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UK Economy

June 19, 2022
Tax Year-End Changes- Will it effect your Business?

  Tax Year-End Changes – In June 2021 Office of Tax Simplification (OTS) issued a review summarizing the potential impact of changes in the tax year-end date on taxpayers, its costs, benefits, and long-term implications. It also considers the short-term proceedings to facilitate the launch of Making Tax Digital (MTD) for income tax.   UK’s...

May 13, 2022

  National Insurance Contribution Tax Changes UK 2022   The UK Government has announced temporary changes in the tax rates and thresholds for National Insurance Contribution, PAYE, National Minimum Wage, Maternity and Paternity pay, Employment Allowance, and others. Unless stated otherwise, the following changes are applicable from 6 April 2022 to 5 April 2023.  ...

April 21, 2022

  Mr. Sunak, the British Chancellor in his spring statement 2022 has made certain announcements that may have a bearing on the cost of living of households. However, this year Mr. Sunak faces pressure due to the increasing inflation levels to act on cost-of-living. His spring statement 2022 has resulted in rising household bills and...

March 15, 2021

The government has published the details of the Finance Bill 2021 on 11 March 2021. The Bill highlights the important law measures(announced in the recent 2021 Budget) set to come into legislation. Chancellor Rishi Sunak announced the following measures in his budget speech: an extension of the stamp duty holiday in England a super-deduction capital...

March 3, 2021

Chancellor Rishi Sunak unveiled the contents of his Budget 2021 in the House of Commons on 3rd March. He announced the UK government’s tax and spending plans for the year ahead. However, the focus on helping business and jobs through the pandemic and supporting the UK’s long-term economic recovery will remain unchanged. Here is a...

December 22, 2020

The government must extend SEISS Self-employment Income Support Scheme to fulfil their commitment with employed workers, says IPSE. Chancellor Rishi recently announced the extension of the coronavirus (COVID-19) Job Retention and loan schemes from March until April 2021. IPSE welcomed this announcement. However, it claims that self-employed workers have received less comprehensive support from the...

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