Spring Budget 2022 – Personal Tax The UK personal allowance, tax rates and bands for the tax year 2022/23 were announced by the Chancellor in the October 2021 Budget. The personal allowance The personal allowance is currently £12,570 and will be frozen at £12,570 for the tax years to 2025/26. There is a reduction in ... Read More
Spring Budget 2022 – Business Tax Making Tax Digital for Business: VAT April 2022 sees the final phase of the introduction of the Making Tax Digital (MTD) for VAT regime. All VAT registered businesses, regardless of turnover, will enter MTD for VAT from their first VAT return period starting on or after1 April 2022. Businesses ... Read More
Spring Budget 2022 – Employment Taxes Employer provided cars The scale of charges for working out the taxable benefit for an employee who has use of an employer provided car are normally announced well in advance. Most cars are taxed by reference to bands of CO2 emissions multiplied by the original list price of the vehicle. ... Read More
Spring Budget 2022 Capital Taxes Capital gains tax (CGT) rates The current rates of CGT are 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; mainly chargeable gains on residential properties with the exception of any element that ... Read More
Spring Budget 2022 – Other Matters VAT rates and limits The VAT registration and deregistration thresholds will remain unchanged for a period of two years from 1 April 2022. The six-month extension to the UK-wide VAT reduction to 12.5% for the tourism and hospitality sectors comes to an end on 30 March 2022 with rates returning ... Read More
New reporting requirement for FRS businesses HMRC’s latest Business Brief sets out the new rules which will apply for VAT return periods commencing on or after 1 June 2022. The change is needed to correct HMRC’s previous guidance regarding FRS-registered businesses that used postponed accounting for imports rather than paying VAT at the point ... Read More
HMRC provides further detail on late filing reprieve At the start of January 2022, HMRC announced an extension to the tax return penalty trigger dates. It’s now released further details concerning agents delayed due to COVID, partnership returns and more. What do you need to know? Agents. Many taxpayers use accountants or tax advisors (collectively ... Read More
Greater Manchester Clean Air Zone and Financial Support Scheme Financial Support Scheme Find out more Is My Vehicle in the Zone? Find out more Vehicle Funding Checker Find out more The Clean Air Zone To find our more visit the Clean Air GM website The Greater Manchester-wide charging Clean Air Zone is due to be ... Read More
Update from HMRC Dear customer, I am writing to tell you the government has announced additional economic support to help businesses most affected by the Omicron variant of coronavirus: • businesses in the hospitality and leisure sectors in England will be eligible for one-off grants of up to £6,000 per premises, and more than £100 ... Read More
A Merry Christmas from all of us here at Dunhams Office Opening times Our offices will be closed from Thursday 23rd December through to Tuesday January 4th 2022 Only limited email access during this period
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