by Chris Barlow | Dec 12, 2022 | Latest, Tax
As we welcome in the New Year, HMRC will be welcoming a new penalty system for the late filing of VAT returns, amongst other changes… On the 1st January 2023 there will be a new points-based penalty system implemented for the late filing of VAT returns, and new...
by Chris Barlow | Dec 9, 2022 | Latest, Tax
In his Autumn Statement, Jeremy Hunt announced that there will be changes to the Research and Development tax relief for small and medium-sized enterprises (SMEs) When Jeremy Hunt delivered his long-awaited Autumn Statement last month, he outlined several changes to...
by Chris Barlow | Dec 5, 2022 | Latest, Tax
As part of his Autumn Statement, Chancellor Jeremy Hunt announced a reversal of the temporary increase in National Insurance Contributions and the cancellation of the Health and Social Care Levy. Back in September 2021, the government published proposals for...
by Chris Barlow | Nov 30, 2022 | Latest, Tax
The government has decided to make the £1,000,000 limit for the Annual Investment Allowance permanent, eliminating plans to reduce it to £200,000 in April 2023. The Annual Investment Allowance (AIA) means that businesses can claim capital allowances on items that they...
by Chris Barlow | Nov 24, 2022 | Latest, Tax
Despite previous decisions to cancel the increase, it has been confirmed that the main rate of corporation tax will go up to 25%. In the September mini budget, ex-Chancellor Kwasi Kwarteng had announced that the increase in the rate of corporation tax for a lot of...
by Chris Barlow | Nov 21, 2022 | Latest, Tax
Last week, Jeremy Hunt announced upcoming changes to income tax, most notably a reduction of the threshold at which people are required to pay the additional income tax. When Chancellor Jeremy Hunt delivered his long-anticipated Autumn Statement to MPs in the House of...
