Please see the attached update here
Comments Off on Covid-19 Update 13/1/2021
Covid-19 Update 13/1/2021
Comments Off on One-year freeze for business rates multiplier in England
One-year freeze for business rates multiplier in England
One of the key factors that determine the tax on a business’s right to occupy commercial property in England has been frozen for 2021/22, the Chancellor has confirmed. Buried in the supporting documents of Spending Review 2020 was a freeze on the business rates multiplier, which the Government expects to save retailers £575 million up … Continued
Comments Off on National living wage to increase alongside age threshold fall
National living wage to increase alongside age threshold fall
Employers of low-paid workers in the UK will have to absorb another rise to the national living wage and pay it to over-23s from April 2021, the Chancellor has confirmed. Rishi Sunak confirmed the increase in his Spending Review 2020, in which it was announced the national living wage will increase from £8.72 to £8.91 … Continued
Comments Off on HMRC issues last reminder for 2019/20 personal tax returns
HMRC issues last reminder for 2019/20 personal tax returns
HMRC is reminding taxpayers that the deadline to submit 2019/20 personal tax returns through self-assessment is on or before midnight on 31 January 2021. Last year, a record-breaking 11.1m taxpayers complied with filing their personal tax return for 2018/19 on time, while around 8% missed the deadline altogether. More than 700,000 people left it to … Continued
Comments Off on Annual investment allowance remains at £1m until 2022
Annual investment allowance remains at £1m until 2022
A temporary increase to the annual investment allowance has been extended until 1 January 2022, the Treasury confirmed. The allowance enables firms to fully offset the cost of qualifying capital items of plant and machinery against taxable profits. Since 1 January 2019, businesses have received faster tax relief for plant and machinery investments up to … Continued
Comments Off on New Office Location
New Office Location
Our telephone, fax and email addresses will remain unchanged. Our new address will be: Tempest BWM Accountants Limited Suite 5.1 12 Tithebarn Street Liverpool L2 2DT
Comments Off on Not the Covid-19 Newsletter
Not the Covid-19 Newsletter
A guide for clients
Comments Off on Brexit Guides
Brexit Guides
Guides for clients below: Brexit Planning Guide Brexit Checklist Brexit Update
Comments Off on Self-employed fear tax returns may affect fourth SEISS claim
Self-employed fear tax returns may affect fourth SEISS claim
Some self-employed workers fear submitting their 2019/20 tax return early might affect their ability to claim a fourth taxable grant from the Government. The deadline to submit tax returns for 2019/20 through self-assessment is on or before midnight on 31 January 2021, with around 10.7 million returns sent in last year. Last month, an extension … Continued
Comments Off on Government body urges capital gains tax overhaul
Government body urges capital gains tax overhaul
Current capital gains tax rates are too complex and should be aligned with income tax rates, according to the Office for Tax Simplification (OTS). Capital gains tax in the UK is charged at 10% and 20% for most taxable assets, or 18% and 28% for residential property that is not a main home. Income tax … Continued
