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....
With the UK Government’s ambitious plans to accomplish net zero emissions by 2050, the general public and businesses must play their part. Tax incentives to encourage people to make a change have been introduced and with our brand-new electric charging point at the office, electric vehicles are a great place to start. Last month....
Today, 6th April, marks a new tax year and with that comes new thresholds for National Insurance purposes. We have detailed the different rates which apply depending on an individual’s situation during the 2021/22 tax year. Employed Employees pay Primary Class 1 National Insurance on their earnings. On those same earnings, Employers contribute....
Presents and parties in a virtual world seems a lot different to 2019 but other than planning your creative Christmas quiz, not too much has changed. This year has brought about enough uncertainty, so make sure you are certain about the tax rules surrounding your festive generosity. Gifts Many employers like to....
2 years ago, the annual investment allowance increased from £200.000 to £1,000,000 for a limited time. That was due to end on 31st December 2020 but it has recently been announced that the £1 million pound cap has been extended until 1st January 2022 in a bid stimulate investment in UK manufacturing. ....
Coronavirus: Winter Economic Plan… Boris Johnson announced new coronavirus restrictions on Tuesday which could last six months. Following this announcement Chancellor Rishi Sunak delivered a statement on Thursday setting out plans to help workers and businesses hit by these new coronavirus restrictions. If you have any concerns, general queries, or specific questions on....
Coronavirus: Self Employed Income Support Scheme – Round 2… While the first round of Self Employed Income Support Scheme (SEISS) grants is running to a close in the coming weeks, the scheme has been extended with a second (and final) round of grants scheduled to be made available in August. This second round....
Coronavirus: Self Employed Income Support Scheme Update… HMRC has begun contacting taxpayers who may be eligible for the Self-employment Income Support Scheme (SEISS) this week. The communication received from HMRC includes instructions for when the claim portal opens. Do not worry if you have not yet received communication from HMRC. Information is....
Coronavirus: Working from Home… Sowerby, like many other firms, have been doing a lot more working from home since the start of the Covid-19 outbreak. Use of the acronym ‘WFH’ might have brought you confused looks a few weeks ago, but seems part of everyday language now. While that brings up a....
Coronavirus: Self Employed Income Support Scheme – Frequently Asked Questions… I work in construction as a subcontractor. My site is still open, and I have been informed I should be attending work. I have no underlying health issues but do not feel safe attending site. Where do I stand? There has been no....