Will the Spring Budget stimulate economic growth? With the UK economy flat lining the Chancellor is under pressure to announce measures to stimulate growth. There are even calls for him to cut corporation tax which is scheduled to increase from 1 April 2023.
MAKING TAX DIGITAL FOR INCOME TAX DELAYED AGAIN - It was announced just before Christmas that the new system of submitting digital information quarterly to HMRC has been delayed yet again! The start date will now depend upon the gross business receipts of the individual.
NEW YEAR RESOLUTIONS TO SAVE TAX At this time of year we think about New Year’s resolutions. It is also a good time to start planning your tax affairs before the end of the tax year on 5th April....
U-TURNS TO STEADY THE FINANCIAL MARKETS In his Fiscal Statement delivered on 23 September 2022, the previous Chancellor, Kwasi Kwarteng, introduced a Growth Plan including the tax cuts promised...
TEAM TRUSS CUT TAXES TO STIMULATE THE ECONOMY On 23 September 2022, Kwasi Kwarteng, the new Chancellor (the fifth in as many years) delivered a Tax Cutting “Fiscal Event” or Mini-Budget to help...
Back to School - Childcare Vouchers or Tax-Free Childcare Account? There continues to be poor take-up of the Government’s Tax-Free Childcare Accounts which provide a 25% subsidy towards the cost of childcare.
PRIME MINISTER CANDIDATES AND POSSIBLE TAX CUTS With the departure of Boris Johnson, the contenders as leader of the Conservative Party and Prime Minister (PM) have now been whittled down to the...
CHILDCARE ACCOUNTS CAN SUBSIDISE SUMMER CAMP COSTS If you have children under 12 who attend a nursery, after school club, play scheme, childminder or you are considering sending them to a summer...
REPORT EMPLOYEE BENEFITS ON FORM P11D BY 6 JULY P11D forms for reporting expenses and benefits in kind provided to employees and directors in 2021/22 need to be submitted by 6 July 2022. Remember...
TRADING LOSSES - CARRY BACK OR CARRY FORWARD? In the March 2021 Budget, it was announced that the normal one year carry back for trading losses would be extended to three years. That means that...