Last year, the government introduced a new reporting requirement for UK residents disposing of residential property on or after 6 April 2020. Where a capital gains tax (CGT) charge arises, taxpayers now need to submit a return (UK property CGT return) to report the disposal of UK residential property and make a payment on account....
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....
Late last month it was announced that MTD for income tax self-assessment (MTD ITSA) would be postponed (again) to April 2024. The most concerning part is that more people are likely to be aware for the delay than know about MTD itself. Hence why we have decided to highlight this in today’s blog. ....
When announcing the last budget, the Government said they were expecting the economy to have sufficiently recovered by the end of September and as a result are ending the furlough scheme on 30th of this month. The final month of the scheme allows claims of up to 60% of the employee’s usual pay with....
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....
The beginning of September always brings a new routine for parents as children start going back to schools and nurseries. With that, more employees are going back to work full time due to the withdrawal of CJRS support and less working from home as more of the country receive their vaccinations. For these....
As promised from a previous budget, the Help To Grow Management programme has now been launched. The idea behind the 12-week programme is that increased productivity with create growth for businesses and in turn help the UK’s economic recovery. Following a tough 18 months, the new government course (which is partly subsidised) aims....
HMRC have recently announced that thousands of people are failing to declare pension tax charges which could result in large tax bills. This can lead to an unexpected and costly tax bill. It is assumed that many people who put money into their pension each year are unaware of the declarations they need to make....
In July of last year, an emergency budget was announced which saw Rishi Sunak introduce a temporary 5% rate of VAT which applied to most supplies made by the hospitality sector. This included cafes, restaurants, pubs, hotels, tourist attractions and more. This 5% rate has been applicable ever since but will increase to 12.5%....