Blog
Find latest information and news in our fully up-to-date blog post below.
Spring Budget 2024 – Few highlights
1. VAT threshold for mandatory registration increased from existing £85,000 to £90,000.2. Class 1 Primary National Insurance, Insurance to be borne by Employees, reduced from 10% to 8% from 6th April 2024.3. Class 4 National Insurance applicable to self-employed person reduced from 8% to 6% from 6th April 2024.4. Capital Gains Tax – Higer Rate,
Spring Budget delivered on 23rd March 2022 – summary
· Basic rate of income tax will be reduced from current 20% to 19% by the end of this parliament term in 2024. · Fuel duty on petrol and diesel will be reduced by 5p a litre from 6 pm today until March 2023. · National Insurance threshold will be increased to align with personal allowance of
Budget 2021 – Must know changes
CJRS has been extended to September 2021 as it is. From July 2021 (10%), August (20%) and September (20%), employer has to start contributing. SEISS grant has also been extended to September 2021.Tax payers who managed to file their personal tax returns relating to FY 2019/20 till midnight of 02/03/2021 will qualify here afterwards. SDLT
22nd October 2020 Update
Job Support Scheme: Effective from 1st November 2020, the employer has to provide at least 20% of usual working hours to the employee. Out of 80% unworked hours, 61.67% will be contributed by the Government up to a ceiling of £1,541.75. The employer has to contribute minimum 5% of the unworked hours. In substance, around
Winter Economy Plan announced by the Chancellor on 24th September 2020
If you want to protect economy, better protect jobs. New updates! 1. Jobs Support Scheme (JSS): In order to support viable jobs, Government will contribute 1/3rd of the wages relating to unworked usual hours. Employer has to pay minimum 1/3rd of the pay relating to usual hours. Government will only contribute maximum £679.92 per month.
If you stand by your workers, we will stand by you – Chancellor Mr. Rishi Sunak
Few highlights of 8th July 2020 speech Vat on Hospitality and Tourism Sector will reduce to 5% from existing 20% from 15th July 2020 till 12th January 2021. This will not be applicable to sell of alcohol. Stamp Duty Land Tax : If you purchase your first home from 8th July 2020 till 31st March
CJRS and SEISS – Second Round
CJRS – From June 2020 till October 2020 June and July 2020: Employers can claim 80% of wages up to a ceiling of £2,500 and associated Employer National Insurance and Employer Pension Contribution. Hence , there is no change for this period compare to previous claims.August 2020: Employers can only claim 80% of wages up
Job Retention Scheme – 29th May 2020 Few Changes
Employers can bring back furloughed employees to work from 01/07/2020. Employers and employees can decide on timing of work. Normal hours not worked can still be claimed as Furlough up to a minimum period of 1 week. From 30/06/2020, no new employees can be furloughed. Previously furloughed employees can still be furloughed though if need