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Newsletter 166 In this month’s Enews we consider the major announcements from the Chancellor’s Spring Statement. We also update you with the latest economic growth forecasts and the Bank of England’s latest decision on interest rates. With guidance on student loans and ground rents for leaseholders, there is a lot to update you on. Non-Domiciles in…

Highlights for business in the Chancellors Statement and commentary by Walker Thompson 1) Fuel Duty reduced by 5p per litre – with fuel at its highest ever prices no changes are made to the tax free mileage rates which have been at 25p and 45p for a long        time 2) National Insurance…

Spring Statement is the time to act, says CBI Coronavirus SSP Rebate Scheme set to close on 17 March Businesses urged to apply for remaining COVID-19 support grants Two freeports planned for Scotland HMRC raises late payment interest rate to 3% MPs call for road pricing to replace motoring taxes Over a million take advantage of…

COVID-19 support grants paid to companies must be included on company tax returns Government scheme gives discounts of up to £5,000 on accounting software Claims portal reopens for Statutory Sick Pay Rebate Scheme Consumer group urges taxpayers to avoid using refund firms to claim tax rebates National insurance rise ‘set to squeeze budgets’, warns CBI No…

Chancellor announces £1 billion fund for businesses Self assessment taxpayers must declare COVID grants on tax returns HMRC waives self assessment penalties for one month to ease COVID-19 pressures Scottish Budget 2022 Welsh government delivers Budget FCA to introduce new consumer duty HMRC latest guidance for employers Over 440,000 small firms at risk due to…

HM Revenue & Customs have announced this morning that the Self Assessment filing deadline has been extended from 31 January 2022 to 28 February 2022 for 2020/21 Tax Returns Their announcement means that the late filing penalty will only be charged if a Return is received by them after 28 February and it only affects…

  We are pleased to send you our latest E-News Update Coronavirus has certainly adversely affected some of our clients and their families and as 2021 draws to a close, we continue to see both our business and our personal lives impacted upon by new variants of the Covid Virus. Despite this, we remain positive…

Chancellor delivers Budget to lay foundation for a strong economy Business groups give mixed response to Budget IFS predicts millions to be worse off next year due to tax rises Payment period on residential CGT is doubled FSB warns tax rises ‘threaten recovery from pandemic’ Applications now open for freeports Pensions experts say a minimum of £10,900…

This is a basic guide, prepared by ACCA’s Technical Advisory team, for members and their colleagues or clients. It’s an introduction only and should not be used as a definitive guide since individual circumstances may vary. Specific advice should be obtained, where necessary. The message from the Chancellor was we are entering a ‘post covid…

Deferring VAT or Time to pay Making Tax Digital for Income Tax Self Assessment delayed for a year National Insurance and dividend tax rises announced for social care reform Chancellor to deliver Autumn 2021 Budget on 27 October Chancellor warned of redundancies as furlough scheme ends COVID-19 sick pay rebate scheme closed in September £800…