Business Guides
Insider: November 2021
NICs will rise by 1.25% for employees, employers and the self-employed from April 2022 to fund the Government’s new health and social care levy. In some scenarios, employees and employers can get around this by striking a salary sacrifice deal to reduce an employee’s...
Autumn Budget 2021 – Biggest rates cut in three decades
Chancellor Rishi Sunak resisted temptation to raise taxes to start paying for the emergency support schemes that kept so many businesses afloat during the pandemic in 2020/21.
2020/21 income tax returns & the SEISS
A chunk of time has passed since the self-employed income support scheme (SEISS) was launched in May 2020, following the onset of the COVID-19 pandemic. The first taxable grant, worth up to £7,500 in total, was paid out in August 2020. That was followed by a second...
Insider: October 2021
The stamp duty land tax holiday in England and Northern Ireland has come to an end, more than 14 months after it first came into effect. The tax break saw most buyers who purchased residential homes for £500,000 or less pay no stamp duty land tax until 30 June 2021,...
Accounting for charities & non-profits
Anyone who’s involved in operating a charity knows how it differs from running a business, both in terms of motives and objectives. HMRC treats non-profit organisations and charities very differently to businesses, offering some unique tax breaks in the process. If a...
Basis period rules in line for reform
Unincorporated businesses could be about to see significant changes to the ways in which they are taxed, following the launch of a Government consultation. The Government plans to reform the basis period rules in a bid to simplify how unincorporated businesses, such...
Insider: September 2021
Everyone who is eligible for the last SEISS grant should have received a personal start date from HMRC in recent months. These gave self-employed taxpayers a date from which they can apply for the support, with the first applications being accepted from 29 July 2021....
Starting a new business after COVID-19
Not much can stop determined entrepreneurs from building a new business from the ground up, even during such challenging times as a COVID-19 or its ensuing fallout. The pandemic has proven a huge challenge for businesses, with 396,155 UK firms closing in 2020...
Taking charge of planning your estate
Soaring house prices coupled with certain thresholds being frozen in the most recent Budget have the potential to drag more estates into the inheritance tax net over the coming years. Back in March 2021, Chancellor Rishi Sunak confirmed the main inheritance tax...
Insider: August 2021
The stamp duty land tax-free threshold in England and Northern Ireland reduced last month, as the tax holiday introduced in July 2020 began to be phased out. The first cliff edge for residential property buyers came and went on 30 June 2021, marking the end of a...