This afternoon, the Chancellor Jeremy Hunt announced his Autumn Statement. Below we have highlighted some of the key tax announcements made by the Chancellor. Employee National Insurance Contributions (NICs) cut The main rate of Class 1 employee NICs will be...
Super deduction and Annual Investment Allowance The introduction of the super deduction from April 1, 2021 was beneficial to capital-intensive industries such as logistics in that it provided companies with a deduction from taxable profits equal to 130% of the cost of...
Introduction We have summarised the key rates and allowances which are fundamental to our business and personal lives. We are sure that you will find them a useful point of reference and have set out below a few examples of how they can be used. Personal tax rates As...
The Chancellor, Jeremy Hunt, has given his first Autumn Statement. We have highlighted below some of the key tax announcements made by the Chancellor: Personal tax thresholds The Chancellor has announced that personal tax thresholds will be frozen for a further...
Autumn Statement 2022 On 17 November 2022, the government undertook the third fiscal statement in as many months, against a backdrop of rising inflation and economic recession. The Chancellor laid out three core priorities of stability, growth and public services. The...
The Chancellor of the Exchequer Jeremy Hunt will deliver his Autumn Statement on Thursday 17th November 2022. This is postponed from the previously planned date of Monday 31 October 2022. What time is the Autumn Statement? The Autumn Statement will be...
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Chancellor brings forward further medium-term fiscal plan measures As the saying goes, a week is a long time in politics. However, recent events have been unprecedented. At the Mini Budget a new Prime Minister and Chancellor launched a new agenda, ‘The Growth Plan’....
Following the recent appointment of the new Prime Minister, Liz Truss. There has been a cabinet reshuffle with Kwasi Kwarteng appointed Chancellor. Following his appointment, the new Chancellor announced a ‘Mini-budget’ which took place this morning. This was one of...
Introduction We have summarised the key rates and allowances which are fundamental to our business and personal lives. We are sure that you will find them a useful point of reference and have set out below a few examples of how they can be used. Personal tax rates As...
Creative tax reliefs have been made even more generous following the Autumn Budget. Find out here if your company qualifies for these reliefs The Chancellor has announced a temporary increase in the rates of relief for the following tax reliefs: Theatre...
The government has announced a cap on the amount of payable tax credit that a company can claim for Research and Development (R&D). The cap will be £20,000 per period plus 300% of the PAYE and NIC payable for the period. This will take effect for periods starting...