Date What’s Due 1/11/22 Corporation tax for year to 31/01/2022 unless quarterly instalments apply 19/11/22 PAYE & NIC deductions, and CIS return and tax, for month to 5/11/22 (due 22/11 if you pay electronically) 1/12/22 Corporation tax for year to 28/02/2022 unless quarterly instalments apply 19/12/22 PAYE & NIC deductions, and CIS return and tax, […]
Surrey accountancy firm TWP is calling on businesses that pay Corporation Tax to prepare for a rise in this tax on profits next year following the latest shift in the Government’s fiscal policy. Although original plans to increase the top rate of Corporation Tax to 25 per cent were initially shelved in September’s mini-Budget, they […]
Rapidly rising inflation has been pushing up the Bank of England’s (BoE) base rate at a historic pace in the last few months. The rate, set by the Bank’s Monetary Policy Committee (MPC), rose by 0.5 per cent in both August and September and currently sits at 2.25 per cent (at the time of writing). […]
During the mini-Budget, the former Chancellor, Kwasi Kwarteng, plans to “accelerate” reforms to the pensions charge cap. This move, he said, would help to “unlock pension investments” into UK assets and high-growth businesses. Under these new pension measures, the Government has brought forward plans that exclude performance fees from the 0.75 per cent charge cap on […]
Adding property investment into a wider portfolio has been a popular option for many savers for a number of years. However, now new buy-to-let landlords may face a challenge as lenders pull lower fixed-rate mortgage products from the market. At the end of September, some 37 lenders decided to remove existing mortgage products for buy-to-let […]
In his mini-Budget, former Chancellor Kwasi Kwarteng announced plans for Tax-Free Investment Zones across England. The Government says these new economic zones will drive growth by lowering taxes and freeing up planning to encourage development and business investment. What are the benefits? These zones will offer a number of advantages to the businesses that choose […]
Businesses now have less than half a year left to make use of the opportunities available to incorporate businesses under the super-deduction capital allowance. This Corporation Tax relief operates similarly to previous capital allowance schemes, helping companies to invest in new qualifying plant and machinery, but is perhaps more generous than any other scheme that […]
Much of the former Chancellor’s mini-Budget has now been repealed, but one ‘rabbit from the hat’ has been retained. In his speech on 23 September, Kwasi Kwarteng set out major changes to the thresholds for Stamp Duty Land Tax (SDLT), which have been retained by the incoming Chancellor Jeremy Hunt. Put simply, the thresholds for […]
R&D tax reliefs have supported hundreds of thousands of businesses to invest in innovation by cutting the amount of tax that they pay. However, from 1 April next year, there will be several changes to the rules surrounding R&D, which could affect how much relief you can claim. Expand eligible expenditure to data sets, cloud […]
From 11 October, the interest rates on late tax payments rise again in line with the Bank of England’s (BoE) latest base rate increase. The BoE increased the base rate by 0.5 per cent to 2.25 per cent in September, as a result of inflation. Due to this, the late payment and repayment interest rates […]
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