by Grace Welsh | Nov 29, 2021 | Tax
From 4 April 2022, applicants applying to renew certain licences will need to pass a tax check before their licence application can be considered. Initially, the requirement will only apply in England and Wales. However, the Government have consulted on extending the... 
by Grace Welsh | Nov 24, 2021 | VAT
To help the hospitality and leisure industries recover from the impact of the COVID-19 pandemic and associated lockdowns, a reduced rate of VAT of 5% applied from 15 July 2020 until 30 September 2021. This rate has now come to an end, and a new reduced rate of 12.5%... 
by Grace Welsh | Nov 15, 2021 | Business
The Annual Investment Allowance (AIA) is a capital allowance that enables you to claim an immediate deduction against your profits for qualifying capital expenditure up to the available limit. The AIA limit was temporarily increased from £200,000 to £1 million from 1... 
by Grace Welsh | Nov 9, 2021 | Tax
The Chancellor presented his Autumn Budget and Spending Review on 27 October 2021. Some of the highlights are discussed below. Income tax rates and thresholdsThe rates and thresholds applying for 2022/23 were confirmed. Personal allowanceAs previously announced, the... 
by Grace Welsh | Nov 5, 2021 | Tax
If you agreed a PAYE Settlement Agreement (PSA) with HMRC for 2020/21, you will need to pay the tax and Class 1B National Insurance that is due in October 2021. The deadline for paying the tax and National Insurance is 22 October if you make your payment...