Dear All, Jeremy Hunt’s Budget was probably less shocking than some feared. That said the increase in corporation tax to 25% (from 19%) will be quite a big change for many of our clients, along with the increased tax rate on dividends that was introduced this year. The top rate of tax on distributed profits […]
Author Archives: Milne_Craig
Following the U-turns…. we have arranged for our Budget summary to be updated!. Click here – 2022 Kwarteng Budget v2 No doubt we will have more to add once Scotland’s 2023 tax rates etc. are known….. THANKS
Dear All Friday’s mini-budget has created quite a “splash” in the tax community and no doubt the debate about the wisdom of this will last for many years. For those in Scotland, we will have to wait to see how the Scottish Government responds to the changes – the Stamp Duty Land Tax and Income […]
Our firm will provide a full Budget analysis next week. However, in the meantime there are a few highlights here – Income Tax & NIC Reductions – The UK (non-Scottish) basic rate of income tax will be cut from 20% to 19% from April 2023. The additional tax rate of 45% will be abolished leaving […]
Dear All, Our Autumn Newsletter is here with some interesting comments on Swapping salary for an electric car Gift Aid Top 5 VAT mistakes We hope you enjoy it. CLICK HERE : – 2022 Autumn Newsletter The new Chancellor promises some exciting changes this week (23/09)… . no doubt we’ll be posting again. Best wishes. […]
Abuse of the Bounce Back Loan scheme is continuing to land people in court as the Insolvency Service tightens its net around those who have misused the cash designed to help businesses during the pandemic lockdowns. Five individuals have separately been made subject to bankruptcy restrictions totalling 48 years for exploitation of the initiative, which […]
HMRC has been at the forefront of the government’s response to the coronavirus (COVID-19) and the extraordinary challenges being faced by millions of individuals and businesses. According to HMRC: The department successfully developed and implemented schemes at unprecedented speed to deliver financial support to more than 12 million employed and self-employed workers via the Coronavirus […]
It may surprise many smaller employers with staff working from home that they still have health and safety responsibilities. The following notes published by ACAS should be considered: Employers should: talk to their employees and workers about how they might improve working from home arrangements continue to consider which roles and tasks can be done […]
There has been the usual political speculation that taxes will be increased in the forthcoming budget to pay for COVID grants and support. Leaving aside the economic arguments for and against, what planning adjustments can we make now assuming that business taxes will increase? Corporation tax It has been rumoured that corporation tax (CT) will […]
Government is to implement a new payment for people on low incomes in areas with high rates of COVID-19, who need to self-isolate and can’t work from home. Payments of up to £182 to be made to people who have tested positive for COVID-19 and their contacts. The scheme will start in Blackburn, Darwen, Pendle, […]