News
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National insurance threshold rises to £12,570
Published by Michael Graves on Thu, 04/08/2022 - 4:33pm -
Recovery Loan Scheme to be relaunched
Published by Michael Graves on Thu, 04/08/2022 - 4:31pm -
New homeowners warned over tax refund claims
Published by Michael Graves on Fri, 15/07/2022 - 10:16amNew homeowners are being warned about cold calls from rogue tax repayment agents advising them to make speculative Stamp Duty Land Tax (SDLT) refund claims, which could leave them with large tax bills.
The warning comes after a recent spate of Stamp Duty refund claims to HMRC failed to meet specific criteria.
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Latest guidance for employers
Published by Michael Graves on Fri, 15/07/2022 - 10:14am -
Manufacturers call for support package
Published by Michael Graves on Mon, 11/07/2022 - 10:12amManufacturing trade body Make UK is calling for an emergency, pre-recess package of business support measures.
The call comes after a Make UK survey showed growth and orders slowing significantly with exports close to a standstill.
Make UK has made recommendations for measures the government can introduce now to address rising business costs, including:
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NICs increase has immediate impact on businesses
Published by Michael Graves on Mon, 11/07/2022 - 10:10amFour out of five employers stated that they were immediately impacted by the increase in national insurance contributions (NICs), according to research by the British Chambers of Commerce (BCC).
The BCC surveyed more than 1,100 UK employers and found that the NICs increase has caused negative impacts to 81% of businesses.
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Bank of England raises UK interest rates to 13-year high of 1.25%
Published by Michael Graves on Fri, 08/07/2022 - 10:08amThe Bank of England (BoE) has raised UK interest rates to a 13-year high of 1.25% and is now predicting inflation will hit 11% this autumn, when energy bills are set to rise again.
Six out of nine Monetary Policy Committee (MPC) members voted for a 0.25 basis point hike, leading to a fifth consecutive rise.
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Inflation hits 40-year high of 9.1% amid cost-of-living crisis
Published by Michael Graves on Fri, 08/07/2022 - 10:06amUK inflation rose to 9.1% in May from 9% in April as the cost-of-living crisis continues, according to data from the Office of National Statistics (ONS).
It was a slight increase on the 9% figure of the previous month, which was driven upwards by April's unprecedented rise in the energy price cap and is estimated to be the highest since 1982.
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HMRC criticised over IR35 implementation
Published by Michael Graves on Thu, 07/07/2022 - 8:56amHMRC needs to demonstrate that off-payroll working rules, commonly known as IR35, can operate effectively and fairly in the real world, according to a report by the Public Accounts Committee (PAC).
The tax authority should also investigate whether the costs and unintended consequences of IR35 are proportionate to the additional tax revenue that the reforms raise.