Budget 2021 Review- Introduction The Chancellor Rishi Sunak presented his second Budget on Wednesday 3 March 2021. In his speech he stated his Budget ‘meets the moment with a three-part plan to protect the jobs and livelihoods of the British people’. Main Budget proposals Tax measures include: a super-deduction for companies investing in new plant ... Read More
Table of contents on this page Coronavirus loan schemes Restart Grants Self-Employment Income Support Scheme (SEISS) Business rates Rates review Reduced VAT rate for hospitality sector Corporation tax rates Tax losses Super-deduction First year allowances for business cars from April 2021 Freeports Customs benefits Tax benefits Research and Development (R&D) tax relief Budget 2021 Review ... Read More
Table of contents on this page The Coronavirus Job Retention Scheme (JRS) Further extension of JRS Apprenticeships and traineeships High quality traineeships for young people Payments for employers who hire new apprentices Supporting apprenticeships across different employers National Living Wage (NLW) and National Minimum Wage (NMW) Enterprise Management Incentives (EMI) scheme Van benefit charge nil-rating ... Read More
Budget 2021 Review – Personal Tax Table of contents on this page The personal allowance The marriage allowance Tax bands and rates Scottish residents Welsh residents Tax on savings income Tax on dividends Universal Credit Working Tax Credit Mortgage guarantee scheme Green National Savings and Investment (NS&I) product Venture Capital Schemes: extension of the Social ... Read More
Budget 2021 Review – Capital Taxes Capital gains tax (CGT) rates No changes to the current rates of CGT have been announced at Budget 2021. 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 ... Read More
Table of contents on this page Land and buildings transaction taxes Budget announcement Wales – Land Transaction Tax SDLT surcharge Plastic Packaging Tax Van Vehicle Excise Duty (VED) Reform of penalties for late submission and late payment of tax Contactless payment card limit Budget 2021 Review – Other Matters Land and buildings transaction taxes Land ... Read More
Updates from GOV.UK Coronavirus (COVID-19) For more information about each update click on the article heading to access the GOV.UK website information directly. How to complete the educational setting status form Page summary: This data will help the government monitor the impact of coronavirus (COVID-19) on settings, focus support more effectively and keep children safe. ... Read More
Coronavirus: relaxation of the statutory annual leave rules HOLIDAYS Regulations have taken effect which amend the Working Time Regulations 1998 to relax the current restriction on carrying forward untaken annual leave. What’s been amended and why? Under the Working Time Regulations 1998 (WTR), workers have a statutory right to 5.6 weeks’ paid annual leave. The ... Read More
CORONAVIRUS Covid -19 Self-Employed Update Are your self-employed clients eligible for the 80% grant CORONAVIRUS The government has confirmed that the self-employed will receive financial support if their business has been affected by coronavirus. Are your clients eligible and how can you help them? Who can get the grant? Self-employed individuals or members of a ... Read More
CORONAVIRUS Covid -19 General Update Wednesday, 25th March 2020 THE HOT STORY Businesses to be given an additional 3 months to file accounts A joint initiative between the government and Companies House means that businesses will from today be able to apply for an additional 3 months to file accounts. The move is designed ... Read More
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