All the team at BWM wish you a very happy festive period and a fantastic start to 2022! Christmas Opening Hours The BWM office will be closed over the Christmas period from close of business on Friday 24 December 2021 at 12pm until 9am on Tuesday 4 January 2022. In case of any issues arising … Continued
Reforms to the ways in which unincorporated businesses pay income tax – known as basis periods – will go ahead, one year later than planned. Proposals and draft legislation were published in July 2021, suggesting the new rules would commence from 6 April 2023. Instead, sole traders and most business partnerships will be subject to … Continued
Buy-to-let landlords and second homeowners have twice the amount of time to report and pay capital gains tax after selling a residential property in the UK. The deadline to report and pay capital gains tax after completing the sale of additional UK residential property is now 60 days – up from 30 days. The change … Continued
Chancellor Rishi Sunak has extended a coronavirus loan guarantee scheme in a bid to protect UK businesses into next year. Sunak used his Autumn Budget speech to announce a six-month extension of the recovery loan scheme, which had been due to end on 31 December 2021 but is now due to close on 30 June … Continued
A new levy on large residential property developers’ profits intends to raise around £2 billion over the next 10 years, starting from next spring. The ‘cladding tax’ will be a 4% tax on developers with company profits of £25 million or more from residential development, although student and build-to-rent developments are exempt. It expects to … Continued
The temporary increase to the annual investment allowance has been extended by 15 months, just eight weeks before it was due to expire. The allowance offers 100% tax relief on qualifying plant and machinery up to a specified annual limit. In 2019, the allowance was increased from £200,000 to £1 million – a rise that … Continued
Thousands of retail, hospitality and leisure firms in England will receive a short-term business rates reprieve in 2022/23, following Autumn Budget 2021. Chancellor Rishi Sunak announced a temporary 50% cut in their business rates, up to a maximum of £110,000 per business. Up to 400,000 businesses in these sectors – including pubs, music venues, cinemas, … Continued
VAT for pubs, restaurants, holiday accommodation and entry to certain attractions increased from 5% to 12.5% last month, following the end of a tax break. A temporary cut first introduced on 8 July 2020 saw the standard rate of VAT for struggling businesses in the hospitality and tourism sectors fall from 20% to 5%. That … Continued
Salary-sacrifice arrangements could help employees negate the National Insurance contributions (NICs) rise during 2022/23. NICs will rise by 1.25% for employees, employers and the self-employed from April 2022 to fund the Government’s new health and social care levy. In some scenarios, employees and employers can get around this by striking a salary … Continued
National Insurance contributions (NICs) and the three dividend tax rates will all increase 1.25% from April 2022 to pay for the social care system in England. This social care package will be funded through a new UK-wide health and social care levy, which is expected to raise around £12 billion a year. The levy will … Continued
The Easter Bunny has come early!🐣Chocolate inspired pay day treat for all our lovely staff 🍫 🐇
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🎄Merry Christmas🎄
The BWM office will be closed over the Christmas period from close of business on Friday 23 December 2022 at 12pm until 9am on Tuesday 3 January 2023.
Tempest Suite 5.1, 12 Tithebarn Street,
Liverpool, L2 2DT
Phone: 0151 236 1494
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