News

News

This category aims to provide readers the most up-to-date news articles on UK taxation and accounting.

If you have any concerns or further questions that are not covered so far by the given articles, feel free to send us a message or book an appointment with our experts to discuss your concern. It’s an honor to help and guide you on this matter.

Tax Reform
Fahad Lateef

Get Ready for Possible “Tax Reforms”

As the chief of national finance, Chancellor of the Exchequer, Rishi Sunak, is supposedly considering a broad scope of changes to raise funds for the Treasury in the recuperation period of the pandemic.

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Self-Employment Income Support Scheme
Fahad Lateef

Self-Employment Income Support Scheme

The Self-Employment Income Support Scheme was initially introduced on March 26, 2020, and gave an underlying grant to independently employed people whose organizations were unfavorably influenced by the pandemic.

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 VAT on Electric Car Chargers
Fahad Lateef

HMRC’s VAT on Electric Car Chargers

Her Majesty’s Revenue and Customs (HMRC) has confirmed that the VAT on open electric vehicle (EV) charging will remain at 20% after demands for clearness from organizations around decreased rates.

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Fahad Lateef

Property Sales Hit New Records

The Chancellor of the Exchequer, Rishi Sunak, temporarily lifted stamp duty tax on the initial £500,000 of property buys in July of last year, and in March, he extended the exception by a further three months to the furthest limit of June.

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Tax Raid on Pensions
Fahad Lateef

Tax Raid on Pensions A Way Out of COVID-19?

A triplet of changes to pension contributions are being drawn up, including lessening the pensions lifetime allowance from just over £1m to around £800,000. Bringing down this limit has a significant impact, as pension savings are heavily taxed above this allowance

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Tax Credit Customers to Renew Claims
Fahad Lateef

Tax Credit Customers to Renew Claims

More than 440,000 annual tax credits, survey packs were sent to customers between late April and early June. Customers will have either gotten an ‘auto restoration update or a ‘reply required’ notice.

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Bounce Back Loan Scheme
Fahad Lateef

Bounce Back Loan Scheme (BBLS)

The BBLS is a Government-sponsored scheme, which permitted businesses influenced by COVID-19 to borrow money in specific circumstances. The Scheme is currently shut to new applications.

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