From 6 April 2020, the benefit in kind rates for all-electric cars is reducing from 16% to 0%, which will result in significant tax and National Insurance contribution (NIC) savings. The BIK rate for an all-electric car is currently expected to then rise by 1% in 2021-22 and a further 1% in 2022-23. This rate should then be sustained through to the tax year ended 2024-25.
Amid the transition from the Coronavirus lockdown into a new form of normality, the chancellor Rishi Sunak has presented his economic plan towards financial recovery. The new measures which were mostly welcomed by industry leaders were described by some as unprecedented.
Here is a summary of the main changes introduced.
A good forecasting exercise isn’t merely about looking at the facts, it’s also a chance to ask ‘what if?’
Ultimately, this allows you to look at different scenarios and test the impact, enabling you to see more clearly how you would be affected by any changes in income or expenditure.
With Coronavirus causing so much uncertainty, now is a very good time to do a forecasting exercise.
To make sure that your business is heading in the right direction, its important you lay out a business plan so that you can focus on your targets, ensuring every new assignment you undertake is moving you closer to your goals.
The Self-Employment Income Support Scheme (SEISS) reopens for claims this August. Here’s what you need to know.
In this guide, we will cover the main changes to the Self-Employment Income Support Scheme (SEISS). Namely, the amount of available grant for you, from August and the eligibility requirements to submit a claim.
How to maximise your tax efficiency this year?
There are many solutions you should be aware of in order to fully optimise your take home pay in 2020/21.
To help you get started today, here’s a quick review of some of the benefits available for you and your business.
Chancellor Rishi Sunak has introduced some changes to Coronavirus Job Retention Scheme (CJRS) and announced a further extension to the Self-Employment Income Support Scheme (SEISS). As Britain moves into the first stage of easing the lockdown.
On May 6th, upper tribunal judges, Zacaroli and Scott gave a key ruling in regards to one of IR35’s most disputable factors – ‘Mutuality of Obligation’. Read the full story