Specialist Tax News

The Government will continue to support business capital investment by keeping the level of the 100% Annual Investment Allowance (AIA) at £1 million. This deduction is
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The Government will continue to support the Seed Enterprise Investment Scheme (SEIS), although we still await further detail. In the original 23 September 2022 statement, it
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It should be noted that there has also been a U-turn on the original 2-year cap on domestic gas and electricity tariffs. Instead, the cap will
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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
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On 23 September 2022, Kwasi Kwarteng, the new Chancellor (the fifth in as many years) delivered a Tax Cutting “Fiscal Event” or Mini-Budget to help boost
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The normal budget process is for the Office of Budget Responsibility (OBR) to report on the state of the UK economy at the time of the
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It was on 7 September 2021 that we first heard about a new 1.25% Health and Social Care Levy, imposed on employers, employees and the self-employed,
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Many director/shareholders of family companies pay themselves a small salary and take the rest of their “pay” in dividends. With dividends being free of NIC, this
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The previous Chancellor, Rishi Sunak, had dangled a possible cut in the basic rate of income tax from 20% to 19% from 2024/25. This will now
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In the March 2021 Budget, Rishi Sunak announced that the rate of corporation tax would increase to 25% from 1 April 2023 where a company’s profits
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Businesses investing in plant and machinery will welcome the decision to make the £1 million Annual Investment Allowance (AIA) permanent. This has been extended several times
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The much criticised “off-payroll” working rules were introduced for the public sector from 6 April 2017 and then extended to large and medium-sized private-sector organisations from
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