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27
September
New company car advisory fuel rates revealed The latest new company car advisory fuel rates have been published by HMRC and will take effect from September 1st 2022. These new rates will see a rise in cost of anywhere between one and two pence per mile.
26
September
September 2022 Mini-Budget On 23rd September 2022, the new chancellor, Kwasi Kwarteng, published his mini-budget. The headline-grabbing budget has been designed to promote growth, tackle inflation, and ease the cost-of-living crisis for both individuals and businesses. We will cover the key announcements from the September 2022 budget and the impact they could have on the economy.
20
September
HMRC releases more details about MTD for income tax HMRC has released more details on how buy-to-let landlords and sole traders with qualifying income over £10,000 will be affected by Making Tax Digital for Income Tax. Read below to find out what these details are and how they might affect you.
13
September
Changes delayed for late VAT submission penalties Proposed penalties for late VAT submissions and payments have been delayed until January 2023 to give HMRC sufficient time to bring in changes to infrastructure and systems. These changes impact anyone filing VAT returns late, but the Financial Secretary to the Treasury has recently announced that these changes won’t take effect until next year.
30
June
During the 2022 Spring Statement in March, Chancellor Rishi Sunak announced changes to National Insurance that will come into effect on 6th July this year. National Insurance (NI) is a tax that contributes towards your benefits and pensions, and the amount you pay depends on how much you earn. What are these changes and how will they affect you? We run through the answers in this guide.
25
March
Spring Statement 2022: What changes did the chancellor announce? Chancellor of the Exchequer Rishi Sunak has unveiled a number of measures to mitigate the rising prices of fuel, energy and food in the UK. The announcement was made during the Spring statement 2022, where Mr Sunak noted that the measures were a way to build a ‘strong, more secure economy for the United Kingdom.’ The measures that were announced in the updated budget for 2022 look to tackle the severe impact of inflation which has resulted in financial struggles across the nation. With the cost of living crisis continuing to grow, the worry is that these measures simply aren’t enough.
11
March
As the Covid-19 vaccination programme continues to roll out, the UK government has reduced the current restrictions massively. This article will provide an overview of the latest changes and their implications for small businesses. We hope that this information will be helpful to business owners as they make important decisions about how to protect their employees and operations during this difficult time.
02
November
Chancellor Rishi Sunak announced the UK’s 2021 Autumn budget this week, setting out the government's tax and spending plans for the next fiscal year. The new budget focuses on higher wages and productivity in order to tackle the ‘post-Covid’ era with an optimistic mindset. The Autumn budget 2021 includes several initiatives that affect small and medium businesses. Here’s a closer look at some of the budget changes and how they can affect your business.
31
October
Although you might have heard of Capital Gains Tax before, you may not be quite sure what it is. In general terms, it is a tax charged when you sell any capital asset which has risen in value over the time you own it. Property is a common example of an asset to which CGT can apply and something to be aware of when selling. It is also worth noting that Capital Gains Tax for properties is calculated using different rates for different types of property. A recent October 2021 change saw CGT on residential properties having to be reported within 60 days of sale completion. In addition, any taxable gains must be paid within 60 days of sale completion too.