HMRC announces the rise of child benefits

HMRC announces the rise of child benefits

HMRC have confirmed that the new rates for child benefits are set to increase at the start of April 2022.  HMRC have announced their new Child Benefits rate, which, starting April 2022, will have risen. Child benefits are eligible for parents who are bringing up a...
20% VAT Hospitality Tax increase

20% VAT Hospitality Tax increase

From the 1st of April, hospitality tax VAT returns to its standard rate – of 20% Since July 2020, hospitality tax was decreased to 12.5% to recover from the impact of the Covid-19 pandemic. This gave businesses the chance to become financially stable after the...
Business Tax: The Spring Budget 2022

Business Tax: The Spring Budget 2022

The budget laid out by Chancellor Sunak offers small businesses the chance to reduce their energy bills and receive financial support. Regarding business tax, here is the allocation for the Spring Budget on business tax:  Making Tax Digital (MTD):  April 2022 will see...
Capital Taxes: The Spring Budget 2022

Capital Taxes: The Spring Budget 2022

Capital tax is a tax levied on a corporation based on assets rather than income. In2021, CGT generated £10.6 bn. This figure is rising as property and investment prices climb. Therefore, the Chancellor froze most CGT reliefs. Keep informed of changes. The following...