taken today.
I know this will be welcome news for students, tourists, businesses and families in the UK and Nigeria, although I recognise the impact that these temporary health measures have had."
Health and Social Care Secretary Sajid Javid said:
"The red list bought our scientists time to learn more about Omicron and to slow the seeding of the variant from abroad into the UK. Now that there are high levels of community transmission, it is right to remove the red list and focus on our national effort to tackle Omicron.
"With cases doubling every two to three days we've turbocharged our booster programme, we're asking arrivals to keep testing to limit the spread of new cases, and we are introducing Plan B measures to protect the country from the threat of this new variant."
While all countries have now been removed from the red list, the managed quarantine hotel policy remains in place to act as a crucial line of defence against the importation of variants of concern. Restrictions will be re-imposed should there be a need to do so to protect public health.
Airlines will continue to check all passengers for pre-departure tests alongside their completed Passenger Locator Form, and passengers will not be allowed to board a flight without providing evidence of a negative test result.
The government will take further action if necessary to contain the virus and the new variant, as has been the case throughout the pandemic. The UKHSA continues to monitor the situation closely, in partnership with scientific and public health organisations across the world, and the government is working collaboratively with the World Health Organisation and countries around the world to better understand the new variant.
For more information, please check our travel advice: Travel to England from another country during coronavirus (COVID-19) - GOV.UK (www.gov.uk)
British nationals in Nigeria should check Foreign, Commonwealth and Development Office (FCDO) travel advice https://www.gov.uk/foreign-travel-advice/nigeria and follow local guidance.
The FCDO will continue to offer tailored consular assistance to British nationals in country in need of support overseas on a 24/7 basis.
If you are a British National in Nigeria and require Consular Assistance please use our online contact form: www.gov.uk/contact-consulate-abuja or www.gov.uk/contact-consulate-lagos. Our consular team can also be contacted on + 234 (1) 277 0780/0781/0782 (Lagos) Or +234 (9) 4623100 (Abuja).
Gov. Samuel Ortom of Benue on Tuesday inaugurated the State House of Assembly Service Commission.
Ortom, while inaugurating the commission in Makurdi said, it was to ensure smooth administration and running of the House including recruitment, promotion and discipline of staff.
He enjoined members to be guided by the extant laws governing the commission and also charged them to be committed, conscientious and patriotic in all their dealings with the staff and the public.
He thanked the lawmakers, particularly the Speaker, Mr Titus Uba for the expeditious approval of the commission members.
He listed members of the commission to include, Dr Sylvester Atachin as Chairman, Mr Benjamin Dowgo, while Mr Terseer Tsumba, Mr Avine Agbom and Mr Ezekiel Adaji will serve as members.
“As pioneers, you have the task of laying the foundation on which future the commission members would build.
“You have been appointed based on your previous experience, competence and adherence to the doctrine of fair representation.
“It is important to note too that your appointment is a four-year mandate, which may only be renewed once.
“Let me emphasise that the commission cannot afford to function as an island, but shall have a harmonious working relationship with the National Assembly Commission, the State Civil Service Commission and the leadership of the House among others for optimal results,”he said.
He expressed happiness that a milestone has been achieved during his tenure as governor of the state and under the leadership of Uba as speaker.
“It is my belief, therefore that the autonomy of the legislature is for administrative convenience and will not stop us from continuing to work together in harmony.
“As a matter of fact, it should accentuate the mutual respect and co-operation between the two arms of government for the overall good of Benue people and the nation,”he said.
Atachin thanked the governor for finding them worthy of the appointment and pledged members unflinching support for his administration.
Edited By: Remi Koleoso/Ali Baba-Inuwa (NAN)
Gov. Godwin Obaseki announces resignation from All Progressives Congress (APC) after a visit to Presidential Villa, Abuja
Gov. Ifeanyi Ugwuanyi of Enugu State on Monday ordered the total overhauling of facilities in the General Hospital, Agbani, Nkanu West Local Government Area of the state.
Ugwuanyi gave the order when he inspected the new structure at the hospital and the state of facilities existing in the hospital.
The governor said that his administration would deploy the essential materials and manpower to ensure the full operation of the facility.
He said the action was in line with his administration’s resolve to upgrade health facilities in the state for the well being of the people.
Ugwuanyi also inspected the reconstruction of the Colliery Hospital, Enugu, and construction of new structures at the hospital, now designated as an Infectious Disease Isolation and Treatment Centre.
It would be recalled that Ugwuanyi administration last week, awarded multiple contracts for construction and rehabilitation of health facilities across the state.
The contracts include new Primary Health Care Centres in seven LGAs, rehabilitation of 34 health facilities across the 17 LGAs, upgrade and rehabilitation of General Hospital Ogrute, Enugu Ezike and Nsukka District Hospital, among others.
