HMRC

Welcome to a short note on today’s Spring Budget statement and a quick reminder of the previously announced tax changes that will come into force next week. The Spring Statement: Rachel Reeves delivered her second fiscal statement today following the tax raising Autumn 2024 budget. Thankfully there were no more significant announcements on small business […]

Understanding the Changes Hidden away on page 133 in the notes to the 2024 Autumn Budget, the government has announced changes to the tax treatment of double cab pickup vehicles (DCPUs). Following a Court of Appeal judgment, these updates will come into effect in April 2025 and redefine how these vehicles are treated for tax

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

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

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

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

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