Spring Statement – National Insurance Changes

Spring Statement – National Insurance ChangesThe Chancellor has announced in his Spring Statement that the income threshold at which point people start paying National Insurance will rise. From next month the threshold at which people begin to pay National Insurance will rise by £3,000 to £12,570, bringing it in line with the personal allowance threshold…

MTD for VAT legislation – 1st April 2022

Making Tax Digital For VAT – are you ready?All VAT registered businesses must now take the necessary steps to prepare for Making Tax Digital for VAT before it becomes mandatory on 1 April 2022. For the first VAT period beginning on or after 1st April 2022 all remaining VAT registered businesses – even those below…

Autumn Budget Summary 21Recent Budget 2021 Chancellor Rishi Sunak last week unveiled the contents of his most recent Budget in the House of Commons, setting out his taxation and spending plans as the economy recovers from the impact of the pandemic.  We have compiled an at-a-glance summary of the key highlights and would urge clients…

National Insurance Contributions Set to Rise

National Insurance Contributions Set to RiseFrom April 2022 the rates of National Insurance Contributions are set to increase Certain NICs are set to rise by 1.25% from April 2022. The increase will apply to Class 1 NICs currently paid by employees via PAYE and to Class 4 NICs currently paid by the self-employed via their…

Budget Blog: Time to Invest?

Budget Blog: Time to Invest?The Chancellor’s announcement that an increased tax deduction is available from 1st April on the purchase of qualifying plant and machinery raises a question for business owners. Business owners often seek to maximise their tax efficiency by investing in the purchase of plant, machinery, equipment and commercial vehicles. These assets come…

Summary: Rishi Sunak’s Budget 2021

Summary: Budget 2021 Chancellor Rishi Sunak delivered his second Budget on Wednesday 3rd March 2021. The Chancellor’s #Budget2021 was again focused on dealing with Covid-19 and managing its long-term impact on public finances. To assist with understanding these announcements we have prepared a document containing highlights of the key issues. You can access our Budget…