YOUR 2022 SELF ASSESSMENT RETURN NEEDS TO BE FILED ONLINE BY 31 JANUARY 2023 TO AVOID INCURRING ANY PENALTIES! Failure to file electronically by this date will result in a £100 fine in the first instance. Continued non-submission could also mean incurring further penalties. Are you putting off starting your return or sending information through....
Chancellor Jeremy Hunt delivered his Autumn statement on 17 November 2022. While there were a raft of economic announcements and detailed coverage on spending plans, we consider the key changes to tax rules below: Top Tax Rate The 45% tax rate stays in place with the Chancellor extending the reach of this tax rate,....
In April 2021, HMRC rolled out a scheme for employers of veterans to receive National Insurance relief. The scheme is designed to encourage employers to look again at the unique skills and experience that former members of the UK armed forces can bring to the workplace. This creates fresh opportunities and supports veterans in making....
The government has announced that it is changing the small company threshold for regulatory purposes in relation to staff numbers, which, it says, could remove 40,000 businesses from certain reporting regulations. Currently businesses with less than 50 staff on average face much simpler regulatory requirements than those businesses who exceed this staff number. ....
On Saturday 1st October 2022 the government’s new energy relief scheme came into force. Under the terms of the scheme the government will provide a discount on wholesale gas and electricity prices for all non-domestic customers. This will include UK Businesses, the voluntary sector and the public sector. The scheme will apply to variable contracts....
What is the new grant? On 21st December the Government announced additional support that would be made available to help businesses who have been impacted by the Omicron variant. The new grant is available to the hospitality, leisure and accommodation businesses that have and are still experiencing economic difficulties and will be issued as a....
As the season of presents and parties descends upon us, in person events are welcomed by many. Over the festive period there is a lot to be considered, we want to ensure that worrying about tax isn’t added to your ever-growing list. Events Most businesses have the same question ‘Is our Christmas party is....
We know the budget can usually be a little too much information in a short space of time. That’s why we always ensure we do a budget round up. The essence of the budget was to create a ‘stronger economy for the British people’ with the ‘levelling-up’ agenda. Four Fiscal Rules In the opening....
With COP26 just around the corner and The Waterline Summit 2021 taking place this week solidifying the importance of the Humber region on the UK’s journey to becoming carbon neutral, we thought this week’s blog was very topical. What is the Plastic Packaging Tax? The Plastic Packaging Tax (PPT) – will be introduced....
Following speculation in the media, the Government have confirmed that there will be in an increase in National Insurance Contributions (NIC) from April 2022. Unfortunately for many, it doesn’t stop there, with the rise also impacting employers and those who receive a dividend. What are National Insurance Contributions? The state benefit....