Following the announcement that inflation rose to a 30 year high of 6.2% in February 2022 and on the back of rising fuel, energy and food costs, the Chancellor of the Exchequer, Rishi Sunak unveiled his Spring Statement, this week.
Here are some of the announcements relevant to businesses
Last Wednesday, Chancellor Rishi Sunak presented the next budget and financial reforms the Government intends to implement throughout this tax year and beyond. As the...
Last week, the Chancellor, Rishi Sunak has set out the Government's economic plan for 2021. With the Spring Statement, he presented a long list of measures implemented...
Rishi Sunak said he expected Coronavirus to have a 'significant' but 'temporary' impact on the UK economy. "People will return to work. Supply chains will return to...
On Wednesday the 11th March 2020, the newly appointed chancellor Rishi Sunak will deliver his first budget to the country, the first in over eighteen months. We detail what we expect to change below, though following warnings of the potential cost to the economy of...
TV presenter Lorraine Kelly has won her case against HMRC at an IR35 tribunal. The case related to her engagements with ITV Breakfast Ltd and her own limited company, Albatel Ltd, covering the period September 2012 to July 2017. If she had lost the case, she would...
We are thrilled to announce that we are just putting the finishing touches to our shiny new portal. Our portal is used by our clients to raise and send invoices, claim mileage and expenses and complete their accounts online so that we can use the figures to provide...
IR35 Update - March 2020 The off-payroll reforms to IR35Â in the private sector have now been delayed by 12 months due to the coronavirus pandemic. The legislation will now be reintroduced in April 2021. This is a welcome decision in light of the worrying health and...
The Budget 2018 was released yesterday, and it seems it was a hugely anticipated budget for many reasons – Brexit and IR35 to name a few. Here are some of the main changes discussed in the budget: Off-payroll working in the Private Sector The changes made to the...
The next high-profile TV presenter that HMRC has its focus on over their IR35 status is Eamonn Holmes. His company, Red White and Green Ltd has been awaiting the Court’s ruling over whether he has been operating inside IR35 regulations as per HMRC’s allegations.
Last June, Companies House has released its annual companies register activities’ report for 2017/18 The official document includes some interesting figures about the current population of registered companies in the UK. Not surprisingly, it presents a mix of trends...
The Construction Industry Scheme (CIS) requires contractors to deduct tax at source on payments made to a subcontractor. However, the subcontractor can register with HMRC for gross payment status to stop the tax at source deduction. This makes a subcontractor with the...
Over the past few weeks, we have noticed a growing number of questions over the recent First-Tier Tribunal ruling against Christa Ackroyd, the former BBC TV presenter.
The ruling helps bolster the IR35 key aspects which determine whether a contract was deemed inside or outside IR35.
With the arrival of the new financial tax year in a little over a month, it’s a good time to think about the inevitable changes in the tax allowances and rates and how they might affect the amount of tax you might have to pay. As a contractor, operating through a...