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Salary exchange from April 2022
From April, national insurance payments will increase as part of the government's plan to aid the economy post-Covid 19. The Salary exchange (Or salary sacrifice) scheme is an agreement to reduce an employee's entitlement to cash pay in return for a non-cash benefit....
Government backs innovative businesses with a new £150 million loan scheme
The loans programme will broaden the financial support available to companies, ensuring they can access funding at all stages of innovation. Some of the UK's innovative companies will benefit from a new scheme that offers up to £150 million to support the business's...
82% of small businesses are unaware of MTD for VAT.
From April 2022, all VAT registered businesses must sign up, whatever they earn. Before the government brought in this extension, only companies whose turnover was more than £85,000 had to sign up for MTD. With less than a month left until the extension of MTD for...
Year-end tax planning
The end of the tax year is approaching fast, firms and accountants are advised to consider if there are any actions to be done before the end of the year to optimise their tax position. Many tax reliefs and allowances are available, creating the financial future you...
Budget and Spending Review – October 2021: What you need to know
Measures announced by Chancellor Rishi Sunak in the Budget and Spending Review. 1. Strong and innovative public services: The new Health and Social Care Levy, along with an increase to the rates of dividend tax, will raise around £13 billion per year for spending on...
£126m to create more training opportunities and placements for young people.
Guidance for prospective trainees, employers and training providers on traineeships. The Government are increasing the number of traineeships by investing over £126m to create more training opportunities and placements for young people. A traineeship is a skills...
£500 million Plan for Jobs Expansion
Hundreds of thousands of people to be supported as part of the more than £500 million expansion of the government's Plan for Jobs. Over £500 million to support hundreds of thousands of people into jobs announced today (Monday) Workers leaving the furlough scheme and...
National Insurance and dividend tax rises announced for social care reform
Record £36 billion investment to reform NHS and Social Care Prime Minister pledges to tackle NHS Covid backlogs and cut waiting times with new £36 billion investment for health and social care Responsible, fair, and necessary action taken to provide biggest catch-up...
Making Tax Digital for Income Tax Self Assessment delayed for a year
The government is extending the requirement to operate Making Tax Digital (MTD) to the 4.2m taxpayers with business and/or property income over £10,000, including landlords, sole traders and partnerships, for their Income Tax obligations. These changes will apply to...
Government launches £500m support for vulnerable households over winter
Vulnerable households across the country will be able to access a new £500m support fund to help them with essentials over the coming months as the country continues its recovery from the pandemic. £500m support available to help those most in need as we enter the...
