The Scottish Government outlined their budget proposals for 2023-2024 today, on 15th December 2022. These proposals set out the tax and spending plans for the next couple of years and follow on from the UK Governments Autumn Statement of 17th November, outlined in our blog post here. The Scottish Government has limited taxation powers, including […]
Scottish Budget – December 2022 Read More »
The Chancellor of the Exchequer, Rishi Sunak, presented his Spring Statement to Parliament yesterday, Wednesday 23 March 2022, and we provide a summary below. We will post more detailed analyses of the changes businesses need to make to take advantage of these changes as the details are published by HMRC. Understandably, the Chancellor opened his
Spring Statement 2022 Summary Read More »
Update! As of the 23rd September 2022 this update has been cancelled! Corporation Tax will remain at 19%. Background to the Corporation Tax Changes The 2021 Budgets The March and October 2021 UK budgets included a whole raft of changes to the UK corporation tax regime, some of which are already with us, and some
Corporation Tax Changes 2023 Read More »
Covid 19 Statutory Sick Pay Rebate A reminder that our payroll team can help you reclaim statutory sick pay for employees who are off due to Covid-19. You can claim back up to 2 weeks of Statutory Sick Pay if: you have already paid your employee’s sick pay (use the Statutory Sick Pay calculator to work
Claim Back Sick Pay For Covid Absences Read More »
On 27 October 2021, the Chancellor delivered his third Budget in conjunction with the Public Spending Review. Many of the spending announcements had already been leaked to the Press prior to Budget Day and arguably a lot of it was not new money. The Chancellor did however manage to keep a few surprises back for
October 21 Budget Update Read More »
VAT rate change on the 1st of October The temporary 5% VAT rate that has applied to supplies made in the tourism and hospitality sector since the start of the pandemic comes to an end at the end of September. The rate then increases to 12.5% from 1 October until 31 March 2022 when it
5% VAT Ending For Tourism and Hospitality Read More »
September is the last month for furlough claims The Government are pulling the plug on support to employers for furloughed staff at the end of September as they anticipate that the economy will be back to normal by October. The grant claims for employees furloughed in the month of September are 60% of the employee’s
There are new Corporation Tax rules coming in April 2023 with a gotcha for people who have related businesses. A 25% rate of corporation tax will apply to all of a company’s profits if they exceed £250,000 from 1 April 2023. The 19% rate will continue to apply where profits are below £50,000. The
New Corporation Tax Rules Coming In 2023 Read More »
As we mentioned in our budget blog post the 5% VAT rate that was brought in in 2020 is going to be extended. The broad details are: The temporary reduced rate of VAT of 5% will be extended until 30 September 2021 There will be a new rate of 12.5% from 1 October 2021 to
Hospitality 5% VAT Extension Until September Read More »
The Government has just update it’s guidance on paying VAT bills that were deferred due to the pandemic between 20th March and 20th June 2020. Clients have three options: Pay by the 31st of March Opt into the new deferral scheme when it goes live and pay in up to 11 smaller payments Talk
Deferred VAT Bills Now Coming Due Read More »
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