Late payment interest rate rises to 7%
Interest has doubled since May 2022.
One in five taxpayers will pay higher tax rate
Threshold freezes could see 7.8 million pay 40%.
Company insolvencies fall in April
Figures remain higher than pre-pandemic levels.
Economy fell by 0.3% in March
GDP grew slightly in Q1 of 2023.
Bank of England raises interest rates to 4.5%
Rate increases for 12th time since December 2021.