This category aims to provide readers the most up-to-date news articles on UK taxation and accounting.
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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.
Due to the COVID-19 pandemic, wages are rising at a rapid rate. Under the current triple lock on pensions, this would mean pensions would rise significantly as well.
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.
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.
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.
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
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.
UK government has extended the furlough scheme until the end of September. Chancellor Rishi Sunak confirmed the extension during his Budget announcement.
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.
British Business Bank introduced the Recovery Loan Scheme on April 6th, 2021 (valid till December 31st, 2021), as a new debt finance scheme to replace the existing ones.
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.
Due to the COVID-19 pandemic, wages are rising at a rapid rate. Under the current triple lock on pensions, this would mean pensions would rise significantly as well.
The United Kingdom has a complex and constantly changing tax system. Numerous tax reliefs and provisions are available to reduce tax liabilities legitimately without entering the more difficult territory of tax avoidance.
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.
The furnished holiday let, also known as an FHL, is referred to in the UK as a rental property. This classification provides certain tax benefits for holiday home tenants.
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