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Temporary measures that have given a huge boost to high streets and hospitality during the pandemic could be made permanent following a public consultation launched in September 2021. From
The Chancellor of the Exchequer, Rishi Sunak has confirmed that the next UK Budget will take place on Wednesday, 27 October 2021. This will be the Chancellor’s third Budget and the first one
The government has confirmed that its triple-lock guarantee on pensions is to be abandoned for one year. The guarantee was first introduced in 2010 and has remained in place until now. This
The government has announced new plans to cap social care costs in England from October 2023. This change is expected to see the introduction of a new £86,000 cap on care costs across an
HMRC has, for many years, accepted that associate dentists are generally treated as self-employed. These agreements have been approved by the British Dental Association (BDA) and the Dental
It is important to bear in mind that the 1.25% increase in National Insurance contributions (NICs) for 2022-23 will apply to National Insurance Class 1 and Class 4 contributions from April
There are a number of reasons why a taxpayer needs to complete a Self-Assessment return. This includes if they are self-employed, a company director, have an annual income over £100,000 and
The Equality and Human Rights Commission (EHRC) confirmed in February 2021 that enforcement action against employers for failing to report their gender pay gap data for the last reporting
HMRC’s Personal tax accounts (PTAs) were launched in 2015. The service works as an online resource to allow taxpayers to review and update their details in real time. For many routine
If you think that you have paid too much tax to HMRC you can usually claim back any overpaid tax. The exact method for making a claim depends on a number of factors including whether or not
Taxpayers entitled to the child benefit should be aware that HMRC usually stop paying child benefit on the 31 August on or after a child’s 16th Birthday. Under qualifying circumstances, the
There are special VAT rules that allow businesses to standard rate the supply of most non-residential and commercial land and buildings (known as the option to tax). This means that
As children have returned to school, HMRC is reminding parents that they may be eligible for Tax-Free Childcare (TFC) to help pay for breakfast and after school clubs. The TFC scheme can
The Prime Minister announced increases in National Insurance Contributions (NIC) of 1.25% from April 2022, to contribute to increases in the NHS and social care budgets. The increases will
The 1,25% increase in NIC contributions from April 2022 will be mirrored by a similar increase in the tax charge on dividends. From April 2022, the dividend tax increases will apply as
Gift Hold-Over Relief is effectively a deferral of Capital Gains Tax (CGT) when assets are given away (including certain shares) or sold for less than they are worth to help benefit the
If you are a higher rate or additional rate taxpayer, you are eligible to claim relief on the difference between the basic rate and your highest rate of tax. The charity you donate to can
There are a number of options open to taxpayers who disagree with a tax decision issued by HMRC. It is important to note that not all decisions by HMRC can be appealed against. There is
Companies use incentive award schemes to encourage their employees in various ways. For example, to sell more of their own goods and services. The award can be in various forms including
HMRC publishes a list of income streams that are excluded from a UK property business. The list includes fishing concerns, hotels and guest houses, tied premises, caravan sites, lodgers and
The scope and legal basis of how VAT is charged on taxable supplies is defined as follows in the VAT Act 1994: VAT shall be charged on any supply of goods or services made in the United
1 September 2021 - Due date for Corporation Tax due for the year ended 30 November 2020. 19 September 2021 - PAYE and NIC deductions due for month ended 5 September 2021. (If you pay your
There is no requirement to report certain routine expenses to HMRC. The types of expenses and benefits covered are referred to as exemptions and have replaced dispensations which can no
The annual allowance for tax relief on pensions is currently set at £40,000. The annual allowance is further reduced for high earners. This means that if your income is in excess of £240,000