Autumn Budget 2021 – Capital Taxes Capital gains tax (CGT) rates No changes to the current rates of CGT have been announced. This means that the rate remains at 10%, to the extent that any income tax basic rate band is available, and 20% thereafter. Higher rates of 18% and 28% apply for certain gains, ... Read More
Autumn Budget 2021 – Employment National Insurance Contributions (NICs) In September 2021 the government published its proposals for new investment in health and social care in England. The proposals will lead to a permanent increase in spending not only in England but also by the devolved governments. To fund the investment the government will introduce a ... Read More
Autumn Budget 2021 – Personal Tax The personal allowance The personal allowance is currently £12,570. The Chancellor announced in the March 2021 Budget that the personal allowance will be frozen at £12,570 for the tax years 2022/23 to 2025/26. There is a reduction in the personal allowance for those with ‘adjusted net income’ over £100,000. ... Read More
Autumn Budget 2021 – Other Matters Tonnage Tax The UK’s tonnage tax regime will be reformed from April 2022 to help the UK shipping industry grow and compete in the global market. The reform is intended to make it easier for shipping companies to move to the UK, ensure they are not disadvantaged compared with ... Read More
This is a message from HMRC’s help and support email service Actions for you – final Job Retention Scheme claims Dear customer, I’m writing to you with the latest information about the closure of the Coronavirus Job Retention Scheme (CJRS) and the Statutory Sick Pay (SSP) Rebate scheme. 1. The Coronavirus Job Retention Scheme 2. Reporting ... Read More
Government delays MTD for income tax and basis period reform Making Tax Digital for Income Tax Self-Assessment Following vocal representation from various professional bodies, the government has agreed to delay crucial reforms to the tax system. What’s the full story? Income Tax Self-Assessment On 23 September 2021 the secondary legislation for implementing Making Tax Digital ... Read More
How will the new 12.5% VAT rate affect businesses? On 1 October 2021 a new VAT rate of 12.5% will be introduced for most sales made by a hospitality business. How will businesses need to deal with the rate change in their purchase records and what savings can be made using the tax point rules? ... Read More
NI rates hiked – how much more will workers pay? MONTHLY FOCUS: NI RATES HIKED – how much more will workers pay? Earlier today (7 September) Boris Johnson announced that NI and dividend tax rates will be hiked to help fund social care, pay for coronavirus support measures and clear the NHS backlog. Who will ... Read More
MONTHLY FOCUS: PROVIDING TAX-FREE BENEFITS TO EMPLOYEES (PART 1) Tax-Free Benefits – 31.08.2021 Providing benefits that are exempt from income tax is a great way to reward employees in a tax-efficient way. Which benefits qualify for tax-free treatment? Making tax-free benefits available to employees Can an employer provide employees with tax and NI-free benefits? Although ... Read More
Dunham News Window Go directly to the News Window Window of News More than 2 Million news articles are published every day online… Now 2,000,001 The task of filtering out the big news articles, or important news for you is no easy task. Constantly Updated News We have updated the way we compile our news ... Read More
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