2021 Budget and Spending Review

2021 Budget and Spending Review

On 27 October 2021, the Chancellor delivered his third Budget in conjunction with the Public Spending Review. Many of the spending announcements had already been leaked to the Press prior to Budget Day and arguably a lot of it was not new money. The Chancellor did...
Plan Your Actions Before the New Rates Come

Plan Your Actions Before the New Rates Come

The announcement of the 1.25% increase in NICs and tax on dividends has come more than six months before they take effect. This means that with careful planning there is time to reduce the impact of these new rates on your business. For example, employees could...
Big Tax Bills for the Self-Employed in 2022/23

Big Tax Bills for the Self-Employed in 2022/23

There are likely to be some big tax bills for the self-employed in 2022/2023. Last month we mentioned that draft legislation has been published to change the basis periods for the assessment of self-employed profits to coincide with the tax year. The proposed new...
The Last CJRS “Furlough” Grants

The Last CJRS “Furlough” Grants

(Image credit: Micro Biz Mag) The Government are pulling the plug on support to employers for furloughed staff at the end of September as they anticipate that the economy will be back to normal by October. The grant claims for employees furloughed in the month of...
Trading Loss Relief Can Be Claimed Early

Trading Loss Relief Can Be Claimed Early

Where a company makes a trading loss of no more than £200,000 in an accounting period it is now possible to claim relief for that loss even though the corporation tax return CT600 has not been submitted. This will enable the company to carry back the trading loss to...

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