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We know clients are awaiting the Autumn Budget with concern, after Sir Keir Starmer has said it will be ‘painful’. Here we look at the two taxes we predict that Chancellor Rachel Reeves is most likely to unveil increases in, given that increases to the rates of income tax, national insurance and VAT have already…Read More
The General Election is now behind us and, as widely publicised, in Rachel Reeves we now have our first lady Chancellor of the Exchequer. As I write this article, we are at day five of the Labour government and the day after Reeves asked the Treasury to report back to her with their assessment of…Read More
Following a weekend during which a VAT deadline fell, we have been made aware of a glitch in HMRC’s system when it comes to those who pay via Direct Debit. They define a Direct Debit as a ‘request for payment’, which may or may not proceed. This is why payment isn’t actually taken until 10th-12th…Read More
7th March 2024 At times, it feels that Chancellor of the Exchequer Jeremy Hunt has been presenting to the House of Commons forever and a day with his Budgets and Autumn Statements but he has actually only delivered two of each. The 6 March 2024 Budget was widely perceived, in advance, to be something of…Read More
JANUARY 2024 “Do I need to pay tax on my Vinted/eBay earnings?” Due to recent headlines, this has become a key question as we enter the new year and self-assessment tax returns are at the forefront of our team and clients’ minds. Please be aware that currently, the only change is for digital selling platforms…Read More
By Ian Kelly, November 2023 Just over a year after his inaugural Autumn Statement, Chancellor of the Exchequer Jeremy Hunt delivered his second on 22 November 2023 which he opened with a title for the said Autumn Statement, “An Autumn Statement for Growth”. One was immediately transported back to the Liz Truss/Kwasi Kwarteng Mini Budget…Read More
Driving to work this morning, I switched to Radio Four, not my favourite choice of radio station, but I wanted to catch up with feedback on Rishi Sunak’s address to the Conservative Party Conference. As luck would have it, the Prime Minister was being interviewed, albeit a recording from the previous day, and he got…Read More
SEPTEMBER 2023 We celebrated #NPW23 by shining a spotlight on current payroll issues affecting UK businesses, via our latest DT Payroll newsletter. Please click here to read it now, and get up to date on:
Our Tax Card is now available, created for your use as a quick point of reference throughout the 2023/24 tax year. It shows all recent changes to rates and allowances affecting business and personal finances. TAX RATES 23/24 – CLICK HERE TO VIEW If you have any queries or require more detailed advice, please call us…Read More
MARCH 2023 Our Tax Partner Ian Kelly rounds up Wednesday’s budget from Chancellor of the Exchequer, Jeremy Hunt. Well, after all the advance hype and “leaks”, Chancellor of the Exchequer, Jeremy Hunt’s first Budget was something of a damp squib; always a problem when the “spoiler alert” has already taken place. Hunt’s calm and gentle…Read More
In January 2023, new research from HR expert MHR Global, revealed that a greater proportion of employees would prefer to work in the office with flexible hours (51%) than work from home with structured hours (41%). Full time office workers across the UK were surveyed, who drew on their experiences working remotely during the coronavirus…Read More
MARCH 2023 – OUR TAX PARTNER, IAN KELLY, LOOKS AHEAD TO NEXT WEDNESDAY’S BUDGET The clock is ticking on Chancellor of the Exchequer Jeremy Hunt’s first formal Budget to be held on Wednesday 15 March. After his Autumn Statement last November, we’re into confirmed traditional Spring Budget territory. Hunt’s delivery back then, I wrote, was…Read More
FEBRUARY 2023 Now that we are firmly in 2023, alongside other experienced regional professionals, we have decided that not only is it time to get local businesses focussed on their long-term plans, but it is also time to get businesses together in person to do so. We are coming together with Chartered Financial Planners Mercury…Read More
JANUARY 2023 The most significant change to personal taxation in 25 years has been postponed for a second time. HMRC recently confirmed that once again Making Tax Digital (MTD) for Income Tax Self-Assessment (ITSA) is postponed, until 2026. HMRC states: “The Government understands businesses and self-employed individuals are currently facing a challenging economic environment, and that…Read More
DECEMBER 2022 One of the biggest considerations for businesses currently is the increase to corporation tax. The new, higher rate will be effective from 1 April 2023 for companies with profits over £50,000. They will face a corporation tax rate of 25%. This is a significant increase to the current rate of 19% (for all…Read More