Maximise Profits, Minimise Taxes and Gain Invaluable Business Insights
After market turmoil and uncertainty, the new Chancellor resigned on Friday, 14th October. The new chancellor, Jeremy Hunt was appointed as his replacement. Many of the tax cuts originally announced in the mini budget have been reversed and we will outline these below. National Insurance National Insurance rates for employees and employers increased by 1.25% […]
The UK emergency budget – 17th October 2022 Read More »
The newly appointed Chancellor, Kwasi Kwarteng, announced a ‘mini budget’ on 23rd September 2022 under Liz Truss’ new Government. The mini budget was announced to set out the Governments key policies to help tackle the higher energy costs and inflation. Below we will be setting out details of the changes, which have been dubbed as
The UK mini budget – September 2022 and what it means for your business Read More »
The Chancellor, Rishi Sunak, announced the Governments Spring Statement on 23rd March 2022. We are releasing this information sheet as a summary of the changes announced. Additional information will be provided when more detailed information is released over the coming weeks. Tax Free Personal allowance The personal allowance will remain in the 2022/23 tax year
Spring Statement Update 2022 Read More »
Last month, the Prime Minister Boris Johnson announced an increase to national insurance rates to help raise an extra £12bn a year for health and social care. The announcement means that all rates of national insurance contributions (NIC) and income tax on dividends will increase by 1.25% from 6 April 2022. The announcement has many
What the National Insurance Increase Means for Businesses and Their Employees Read More »
With the Self Assessment deadline looming, many self-employed individuals who have encountered a difficult year due to the COVID-19 Pandemic have been offered a reprieve. In addition to the continuation of government support available under the Self-Employment Income Support Scheme (SEISS), HMRC is also offering to make things easier for those working for themselves. HMRC
How to Setup A Self Assessment Payment Plan Online Read More »
EMPLOYERS… with many of your staff working from home due to Covid 19, it is important you make your employees aware of a tax relief they can claim. Even if they had been working from home for just one day, they can claim tax relief for the WHOLE YEAR. The tax relief obtained is £62
Working From Home Tax Relief Read More »
Trivial Benefits There are benefits which an employer can provide to their employee’s tax free, which are known as trivial benefits. These do not require disclosure on P11D’s and will not attract the additional tax and national insurance which other benefits in kind do. For something to qualify as a trivial benefit it must meet
If you’re self-employed or a member of a partnership and have been adversely affected by coronavirus (COVID-19) find out if you can use this scheme to claim a grant. The scheme will allow you to claim a taxable grant of 80% of your average monthly trading profits, paid out in a single instalment covering 3
Self-Employment Income Support Scheme (SEISS) Read More »
March 27th – Update Scam emails, calls and texts from HMRC Please be aware that the government are advising of an increase in scam emails, calls and texts. If someone gets in touch claiming to be from HMRC, saying that financial help can be claimed or that a tax refund is owed, and asks you
COVID-19 Update (Self Employed & Job Retention Scheme) Read More »
Further to our original post regarding COVID-19, we are now writing with some additional information and a summary of further measure’s announced on Friday. It is important to note that it can take several days for the government to provide the necessary detail of each of the measures and therefore some of the questions you
Further update – COVID-19 Read More »