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...
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...
The Chancellor Rishi Sunak will deliver his 2021 Budget on Wednesday 3rd March 2021. What time is the Budget? The Budget is expected to take place at about 12:30 pm, straight after PMQs. The first part of the statement typically begins with a review of the...
DAC6 is a system of mandatory reporting of cross-border tax arrangements, where these affect one or more EU member states and fall into one or more particular characteristics (hallmarks). Following the UK leaving the EU, DAC6 will no longer be applied in its entirety....
Annual Tax on Enveloped Dwellings (ATED) is an annual tax that requires limited companies owning UK residential properties with a value of more than £500,000 to complete an ATED return. You must complete an ATED return if your property: Is located in the UK Is a...
Chancellor Rishi Sunak Announces Budget for 3 March 2021 The Budget is an annual announcement from the Chancellor of the Exchequer about the Government’s plans for spending and taxation for the upcoming tax year. Next year’s Budget will outline plans for the 2021/22...
HM Treasury has announced that the Annual Investment Allowance (AIA) will remain at £1 million until 1 January 2022. The AIA allows businesses to claim same-year tax relief for capital investments in plant and machinery assets and was due to revert to £200,000 on 1...
The Chancellor Rishi Sunak has announced a new Job Support Scheme to top up the wages of workers on reduced hours along with other emergency measures to assist businesses. We have provided a summary of the announcements. Job Support Scheme The new Job Support...