by James Hellyer | Nov 20, 2023 | Changes in legislation
British businesses could save up to £1 billion a year as the Government confirms plans to remove unnecessary and outdated bureaucracy following our exit from the EU. The Government has announced amendments to several retained EU laws to ensure UK regulations are...
by James Hellyer | Oct 12, 2022 | Changes in legislation, National Insurance
In keeping with promises made by Prime Minister Liz Truss during her leadership campaign, the Health and Social Care Levy (which was due to come into effect from April 2023) has been cancelled. The associated temporary increase of 1.25% in the rates of Class 1, Class...
by James Hellyer | Oct 10, 2022 | Business management, Changes in legislation
Around 40,000 businesses are now exempt from reporting requirements as the Prime Minister unveils a new plan to boost productivity. Liz Truss has announced that thousands of the UK’s fastest-growing businesses will be released from existing requirements and other...
by James Hellyer | Oct 6, 2021 | Changes in legislation
A recent HMRC press release confirmed that sole traders and buy-to-let property businesses (but not incorporated businesses) will have an extra year to prepare for the digitalisation of Income Tax. Recognising the challenges faced by many UK businesses and their...
by James Hellyer | Sep 27, 2021 | Changes in legislation
As well as increasing National Insurance contributions from April 2022 – the 1.25% increase announced earlier this month – the Treasury also increased the hybrid income tax rates applied to dividends received, by the same amount and from the same date. The changes...
by James Hellyer | Sep 20, 2021 | Changes in legislation, National Insurance
No surprises when the Prime Minister announced a hefty 1.25% increase in NIC Class 1 and Class 4 rates from April 2022. The announcement was widely predicted. Effectively, this is a tax increase on earnings (employed or self-employed) and on costs for employers. It is...
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