Present during the inspection in Agbani were member representing Nkanu East, West federal constituency in the House of Representatives, Mr Nnolim Nnaji, and the member representing Nkanu West in the State House of Assembly, Mr Iloabuchi Aniagu.
Others included the Nkanu West LGA Chairman, Chief Nwabueze Nnamani, the Permanent Secretary State Ministry of Health, Dr Ifeanyi Agujiobi, among others.
Edited By: Kamal Tayo Oropo/Maureen Atuonwu (NAN)
Gov. Ahmadu Fintiri of Adamawa says his doors are always open for constructive advice that will move the state forward.
Fintiri declared this at the inauguration of members of Adamawa State Fiscal Responsibility Commission, Adamawa State Local Government Service Board and Adamawa State Pension Board on Monday in Yola.
The governor reiterated that his administration was transparent and all inclusive for the development of the state.
“My doors are always open and you are free to approach me for meaningful advice that will move our dear state forward.
“For you, the newly inaugurated Chairmen and Members of Boards and Commissions, I challenge you to initiate reforms and policies that will promote accountability and discipline in the state service sector,” Fintiri said.
He urged the appointees to bring out their best to resharpen relevant reforms in their various offices for the benefit of the service and greater Adamawa.
Responding on behalf of the appointees, the Chairman, Local Government Service Board, Mr Piton Power, assured the governor of their unshaken support and loyalty.
“We assure you that we are going to discharge the duties reposed on us diligently and with distinction,” Power said.
He thanked the governor for giving them the opportunity to serve the people of the state and pledged to bring enormous changes that would move the state forward. (NAN)
Edited By: Chioma Ugboma/Muhammad Suleiman Tola (NAN)
The Deputy Governor of Edo, Mr Philip Shaibu, on Monday in Benin, appealed to residents to continue to protect the elderly from contracting the COVID-19 pandemic.
Shaibu made the appeal while receiving a set of respiratory ventilators from Hartland Nigeria Limited for the COVID-19 isolation centre in Auchi.
“Statistics have shown that people above 60 years and those with underlying ailments are more vulnerable to the virus.
“I call on residents to continue the use of face masks and maintain proper hygiene to remain safe.
“Government is making frantic efforts to flatten the curve of the spread of the virus in the state, while recovery rate has remained steady and encouraging,” Shaibu assured.
The deputy governor then ordered the state Commissioner for Health, Dr Patrick Okundia, to ensure that the ventilators were installed immediately and put into use.
Presenting the items, the Area Manager of Hartland Nigeria Limited, Mr Elias Jouni, said that the donation was part of the firm’s contributions to the development of the state and ensuring the provision of quality healthcare for COVID-19 patients.
Edited By: Oluyinka Fadare and (NAN)‘Wale Sadeeq
Gov. Oluwarotimi Akeredolu of Ondo State has disclosed that the state recorded 30 new positive cases of COVID-19 in one week.
Akeredolu made the disclosure on Monday in Akure during a press briefing on the deadly pandemic in the Government House.
He said that 11 of the new cases were in Okitipupa Local Government Area, while seven were health workers, who contracted the virus at a private hospital in the area.
“This is a frightening and embarrassing situation which tells us that COVID-19 is at our doorstep.
“We have a total of 73 confirmed positive cases, 33 treated and discharged, 31 active cases and nine deaths.
“Some arrests were made yesterday, while vehicles were also impounded because they were outside after the 7 p.m. curfew,” he said.
Edited By: Muftau Adediran/Grace Yussuf (NAN)
Gov. Oluwarotimi Akeredolu of Ondo State, on Monday, said a total overhaul of the state fire service would ensure improved service delivery.
Akeredolu made this disclosure in Akure during an inspection of the scene of a fire disaster at Oba Nla area in Akure metropolis.
The News Agency of Nigeria reports that a fire outbreak, which occurred around the area on Sunday night razed five shops.
The governor explained that the total overhaul would also ensure that security of property and lives would be enhanced due to rapid response by the fire service team.
Akeredolu further explained that the State Emergency Management Agency would be mandated to assess the level of damage with a view to compensating the victims.
“Nobody knows what caused this. There was no electricity and all the shops were closed because it was night time.
“There should be equipment which will ensure that the fire servicemen will be able to do their job effectively and timely too. Fire service is a must,” he said.
Earlier, an eyewitness, who is one of the shop owners, Chukwuma Chinoso, expressed shock on the incident because there was power outage before the incident.
“None of the shops was selling gas or flammable commodities, and with the power outage, it could not have been an electric spark.
“We called the fire servicemen severally, but they said they had no water, logistics and even fuel,” he said.
The man further said the neighbours and victims tried to put out the fire but were unsuccessful because the fire was already raging before they were aware of it.
Edited By: Chioma Ugboma/Yemi Idris-Aduloju (NAN)
