The Prime Minister, Sir Keir Starmer, speaking from Downing Street last Tuesday, has said that the budget in October will be âpainfulâ and the government would be making âbig asksâ of the country. He said that the country would need to be prepared to âaccept short-term pain for long-term goodâ…
In the Spring Budget on 6th March, one of the headline announcements by Chancellor Jeremy Hunt was a the further reduction to National Insurance. In this âInsightâ we take a look at what this means for Employees, Employers and the Self-Employed, with a look at the new National Living Wage…
On 6th March 2024, Chancellor Jeremy Hunt presented his Spring Budget to Parliament. Headlines included further cuts in National Insurance Contributions for workers and the self-employed, a slight increase in the VAT registration threshold and an increase in thresholds to reduce the number of people affected by the high-income child…
Welcome to the December 2023 Tax Update. In this edition we take a look back at the Chancellor’s Autumn Statement, the Unified R&D Tax Credit Scheme, advisory fuel rates for company cars; and what’s coming up on the ‘Accounting Horizon’. If you need any help or advice on any of…
On 22nd November 2023, Chancellor Jeremy Hunt presented his Autumn Statement to Parliament. Headlines included generous National Insurance Contribution (NIC) cuts for workers and the self-employed and the âbiggest permanent tax cut in modern British history for businessesâ. Below, we summarise the Autumn Statement headlines and other measures announced. Please…
The main points of this month’s Tax Update have been covered in our Spring Budget Summary published on 18th March – to visit this Blog – CLICK HERE… There have been some other announcements of note in recent weeks: CLICK HERE for ‘New VAT Penalties’ CLICK HERE for ‘Business Rate…
On 15th March 2023, Chancellor Jeremy Hunt presented his first Budget to Parliament and set out a plan to reduce inflation, grow the economy and get Government debt falling, all whilst avoiding a recession and tackling labour shortages. Below we set out some of the main points: COST OF LIVING…
Tax Increases and Public Spending Cuts The new Chancellor Jeremy Hunt had warned the public and the financial markets that his Autumn Statement would include ‘eye-watering’ cuts in public spending and tax rises for those with the âbroadest shouldersâ. Unlike the ill-fated Fiscal Event of 23rd September, the Government ‘rolled…
Hereâs a brief overview of todayâs Autumn Statement from the Chancellor, Jeremy Hunt: Personal Tax Reduction in the 45p threshold to ÂŁ125,140 from ÂŁ150,000 (this will cost Additional Rate Taxpayers ÂŁ1,250) All other allowances and thresholds to remain the same until the end of March 2028 (which means that the…
This monthâs Tax Update focuses on the Governmentâs U-Turns from 23rd Septemberâs plans in order to steady the financial markets.