Spring Budget 2023 Chancellor Jeremy Hunt delivered a ‘Budget for Growth’ after the Office for Budget Responsibility forecast a stronger than expected performance from the UK economy this year with inflation continuing to fall. Driving business investment The...
The Chancellor Jeremy Hunt has announced his Spring Budget which took place this afternoon. We have highlighted below some of the key tax changes announced by the Chancellor. Corporation tax The Chancellor confirmed that he is going ahead with increasing the...
Chancellor Jeremy Hunt will deliver his 2023 Spring Budget on Wednesday 15th March 2023. 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...
HMRC will no longer issue option to tax notification receipt letters from 1 February 2023. Supplies of land and buildings are normally exempt from VAT, but it is possible to opt to tax the land/property which may allow some recovery on expenses if VAT is charged on...
What is being delayed? HMRC has announced that plans to implement digital tax reporting for unincorporated businesses and self-employed individuals and landlords in April 2024 will be delayed until April 2026. Why has MTD been delayed? HMRC have said that businesses...
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...
Background In 2022, Hawsons Corporate Finance had the pleasure of supporting Specialised Movers Limited (“SML”), a well-established storage and removals company, based in Sheffield, during their transition to Employee Ownership. SML was not previously a client of...
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...
Making Tax Digital for income tax is being introduced on 6 April 2024. It will affect self-employed individuals and landlords with annual business or property income above £10,000. For general partnerships, the start date has been set at 6 April 2025. LLPs will join...
In 2021, one in eight charities (12.5%) were victims of a cyber-attack according to a survey of 2,330 charities across England and Wales conducted by IFF Research. The pandemic meant that charities were forced to gravitate towards online fundraising methods to enable...
What are the new VAT penalties? From 1st January 2023 a new penalty-based points system will be introduced for all VAT returns that are submitted late or the payment is late. This new system will replace the current default Surcharge. Nil or repayment returns that are...