The Government has announced two changes to the tax advantaged Company Share Option Plan (CSOP) scheme. There is currently a maximum employee share option limit based on market value at grant of £30,000. This will be increased to £60,000 for any new options granted from 6 April 2023. Existing options are unaffected by this change. […]
Chancellors always like to pull rabbits out of the hat and make surprise announcements at the end of their Budget speech. Although rumoured in the run up to this mini-budget, the SDLT announcement was still a surprise as house prices have been steadily rising. Increases in mortgage rates are likely to slow the market so […]
Date What’s Due 1/10 Corporation tax for year to 31/12/21, unless quarterly instalments apply 5/10 Deadline for notifying HMRC of chargeability for 2021/22 if not within Self-Assessment and receive income or gains on which tax is due 19/10 PAYE & NIC deductions, and CIS return and tax, for month to 5/10/22 (due 22/10 if you […]
New data from has revealed that pension savers could be owed up to £6 billion from overpaid Stamp Duty Land Tax (SDLT). According to an analysis of tax records, hundreds of transfers of commercial properties into pension schemes may have triggered SDLT where the transactions were exempt from paying the tax. The House of Lords […]
Although the Help to Buy ISA may have closed, its legacy has been enjoyed by more than 17,500 first-time buyers, who have enjoyed over £35 million in bonuses this year. During its lifespan, the ISA has paid out 650,000 bonuses worth £750 million, which has helped first-time buyers to purchase 497,949 properties worth £87.7 billion […]
Savers now have access to a new type of hybrid pension scheme, which could help them improve their retirement returns. New Collective Defined Contribution (CDC) schemes are said to offer a useful “middle ground” between existing Defined Contribution and Defined Benefit schemes. What are the differences between defined contribution and defined benefit schemes? Defined Benefit […]
Surrey-based accountancy firm TWP has said many businesses will be pleased with the Chancellor’s support during the cost-of-living crisis. However, wider concerns persist about the potential for rocketing inflation, which could harm economic growth and heavily indebted businesses. Standing to address Parliament, Kwasi Kwarteng said the measures in his fiscal statement were “a new approach […]
The UK has seen a boom in the ownership of Furnished Holiday Lets thanks to the increase in staycations. As the summer holidays draw to a close many of us may be considering purchasing a holiday let to boost our income, but there are some very specific tax reliefs to consider when doing so. What […]
The Government could move to crack down on anyone providing accountancy services who is not professionally qualified. As the law stands there is no requirement for these individuals, who can set up and start advising clients, to have professional qualifications. High profile campaigns A survey by the Association of Accounting Technicians (AAT) and conducted by […]
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